Wellington Management Group LLP Boosts Holdings in Performance Food Group (NYSE:PFGC)

Wellington Management Group LLP raised its stake in Performance Food Group (NYSE:PFGC) by 3.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,909,635 shares of the food distribution company’s stock after purchasing an additional 147,080 shares during the period. Wellington Management Group LLP’s holdings in Performance Food Group were worth $330,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its position in shares of Performance Food Group by 6.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 11,222 shares of the food distribution company’s stock valued at $949,000 after purchasing an additional 687 shares during the period. Pictet Asset Management Holding SA lifted its stake in Performance Food Group by 10.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 23,336 shares of the food distribution company’s stock valued at $1,973,000 after buying an additional 2,237 shares during the last quarter. Norges Bank acquired a new stake in shares of Performance Food Group in the fourth quarter valued at approximately $164,471,000. Zions Bancorporation N.A. grew its position in shares of Performance Food Group by 21.1% during the fourth quarter. Zions Bancorporation N.A. now owns 35,679 shares of the food distribution company’s stock worth $3,017,000 after acquiring an additional 6,213 shares during the last quarter. Finally, Bridge City Capital LLC increased its holdings in shares of Performance Food Group by 7.9% in the 4th quarter. Bridge City Capital LLC now owns 94,442 shares of the food distribution company’s stock valued at $7,985,000 after acquiring an additional 6,918 shares during the period. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Price Performance

PFGC stock opened at $79.47 on Wednesday. The firm has a 50 day moving average of $82.92 and a 200-day moving average of $83.49. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 0.96 and a beta of 1.40. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. 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 issued 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 return on equity of 16.58% and a net margin of 0.64%. As a group, equities analysts expect that Performance Food Group will post 4.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Barclays lowered their price target on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Piper Sandler downgraded Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Melius began coverage on Performance Food Group in a research note on Wednesday, December 18th. They issued a “hold” rating and a $95.00 target price on the stock. Finally, Melius Research upgraded Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target 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.