AE Wealth Management LLC Makes New $1.67 Million Investment in Performance Food Group Company $PFGC

AE Wealth Management LLC purchased a new position in Performance Food Group Company (NYSE:PFGC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,010 shares of the food distribution company’s stock, valued at approximately $1,666,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Holocene Advisors LP grew its position in Performance Food Group by 8.6% in the 2nd quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock valued at $269,318,000 after buying an additional 244,793 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of Performance Food Group by 22.1% in the 2nd quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after acquiring an additional 465,807 shares during the period. Eminence Capital LP boosted its holdings in shares of Performance Food Group by 6.7% in the second quarter. Eminence Capital LP now owns 2,250,830 shares of the food distribution company’s stock valued at $196,880,000 after acquiring an additional 141,864 shares in the last quarter. Norges Bank acquired a new position in shares of Performance Food Group during the second quarter valued at approximately $163,954,000. Finally, Jennison Associates LLC raised its holdings in Performance Food Group by 10.2% during the second quarter. Jennison Associates LLC now owns 1,860,048 shares of the food distribution company’s stock worth $162,698,000 after purchasing an additional 171,957 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Guggenheim reaffirmed a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Citigroup lowered their target price on Performance Food Group from $134.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Piper Sandler cut their price target on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. Finally, Morgan Stanley set a $123.00 target price on shares of Performance Food Group in a report on Tuesday, January 20th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $118.22.

Performance Food Group Price Performance

PFGC stock opened at $94.76 on Tuesday. Performance Food Group Company has a one year low of $68.39 and a one year high of $109.05. The firm has a 50-day moving average of $93.22 and a two-hundred day moving average of $97.95. The firm has a market capitalization of $14.86 billion, a PE ratio of 45.56, a P/E/G ratio of 1.15 and a beta of 0.93. The company has a current ratio of 1.67, a quick ratio of 0.70 and a debt-to-equity ratio of 1.55.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The business had revenue of $17.08 billion for the quarter, compared to analyst estimates of $16.87 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current year.

About Performance Food Group

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.