Point72 Asset Management L.P. Buys 498,554 Shares of Performance Food Group (NYSE:PFGC)

Point72 Asset Management L.P. increased its stake in Performance Food Group (NYSE:PFGC) by 30.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,111,242 shares of the food distribution company’s stock after buying an additional 498,554 shares during the quarter. Point72 Asset Management L.P. owned about 1.35% of Performance Food Group worth $178,506,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Millstone Evans Group LLC bought a new stake in shares of Performance Food Group during the fourth quarter worth $26,000. Blue Trust Inc. increased its stake in shares of 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 buying an additional 212 shares during the period. V Square Quantitative Management LLC lifted its stake in Performance Food Group by 51.4% in the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock worth $60,000 after acquiring an additional 239 shares during the period. UMB Bank n.a. increased its position in Performance Food Group by 69.1% during the 4th quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock valued at $65,000 after purchasing an additional 313 shares during the period. Finally, J.Safra Asset Management Corp boosted its position in Performance Food Group by 40.8% during the 4th quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company’s stock valued at $66,000 after acquiring an additional 226 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

PFGC opened at $87.48 on Thursday. The stock has a market cap of $13.65 billion, a P/E ratio of 35.27, a P/E/G ratio of 0.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The firm has a fifty day moving average price of $78.39 and a 200 day moving average price of $83.30. 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 issued its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The company had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 earnings per share. Equities research analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on PFGC shares. Barclays lifted their target price on Performance Food Group from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Morgan Stanley increased 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. Finally, Truist Financial decreased their price target on shares of Performance Food Group from $104.00 to $101.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.55.

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.