Kennedy Capital Management LLC Trims Stock Position in Performance Food Group (NYSE:PFGC)

Kennedy Capital Management LLC cut its holdings in shares of Performance Food Group (NYSE:PFGC) by 9.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 184,105 shares of the food distribution company’s stock after selling 19,485 shares during the period. Kennedy Capital Management LLC’s holdings in Performance Food Group were worth $15,566,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Treasurer of the State of North Carolina boosted its stake in Performance Food Group by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 67,193 shares of the food distribution company’s stock valued at $5,681,000 after acquiring an additional 420 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Performance Food Group during the fourth quarter worth $16,830,000. Bank of Nova Scotia purchased a new position in Performance Food Group in the fourth quarter valued at $9,457,000. Invesco Ltd. increased its holdings in Performance Food Group by 11.9% in the fourth quarter. Invesco Ltd. now owns 1,719,075 shares of the food distribution company’s stock valued at $145,348,000 after buying an additional 182,335 shares in the last quarter. Finally, Polymer Capital Management US LLC purchased a new position in Performance Food Group in the fourth quarter valued at $267,000. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Price Performance

Shares of PFGC opened at $78.18 on Thursday. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The firm’s 50 day moving average price is $80.57 and its 200 day moving average price is $83.33. The company has a market cap of $12.21 billion, a P/E ratio of 31.52, a PEG ratio of 0.96 and a beta of 1.16. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. On average, research analysts forecast that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PFGC. Melius Research raised shares of Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley boosted their target price on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Melius began coverage on shares of Performance Food Group in a report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 target price on the stock. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $92.00 to $90.00 in a report on Friday, February 7th. Finally, StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.73.

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.