Pictet Asset Management Holding SA Grows Position in Performance Food Group (NYSE:PFGC)

Pictet Asset Management Holding SA raised its holdings in Performance Food Group (NYSE:PFGC) by 10.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,336 shares of the food distribution company’s stock after purchasing an additional 2,237 shares during the period. Pictet Asset Management Holding SA’s holdings in Performance Food Group were worth $1,973,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Captrust Financial Advisors raised its holdings in Performance Food Group by 4.8% during the 3rd quarter. Captrust Financial Advisors now owns 21,363 shares of the food distribution company’s stock valued at $1,674,000 after acquiring an additional 981 shares during the period. Quantinno Capital Management LP raised its stake in shares of Performance Food Group by 44.1% during the 3rd quarter. Quantinno Capital Management LP now owns 14,668 shares of the food distribution company’s stock valued at $1,150,000 after purchasing an additional 4,486 shares during the period. State Street Corp lifted its holdings in Performance Food Group by 2.2% during the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock worth $360,197,000 after purchasing an additional 97,069 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in Performance Food Group during the 3rd quarter worth about $2,772,000. Finally, National Bank of Canada FI grew its holdings in Performance Food Group by 377.9% during the 3rd quarter. National Bank of Canada FI now owns 3,680 shares of the food distribution company’s stock valued at $288,000 after buying an additional 2,910 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

NYSE:PFGC opened at $73.39 on Friday. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 0.96 and a beta of 1.40. The business has a 50 day moving average of $82.19 and a 200 day moving average of $83.41. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. On average, sell-side analysts predict that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PFGC shares. Morgan Stanley raised their price objective on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Piper Sandler downgraded shares of Performance Food Group from an “overweight” rating to a “neutral” rating and cut their price target for the company from $92.00 to $90.00 in a report on Friday, February 7th. Barclays reduced their price target on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Melius Research upgraded Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and an average target price of $95.73.

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.