Performance Food Group (NYSE:PFGC) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its position in Performance Food Group (NYSE:PFGC) by 24.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 230,318 shares of the food distribution company’s stock after purchasing an additional 44,924 shares during the period. Ameriprise Financial Inc. owned 0.15% of Performance Food Group worth $19,473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. HighPoint Advisor Group LLC increased its holdings in shares of Performance Food Group by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 4,630 shares of the food distribution company’s stock valued at $389,000 after purchasing an additional 121 shares during the period. Stifel Financial Corp grew its position in Performance Food Group by 4.6% in the 4th quarter. Stifel Financial Corp now owns 2,934 shares of the food distribution company’s stock valued at $248,000 after buying an additional 130 shares during the last quarter. Highland Capital Management LLC lifted its position in Performance Food Group by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 2,915 shares of the food distribution company’s stock valued at $246,000 after purchasing an additional 183 shares during the period. Blue Trust Inc. lifted its position in Performance Food Group by 64.6% in 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. Finally, M&T Bank Corp boosted its holdings in Performance Food Group by 1.1% in the 4th quarter. M&T Bank Corp now owns 18,891 shares of the food distribution company’s stock valued at $1,597,000 after purchasing an additional 213 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Piper Sandler cut shares of Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Morgan Stanley increased their price objective on Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Barclays lifted their price objective on Performance Food Group from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. Finally, Truist Financial cut their price objective on shares of Performance Food Group from $104.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average price target of $95.55.

Performance Food Group Trading Up 0.6%

NYSE:PFGC opened at $88.17 on Friday. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44. The stock has a fifty day simple moving average of $78.65 and a 200 day simple moving average of $83.35. The firm has a market capitalization of $13.76 billion, a price-to-earnings ratio of 35.55, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.80 EPS. Sell-side analysts forecast that Performance Food Group will post 4.58 earnings per share for the current year.

About Performance Food Group

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.