Performance Food Group (NYSE:PFGC) Stake Lowered by Covestor Ltd

Covestor Ltd decreased its position in shares of Performance Food Group (NYSE:PFGC) by 37.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,737 shares of the food distribution company’s stock after selling 1,056 shares during the period. Covestor Ltd’s holdings in Performance Food Group were worth $130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board bought a new stake in shares of Performance Food Group in the 1st quarter valued at approximately $346,000. Spirepoint Private Client LLC bought a new stake in Performance Food Group in the first quarter worth approximately $1,003,000. Blair William & Co. IL acquired a new position in shares of Performance Food Group during the 1st quarter worth $213,000. First Eagle Investment Management LLC raised its holdings in shares of Performance Food Group by 1.9% during the 1st quarter. First Eagle Investment Management LLC now owns 10,971 shares of the food distribution company’s stock valued at $819,000 after purchasing an additional 200 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of Performance Food Group in the 1st quarter valued at $413,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PFGC shares. Barclays cut their target price on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Morgan Stanley cut their price objective on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Finally, StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th. One 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 presently has an average rating of “Moderate Buy” and a consensus target price of $80.57.

Performance Food Group Stock Performance

NYSE PFGC traded down $3.61 during trading on Wednesday, hitting $64.07. The company’s stock had a trading volume of 846,316 shares, compared to its average volume of 1,039,708. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $78.54. The firm has a 50 day moving average price of $67.77 and a 200 day moving average price of $70.83. The firm has a market cap of $9.97 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 0.83 and a beta of 1.42. The company has a quick ratio of 0.77, a current ratio of 1.64 and a debt-to-equity ratio of 0.96.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.10 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.22%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Equities research analysts forecast that Performance Food Group will post 4.2 earnings per share for the current fiscal year.

About Performance Food Group

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.