KLP Kapitalforvaltning AS Buys New Holdings in Performance Food Group (NYSE:PFGC)

KLP Kapitalforvaltning AS purchased a new stake in shares of Performance Food Group (NYSE:PFGC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 43,720 shares of the food distribution company’s stock, valued at approximately $3,697,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Knights of Columbus Asset Advisors LLC grew its stake in Performance Food Group by 3.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 106,019 shares of the food distribution company’s stock valued at $8,964,000 after purchasing an additional 3,112 shares in the last quarter. Millstone Evans Group LLC bought a new stake in shares of Performance Food Group in the 4th quarter worth approximately $26,000. Xponance Inc. boosted its position in Performance Food Group by 9.0% during the 4th quarter. Xponance Inc. now owns 20,416 shares of the food distribution company’s stock valued at $1,726,000 after purchasing an additional 1,690 shares during the period. Flagship Wealth Advisors LLC bought a new position in Performance Food Group during the 4th quarter worth $254,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in Performance Food Group in the fourth quarter worth $695,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Trading Up 1.5 %

Shares of PFGC opened at $77.93 on Thursday. The stock’s 50-day moving average price is $83.68 and its 200 day moving average price is $83.24. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 0.96 and a beta of 1.40. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44.

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

Analyst Upgrades and Downgrades

PFGC has been the subject of several analyst reports. Barclays reduced their price target on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Melius assumed coverage on Performance Food Group in a research report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 target price for the company. Morgan Stanley boosted their price target on shares of 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. StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Piper Sandler downgraded Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $92.00 to $90.00 in a report on Friday, February 7th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.73.

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.