Freestone Grove Partners LP Takes $35.25 Million Position in Performance Food Group (NYSE:PFGC)

Freestone Grove Partners LP bought a new stake in Performance Food Group (NYSE:PFGC) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 416,914 shares of the food distribution company’s stock, valued at approximately $35,250,000.

Other institutional investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in shares of Performance Food Group in the fourth quarter valued at approximately $26,000. Central Pacific Bank Trust Division bought a new position in Performance Food Group during the fourth quarter valued at $42,000. Blue Trust Inc. grew its holdings in Performance Food Group by 64.6% during the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock valued at $42,000 after purchasing an additional 212 shares during the period. V Square Quantitative Management LLC grew its holdings in Performance Food Group by 51.4% during the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock valued at $60,000 after purchasing an additional 239 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Performance Food Group by 69.1% in the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock worth $65,000 after acquiring an additional 313 shares during the period. 96.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PFGC shares. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Barclays lowered their price objective on Performance Food Group from $102.00 to $95.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Piper Sandler downgraded Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $92.00 to $90.00 in a research report on Friday, February 7th. Finally, Morgan Stanley raised their price target on 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. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $95.09.

Performance Food Group Price Performance

PFGC opened at $80.62 on Thursday. The stock has a fifty day simple moving average of $77.89 and a two-hundred day simple moving average of $83.18. 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 company has a market cap of $12.59 billion, a price-to-earnings ratio of 32.51, a price-to-earnings-growth 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 released its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS 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%. Research analysts predict that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

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.