Vaughan Nelson Investment Management L.P. Boosts Position in Performance Food Group (NYSE:PFGC)

Vaughan Nelson Investment Management L.P. raised its stake in shares of Performance Food Group (NYSE:PFGC) by 34.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 388,712 shares of the food distribution company’s stock after buying an additional 99,110 shares during the quarter. Vaughan Nelson Investment Management L.P. owned about 0.25% of Performance Food Group worth $29,013,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PFGC. Capital World Investors lifted its position in Performance Food Group by 0.4% in the fourth quarter. Capital World Investors now owns 21,426,852 shares of the food distribution company’s stock valued at $1,481,667,000 after purchasing an additional 78,481 shares during the last quarter. Vanguard Group Inc. lifted its position in Performance Food Group by 0.7% in the third quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock valued at $937,613,000 after purchasing an additional 107,449 shares during the last quarter. Clearbridge Investments LLC lifted its position in Performance Food Group by 2.1% in the fourth quarter. Clearbridge Investments LLC now owns 6,484,836 shares of the food distribution company’s stock valued at $448,426,000 after purchasing an additional 136,141 shares during the last quarter. Wellington Management Group LLP lifted its position in Performance Food Group by 6.5% in the fourth quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock valued at $447,645,000 after purchasing an additional 397,114 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Performance Food Group by 6.1% during the fourth quarter. Jennison Associates LLC now owns 2,293,472 shares of the food distribution company’s stock valued at $158,594,000 after buying an additional 131,031 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Down 0.9 %

Performance Food Group stock opened at $64.56 on Wednesday. The company has a current ratio of 1.64, a quick ratio of 0.77 and a debt-to-equity ratio of 0.96. The business’s fifty day simple moving average is $69.21 and its two-hundred day simple moving average is $71.31. Performance Food Group has a 12 month low of $52.92 and a 12 month high of $78.54. The company has a market capitalization of $10.05 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 0.96 and a beta of 1.42.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, May 8th. The food distribution company reported $0.80 EPS for the quarter, missing the consensus estimate 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 company had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same period last year, the firm posted $0.83 earnings per share. The company’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that Performance Food Group will post 4.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PFGC. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Morgan Stanley boosted their target price on Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Finally, Barclays reduced their target price on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and an average target price of $81.14.

About Performance Food Group

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.