AdvisorShares Investments LLC Invests $159,000 in Performance Food Group (NYSE:PFGC)

AdvisorShares Investments LLC purchased a new stake in shares of Performance Food Group (NYSE:PFGC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,879 shares of the food distribution company’s stock, valued at approximately $159,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PFGC. Victory Capital Management Inc. lifted its stake in Performance Food Group by 154.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock worth $330,625,000 after acquiring an additional 2,371,818 shares during the period. Norges Bank purchased a new position in shares of Performance Food Group during the fourth quarter valued at about $164,471,000. JPMorgan Chase & Co. increased its position in shares of Performance Food Group by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after buying an additional 401,235 shares during the period. TimesSquare Capital Management LLC raised its stake in Performance Food Group by 658.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company’s stock worth $38,902,000 after buying an additional 399,430 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Performance Food Group by 134.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after buying an additional 371,078 shares during the period. Institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

PFGC has been the subject of several research reports. Barclays decreased their target price on Performance Food Group from $102.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Piper Sandler cut shares of Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $90.00 in a report on Friday, February 7th. Morgan Stanley lifted their price target 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. Finally, StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Performance Food Group presently has an average rating of “Moderate Buy” and an average target price of $95.09.

Performance Food Group Stock Up 1.1 %

Shares of PFGC opened at $80.45 on Wednesday. The firm has a fifty day moving average price of $77.92 and a 200-day moving average price of $83.20. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $12.57 billion, a P/E ratio of 32.44, a P/E/G ratio of 0.96 and a beta of 1.16. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44.

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

Performance Food Group 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.