Braun Stacey Associates Inc. Purchases New Position in Performance Food Group Company $PFGC

Braun Stacey Associates Inc. bought a new stake in Performance Food Group Company (NYSE:PFGC) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 125,479 shares of the food distribution company’s stock, valued at approximately $13,055,000.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Performance Food Group during the 2nd quarter valued at $163,954,000. Primecap Management Co. CA grew its holdings in shares of Performance Food Group by 22.1% in the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after purchasing an additional 465,807 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Performance Food Group during the second quarter worth approximately $24,726,000. Qube Research & Technologies Ltd raised its position in Performance Food Group by 499.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after purchasing an additional 273,997 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in Performance Food Group in the first quarter worth about $20,030,000. 96.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on PFGC shares. Piper Sandler dropped their target price on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Barclays raised their target price on Performance Food Group from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Monday. Wall Street Zen lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Finally, UBS Group reissued a “buy” rating and issued a $120.00 price target on shares of Performance Food Group in a report on Friday, December 19th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Performance Food Group has an average rating of “Moderate Buy” and an average target price of $116.22.

Performance Food Group Price Performance

Shares of PFGC stock opened at $90.00 on Friday. The firm’s 50-day moving average is $94.64 and its two-hundred day moving average is $97.25. Performance Food Group Company has a 12 month low of $68.39 and a 12 month high of $109.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.67 and a quick ratio of 0.70. The company has a market capitalization of $14.11 billion, a PE ratio of 43.27, a price-to-earnings-growth ratio of 1.09 and a beta of 0.94.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The business had revenue of $17.08 billion during the quarter, compared to the consensus estimate of $16.87 billion. During the same quarter last year, the firm earned $1.16 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Analysts predict that Performance Food Group Company will post 4.58 earnings per share for the current year.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.