Zions Bancorporation N.A. Buys 6,213 Shares of Performance Food Group (NYSE:PFGC)

Zions Bancorporation N.A. boosted its stake in shares of Performance Food Group (NYSE:PFGC) by 21.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,679 shares of the food distribution company’s stock after acquiring an additional 6,213 shares during the period. Zions Bancorporation N.A.’s holdings in Performance Food Group were worth $3,017,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Performance Food Group by 26.3% in the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock worth $1,043,293,000 after purchasing an additional 2,773,547 shares during the period. State Street Corp grew its stake in Performance Food Group by 2.2% during the third quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock worth $360,197,000 after buying an additional 97,069 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Performance Food Group by 154.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after buying an additional 2,371,818 shares during the period. JPMorgan Chase & Co. raised its position in shares of Performance Food Group by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after buying an additional 401,235 shares in the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of Performance Food Group by 32.0% during the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock worth $234,174,000 after acquiring an additional 724,094 shares during the period. 96.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports 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 for the company in a report on Thursday, February 6th. Piper Sandler lowered 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 initiated coverage on Performance Food Group in a research report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 target price on the stock. Finally, Morgan Stanley increased their target price 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. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.73.

Performance Food Group Stock Performance

Performance Food Group stock opened at $78.47 on Tuesday. The business has a 50 day moving average of $84.06 and a 200-day moving average of $83.24. The company has a market capitalization of $12.26 billion, a P/E ratio of 31.64, a P/E/G ratio of 0.96 and a beta of 1.40. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results 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 net margin of 0.64% and a return on equity of 16.58%. On average, equities research analysts predict that Performance Food Group will post 4.58 earnings per share for the current year.

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.