Daiwa Securities Group Inc. Increases Stock Position in Performance Food Group (NYSE:PFGC)

Daiwa Securities Group Inc. increased its position in Performance Food Group (NYSE:PFGC) by 32.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 135,747 shares of the food distribution company’s stock after purchasing an additional 33,373 shares during the period. Daiwa Securities Group Inc.’s holdings in Performance Food Group were worth $9,387,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new stake in Performance Food Group in the 4th quarter worth approximately $29,000. Coppell Advisory Solutions Corp. bought a new stake in Performance Food Group in the 4th quarter worth approximately $46,000. Fifth Third Bancorp grew its position in shares of Performance Food Group by 50.4% during the 3rd quarter. Fifth Third Bancorp now owns 821 shares of the food distribution company’s stock valued at $48,000 after acquiring an additional 275 shares during the period. Advisory Services Network LLC grew its position in shares of Performance Food Group by 1,026.0% during the 1st quarter. Advisory Services Network LLC now owns 1,081 shares of the food distribution company’s stock valued at $65,000 after acquiring an additional 985 shares during the period. Finally, Sunbelt Securities Inc. bought a new stake in shares of Performance Food Group during the 1st quarter valued at $71,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PFGC has been the subject of a number of recent research reports. Stephens boosted their price objective on shares of Performance Food Group from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. BMO Capital Markets boosted their price objective on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 8th. Morgan Stanley boosted their price objective on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. Barclays boosted their price objective on shares of Performance Food Group from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, February 8th. Finally, StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Performance Food Group Trading Down 0.7 %

Performance Food Group stock opened at $68.04 on Friday. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. The firm’s 50 day moving average price is $74.10 and its 200-day moving average price is $67.87. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.71 and a quick ratio of 0.75. The stock has a market cap of $10.59 billion, a P/E ratio of 24.83, a PEG ratio of 0.97 and a beta of 1.38.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $14.30 billion during the quarter, compared to analysts’ expectations of $14.20 billion. Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS. On average, equities analysts predict that Performance Food Group will post 4.26 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.