Franklin Resources Inc. Raises Stock Position in Performance Food Group (NYSE:PFGC)

Franklin Resources Inc. raised its position in Performance Food Group (NYSE:PFGC) by 0.9% in the 4th quarter, Holdings Channel reports. The firm owned 226,531 shares of the food distribution company’s stock after buying an additional 2,064 shares during the quarter. Franklin Resources Inc.’s holdings in Performance Food Group were worth $19,153,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PFGC. JPMorgan Chase & Co. boosted its stake in Performance Food Group by 11.8% during the third 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 during the period. State Street Corp boosted its position in shares of Performance Food Group by 2.2% during the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock valued at $360,197,000 after acquiring an additional 97,069 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of Performance Food Group during the third quarter worth about $2,772,000. Assenagon Asset Management S.A. increased its position in shares of Performance Food Group by 134.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after purchasing an additional 371,078 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Performance Food Group by 8.1% in the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock valued at $141,003,000 after purchasing an additional 125,532 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Stock Down 3.5 %

Shares of NYSE PFGC opened at $73.39 on Monday. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 29.59, 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. The firm’s fifty day moving average is $82.19 and its 200 day moving average is $83.52. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 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 expect that Performance Food Group will post 4.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley increased their price target 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. Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Barclays dropped their price target on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Finally, Melius assumed coverage on Performance Food Group in a research report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average 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.