Massachusetts Financial Services Co. MA Takes $152.72 Million Position in Performance Food Group Company $PFGC

Massachusetts Financial Services Co. MA acquired a new position in shares of Performance Food Group Company (NYSE:PFGC) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,467,872 shares of the food distribution company’s stock, valued at approximately $152,717,000. Massachusetts Financial Services Co. MA owned 0.94% of Performance Food Group at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PFGC. Parkside Financial Bank & Trust boosted its position in shares of Performance Food Group by 51.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock worth $32,000 after purchasing an additional 123 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Performance Food Group by 658.0% in the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock valued at $33,000 after purchasing an additional 329 shares during the period. Golden State Wealth Management LLC boosted its holdings in Performance Food Group by 148.6% during the second quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock worth $46,000 after buying an additional 312 shares in the last quarter. Eastern Bank acquired a new position in Performance Food Group during the third quarter worth about $47,000. Finally, Mather Group LLC. purchased a new position in Performance Food Group in the third quarter valued at about $55,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PFGC. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. Wall Street Zen downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Morgan Stanley set a $123.00 price target on Performance Food Group in a research report on Tuesday. Finally, Citigroup decreased their price objective on shares of Performance Food Group from $134.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.22.

Performance Food Group Stock Performance

Performance Food Group stock opened at $95.31 on Wednesday. Performance Food Group Company has a fifty-two week low of $68.39 and a fifty-two week high of $109.05. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 45.82, a PEG ratio of 1.19 and a beta of 0.93. The stock has a fifty day moving average of $93.11 and a two-hundred day moving average of $97.85. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.70 and a current ratio of 1.67.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.02. The business had revenue of $17.08 billion for the quarter, compared to the consensus estimate of $16.87 billion. Performance Food Group had a return on equity of 15.97% and a net margin of 0.50%.The business’s revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 earnings per share. On average, analysts anticipate that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Performance Food Group Company 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.