Bank of Montreal Can Sells 189,873 Shares of Performance Food Group (NYSE:PFGC)

Bank of Montreal Can decreased its position in shares of Performance Food Group (NYSE:PFGC) by 27.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 513,405 shares of the food distribution company’s stock after selling 189,873 shares during the quarter. Bank of Montreal Can’s holdings in Performance Food Group were worth $40,153,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Primecap Management Co. CA increased its position in shares of Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock worth $107,447,000 after purchasing an additional 1,122,676 shares during the period. Dimensional Fund Advisors LP grew its position in Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock valued at $142,170,000 after acquiring an additional 469,500 shares during the last quarter. Point72 Asset Management L.P. grew its position in Performance Food Group by 27.8% in the second quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after acquiring an additional 372,218 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Performance Food Group by 166.1% during the third quarter. Assenagon Asset Management S.A. now owns 275,466 shares of the food distribution company’s stock valued at $21,588,000 after purchasing an additional 171,953 shares in the last quarter. Finally, Eminence Capital LP boosted its stake in shares of Performance Food Group by 7.4% during the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after purchasing an additional 164,472 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Shares of PFGC opened at $87.91 on Friday. The stock’s 50-day simple moving average is $82.31 and its 200 day simple moving average is $73.79. The stock has a market capitalization of $13.70 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $89.73.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The business had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Performance Food Group’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.15 earnings per share. Research analysts forecast that Performance Food Group will post 4.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PFGC shares. BMO Capital Markets lifted their price target on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Morgan Stanley reissued an “equal weight” rating and issued a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Piper Sandler boosted their price objective on Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Finally, Jefferies Financial Group upped their price target on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.27.

Performance Food Group Company 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.