Vaughan Nelson Investment Management L.P. Decreases Holdings in Performance Food Group Company $PFGC

Vaughan Nelson Investment Management L.P. lowered its position in Performance Food Group Company (NYSE:PFGC) by 40.3% during the third quarter, HoldingsChannel.com reports. The fund owned 320,421 shares of the food distribution company’s stock after selling 216,205 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Performance Food Group were worth $33,337,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PFGC. Norges Bank purchased a new stake in Performance Food Group during the second quarter worth $163,954,000. Primecap Management Co. CA raised its stake in shares of Performance Food Group by 22.1% during the 2nd quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after buying an additional 465,807 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Performance Food Group in the 2nd quarter worth about $24,726,000. Qube Research & Technologies Ltd grew its stake in Performance Food Group by 499.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after acquiring an additional 273,997 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in Performance Food Group in the 1st quarter valued at about $20,030,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PFGC shares. Piper Sandler cut their target price on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Barclays set a $105.00 price objective on shares of Performance Food Group in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Performance Food Group in a research note on Monday, December 29th. Wall Street Zen cut Performance Food Group from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. Finally, Citigroup reissued a “buy” rating on shares of Performance Food Group in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.56.

Performance Food Group Price Performance

PFGC stock opened at $87.45 on Wednesday. The stock has a market capitalization of $13.71 billion, a price-to-earnings ratio of 42.04, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. The company has a quick ratio of 0.70, a current ratio of 1.67 and a debt-to-equity ratio of 1.55. Performance Food Group Company has a 52-week low of $68.39 and a 52-week high of $109.05. The stock’s fifty day simple moving average is $93.90 and its 200-day simple moving average is $97.45.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.02. Performance Food Group had a return on equity of 15.97% and a net margin of 0.50%.The firm had revenue of $17.08 billion for the quarter, compared to the consensus estimate of $16.87 billion. During the same period in the prior year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts expect that Performance Food Group Company will post 4.58 EPS for the current year.

Performance Food Group Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.