WCM Investment Management LLC Increases Position in Performance Food Group Company $PFGC

WCM Investment Management LLC boosted its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,420 shares of the food distribution company’s stock after acquiring an additional 10,779 shares during the quarter. WCM Investment Management LLC owned 0.13% of Performance Food Group worth $21,513,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PFGC. Parkside Financial Bank & Trust boosted its position in Performance Food Group by 51.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after buying an additional 123 shares during the period. AlphaQuest LLC increased its position in shares of Performance Food Group by 658.0% during the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock worth $33,000 after acquiring an additional 329 shares during the period. Root Financial Partners LLC bought a new stake in shares of Performance Food Group during the third quarter valued at approximately $39,000. Golden State Wealth Management LLC boosted its holdings in shares of Performance Food Group by 148.6% in the second quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock valued at $46,000 after purchasing an additional 312 shares during the period. Finally, Eastern Bank bought a new position in Performance Food Group in the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

PFGC opened at $94.76 on Tuesday. The company has a market cap of $14.86 billion, a P/E ratio of 45.56, a price-to-earnings-growth ratio of 1.15 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. The firm’s 50-day moving average price is $93.22 and its 200-day moving average price is $97.95. Performance Food Group Company has a 52-week low of $68.39 and a 52-week high of $109.05.

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 net margin of 0.50% and a return on equity of 15.97%. The company had revenue of $17.08 billion for the quarter, compared to the consensus estimate of $16.87 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. Performance Food Group’s revenue was up 10.8% compared to the same quarter last year. As a group, equities analysts anticipate that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PFGC. Guggenheim restated a “buy” rating on shares of Performance Food Group in a report on Thursday, December 18th. Piper Sandler reduced their price target on 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. Sanford C. Bernstein initiated coverage on shares of Performance Food Group in a report on Wednesday, October 22nd. They issued an “outperform” rating and a $130.00 target price for the company. Citigroup cut 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. Finally, Morgan Stanley set a $123.00 target price on shares of Performance Food Group in a research report on Tuesday, January 20th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $118.22.

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.