HighPoint Advisor Group LLC Buys Shares of 4,301 Performance Food Group (NYSE:PFGC)

HighPoint Advisor Group LLC purchased a new position in shares of Performance Food Group (NYSE:PFGC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,301 shares of the food distribution company’s stock, valued at approximately $323,000.

A number of other institutional investors and hedge funds have also modified their holdings of PFGC. Signaturefd LLC raised its holdings in Performance Food Group by 38.8% during the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock worth $35,000 after purchasing an additional 143 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Performance Food Group by 23.0% in the 4th quarter. Fifth Third Bancorp now owns 1,010 shares of the food distribution company’s stock worth $70,000 after buying an additional 189 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Performance Food Group by 3.0% in the 4th quarter. DAVENPORT & Co LLC now owns 8,230 shares of the food distribution company’s stock worth $569,000 after buying an additional 240 shares in the last quarter. Covestor Ltd grew its stake in Performance Food Group by 16.1% in the 3rd quarter. Covestor Ltd now owns 1,965 shares of the food distribution company’s stock valued at $116,000 after acquiring an additional 272 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its holdings in Performance Food Group by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 69,437 shares of the food distribution company’s stock valued at $4,087,000 after acquiring an additional 348 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Price Performance

PFGC stock opened at $67.28 on Friday. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 25.10, a price-to-earnings-growth ratio of 0.99 and a beta of 1.41. The company has a quick ratio of 0.77, a current ratio of 1.64 and a debt-to-equity ratio of 0.96. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $78.54. The stock’s fifty day simple moving average is $69.50 and its 200-day simple moving average is $71.18.

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

Analyst Ratings Changes

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

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.