BTC Capital Management Inc. Invests $378,000 in Performance Food Group (NYSE:PFGC)

BTC Capital Management Inc. acquired a new stake in shares of Performance Food Group (NYSE:PFGC) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,062 shares of the food distribution company’s stock, valued at approximately $378,000.

Several other hedge funds have also made changes to their positions in the stock. Point72 Asset Management L.P. increased its holdings in Performance Food Group by 414.1% in the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after buying an additional 1,770,683 shares during the period. Norges Bank acquired a new position in Performance Food Group in the fourth quarter worth about $119,726,000. Earnest Partners LLC lifted its stake in Performance Food Group by 162.5% during the third quarter. Earnest Partners LLC now owns 768,432 shares of the food distribution company’s stock worth $45,230,000 after purchasing an additional 475,683 shares during the period. Palestra Capital Management LLC boosted its holdings in Performance Food Group by 25.1% during the third quarter. Palestra Capital Management LLC now owns 2,259,010 shares of the food distribution company’s stock valued at $132,965,000 after purchasing an additional 453,453 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after purchasing an additional 397,114 shares during the period. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Up 0.4 %

Shares of NYSE PFGC opened at $67.57 on Friday. Performance Food Group has a 1-year low of $52.92 and a 1-year high of $78.54. The company has a 50-day moving average of $69.47 and a two-hundred day moving average of $71.23. The company has a market cap of $10.51 billion, a PE ratio of 25.21, a P/E/G ratio of 0.98 and a beta of 1.41. The company has a current ratio of 1.64, a quick ratio of 0.77 and a debt-to-equity ratio of 0.96.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.10 billion. Performance Food Group had a return on equity of 16.22% and a net margin of 0.72%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. As a group, equities analysts expect that Performance Food Group will post 4.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Morgan Stanley increased their target price on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Finally, Barclays reduced their price target on shares of Performance Food Group from $86.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.14.

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.