Summit Global Investments Reduces Stock Position in Performance Food Group (NYSE:PFGC)

Summit Global Investments cut its stake in Performance Food Group (NYSE:PFGC) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,486 shares of the food distribution company’s stock after selling 336 shares during the period. Summit Global Investments’ holdings in Performance Food Group were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new stake in shares of Performance Food Group in the fourth quarter valued at approximately $42,000. Blue Trust Inc. grew its position in shares of Performance Food Group by 64.6% in the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock valued at $42,000 after purchasing an additional 212 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of Performance Food Group by 51.4% in the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock valued at $60,000 after purchasing an additional 239 shares in the last quarter. UMB Bank n.a. grew its position in shares of Performance Food Group by 69.1% in the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock valued at $65,000 after purchasing an additional 313 shares in the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of Performance Food Group by 40.8% in the fourth quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company’s stock valued at $66,000 after purchasing an additional 226 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PFGC shares. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Melius Research upgraded Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler lowered Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Morgan Stanley increased their price objective on Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Finally, Melius started coverage on Performance Food Group in a research report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and an average price target of $95.73.

Performance Food Group Trading Up 1.1 %

PFGC opened at $76.84 on Friday. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The business has a fifty day simple moving average of $84.18 and a 200-day simple moving average of $83.13. The firm has a market cap of $12.00 billion, a P/E ratio of 30.98, a P/E/G ratio of 0.96 and a beta of 1.40. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. On average, equities analysts expect that Performance Food Group will post 4.58 earnings per share for the current year.

Performance Food Group 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.