BNP Paribas Financial Markets Sells 26,354 Shares of Performance Food Group (NYSE:PFGC)

BNP Paribas Financial Markets lowered its holdings in Performance Food Group (NYSE:PFGC) by 15.3% during the third quarter, HoldingsChannel.com reports. The fund owned 146,218 shares of the food distribution company’s stock after selling 26,354 shares during the period. BNP Paribas Financial Markets’ holdings in Performance Food Group were worth $11,459,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PFGC. Atria Investments Inc grew its stake in shares of Performance Food Group by 79.3% in the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock valued at $2,180,000 after purchasing an additional 12,919 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Performance Food Group in the 2nd quarter valued at $6,843,000. Aigen Investment Management LP grew its position in Performance Food Group by 56.1% in the third quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company’s stock valued at $1,330,000 after acquiring an additional 6,099 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Performance Food Group during the third quarter worth $3,032,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Performance Food Group by 27.9% during 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 period. Institutional investors and hedge funds own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PFGC shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $92.00 target price on shares of Performance Food Group in a report on Monday, October 28th. Wells Fargo & Company upped their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Barclays lifted their target price on shares of Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. UBS Group increased their price target on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, BMO Capital Markets lifted their price objective on Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.27.

Performance Food Group Price Performance

Performance Food Group stock opened at $88.24 on Monday. The stock has a market cap of $13.75 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 0.95 and a beta of 1.44. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $89.73. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. The business’s 50-day simple moving average is $82.53 and its 200 day simple moving average is $73.96.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 0.72% and a return on equity of 16.66%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.15 EPS. As a group, research analysts anticipate that Performance Food Group will post 4.73 earnings per share for the current year.

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.