Clearbridge Investments LLC Has $415.55 Million Holdings in Performance Food Group (NYSE:PFGC)

Clearbridge Investments LLC lessened its stake in shares of Performance Food Group (NYSE:PFGC) by 11.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,914,844 shares of the food distribution company’s stock after selling 652,437 shares during the quarter. Clearbridge Investments LLC owned about 3.15% of Performance Food Group worth $415,550,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PFGC. Millstone Evans Group LLC acquired a new position in shares of Performance Food Group during the fourth quarter worth approximately $26,000. Central Pacific Bank Trust Division acquired a new position in Performance Food Group during the fourth quarter worth $42,000. Blue Trust Inc. lifted its stake in shares of Performance Food Group by 64.6% in the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock valued at $42,000 after buying an additional 212 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Performance Food Group by 51.4% during the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock valued at $60,000 after buying an additional 239 shares during the last quarter. Finally, UMB Bank n.a. increased its position in shares of Performance Food Group by 69.1% during the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock worth $65,000 after acquiring an additional 313 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays dropped their price target on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Melius Research raised Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Melius initiated coverage on Performance Food Group in a research report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 price target for the company. Morgan Stanley lifted their price objective on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Piper Sandler downgraded shares of Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $92.00 to $90.00 in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $95.73.

Performance Food Group Price Performance

PFGC opened at $77.36 on Friday. The firm has a 50-day moving average price of $83.29 and a 200-day moving average price of $83.32. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. 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 company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 0.96 and a beta of 1.40.

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

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.