Swiss National Bank Sells 35,500 Shares of Performance Food Group (NYSE:PFGC)

Swiss National Bank lessened its stake in Performance Food Group (NYSE:PFGC) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 307,760 shares of the food distribution company’s stock after selling 35,500 shares during the period. Swiss National Bank owned about 0.20% of Performance Food Group worth $21,282,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PFGC. Raymond James & Associates lifted its position in shares of Performance Food Group by 15.5% in the 3rd quarter. Raymond James & Associates now owns 191,955 shares of the food distribution company’s stock worth $11,298,000 after acquiring an additional 25,715 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in Performance Food Group during the third quarter worth $203,000. Stratos Wealth Partners LTD. boosted its stake in Performance Food Group by 46.3% during the third quarter. Stratos Wealth Partners LTD. now owns 8,441 shares of the food distribution company’s stock worth $497,000 after buying an additional 2,670 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Performance Food Group by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,475,973 shares of the food distribution company’s stock valued at $86,876,000 after buying an additional 35,858 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Performance Food Group by 17.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,450 shares of the food distribution company’s stock valued at $1,792,000 after buying an additional 4,522 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Down 0.2 %

PFGC opened at $69.18 on Thursday. 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 $10.76 billion, a PE ratio of 25.25, a PEG ratio of 0.95 and a beta of 1.40. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $72.57 and a two-hundred day moving average price of $69.25.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share 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 company had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.20 billion. During the same period in the prior year, the business earned $0.83 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts anticipate that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Performance Food Group Company Profile

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.