Rise Advisors LLC Buys New Position in Performance Food Group (NYSE:PFGC)

Rise Advisors LLC bought a new stake in Performance Food Group (NYSE:PFGC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 385 shares of the food distribution company’s stock, valued at approximately $29,000.

Other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue boosted its holdings in Performance Food Group by 179.2% in the fourth quarter. State of Alaska Department of Revenue now owns 51,803 shares of the food distribution company’s stock valued at $3,581,000 after acquiring an additional 33,250 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Performance Food Group by 707.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,810 shares of the food distribution company’s stock valued at $886,000 after buying an additional 11,223 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Performance Food Group by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock valued at $937,613,000 after buying an additional 107,449 shares in the last quarter. CX Institutional raised its position in shares of Performance Food Group by 31.4% in the 4th quarter. CX Institutional now owns 75,294 shares of the food distribution company’s stock worth $5,207,000 after purchasing an additional 18,005 shares during the last quarter. Finally, Leeward Investments LLC MA raised its position in shares of Performance Food Group by 14.0% in the 4th quarter. Leeward Investments LLC MA now owns 274,805 shares of the food distribution company’s stock worth $19,003,000 after purchasing an additional 33,839 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFGC has been the subject of several recent analyst reports. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th. Morgan Stanley lifted their price target on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Finally, Barclays lowered their price target on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus price target of $81.14.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $67.28 on Friday. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54. The business has a 50-day simple moving average of $69.50 and a two-hundred day simple moving average of $71.18. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.77 and a current ratio of 1.64. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 0.99 and a beta of 1.41.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Performance Food Group had a return on equity of 16.22% and a net margin of 0.72%. Performance Food Group’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. On average, analysts expect that Performance Food Group will post 4.21 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.