Franklin Resources Inc. Acquires 2,064 Shares of Performance Food Group (NYSE:PFGC)

Franklin Resources Inc. increased its holdings in Performance Food Group (NYSE:PFGC) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,531 shares of the food distribution company’s stock after acquiring an additional 2,064 shares during the period. Franklin Resources Inc. owned about 0.15% of Performance Food Group worth $19,153,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in shares of Performance Food Group by 154.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock worth $330,625,000 after purchasing an additional 2,371,818 shares during the last quarter. Norges Bank purchased a new stake in Performance Food Group in the 4th quarter valued at $164,471,000. JPMorgan Chase & Co. lifted its stake in Performance Food Group by 11.8% during 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 acquiring an additional 401,235 shares in the last quarter. TimesSquare Capital Management LLC boosted its holdings in Performance Food Group by 658.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company’s stock worth $38,902,000 after acquiring an additional 399,430 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Performance Food Group by 134.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after acquiring an additional 371,078 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Down 3.5 %

Shares of Performance Food Group stock opened at $73.39 on Monday. The stock has a market capitalization of $11.46 billion, a P/E ratio of 29.59, a P/E/G ratio of 0.96 and a beta of 1.16. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. The stock’s 50-day simple moving average is $82.19 and its 200 day simple moving average is $83.52.

Performance Food Group (NYSE:PFGC) last posted 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%. As a group, research analysts anticipate that Performance Food Group will post 4.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PFGC. Melius Research raised shares of Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Melius assumed coverage on Performance Food Group in a report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 target price for the company. Barclays dropped their price target on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Piper Sandler downgraded 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. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus price target of $95.73.

Performance Food Group Company 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.