Performance Food Group (NYSE:PFGC) Stake Reduced by Federated Hermes Inc.

Federated Hermes Inc. trimmed its stake in Performance Food Group (NYSE:PFGC) by 19.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 16,072 shares of the food distribution company’s stock after selling 3,998 shares during the quarter. Federated Hermes Inc.’s holdings in Performance Food Group were worth $1,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in Performance Food Group by 179.2% in the 4th quarter. State of Alaska Department of Revenue now owns 51,803 shares of the food distribution company’s stock valued at $3,581,000 after acquiring an additional 33,250 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Performance Food Group by 707.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 12,810 shares of the food distribution company’s stock valued at $886,000 after purchasing an additional 11,223 shares during the period. Vanguard Group Inc. raised its stake in shares of Performance Food Group by 0.7% during the third quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock valued at $937,613,000 after purchasing an additional 107,449 shares in the last quarter. CX Institutional lifted its holdings in Performance Food Group by 31.4% in the fourth quarter. CX Institutional now owns 75,294 shares of the food distribution company’s stock worth $5,207,000 after purchasing an additional 18,005 shares during the period. Finally, Natixis Advisors L.P. grew its position in Performance Food Group by 4.2% in the 3rd quarter. Natixis Advisors L.P. now owns 693,538 shares of the food distribution company’s stock valued at $40,822,000 after buying an additional 27,870 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Trading Down 0.8 %

Shares of PFGC opened at $67.88 on Wednesday. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. Performance Food Group has a 1-year low of $52.92 and a 1-year high of $78.54. The stock has a market capitalization of $10.56 billion, a P/E ratio of 24.77, a P/E/G ratio of 0.97 and a beta of 1.38. The business’s 50-day moving average price is $73.38 and its 200 day moving average price is $68.78.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that Performance Food Group will post 4.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PFGC shares. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Stephens boosted their price objective on Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Barclays raised their target price on Performance Food Group from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Morgan Stanley boosted their price target on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Finally, BMO Capital Markets raised their price objective on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

About Performance Food Group

Performance Food Group Company, through its subsidiaries, markets and distributes food and food-related products in the United States. It operates through three segments: Foodservice, Vistar, and Convenience. The company offers a range of frozen foods, groceries, candy, snacks, beverages, cigarettes, and other tobacco products; beef, pork, poultry, and seafood; and health and beauty care products.