Verdence Capital Advisors LLC Makes New Investment in Performance Food Group (NYSE:PFGC)

Verdence Capital Advisors LLC purchased a new stake in shares of Performance Food Group (NYSE:PFGC) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,144 shares of the food distribution company’s stock, valued at approximately $217,000.

Other hedge funds have also modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new position in Performance Food Group in the fourth quarter worth approximately $29,000. Fifth Third Bancorp boosted its position in Performance Food Group by 50.4% during the third quarter. Fifth Third Bancorp now owns 821 shares of the food distribution company’s stock valued at $48,000 after purchasing an additional 275 shares in the last quarter. Covestor Ltd raised its position in shares of Performance Food Group by 16.1% in the 3rd quarter. Covestor Ltd now owns 1,965 shares of the food distribution company’s stock valued at $116,000 after purchasing an additional 272 shares during the last quarter. Arlington Trust Co LLC purchased a new stake in Performance Food Group during the 4th quarter worth approximately $137,000. Finally, Acadian Asset Management LLC acquired a new position in Performance Food Group during the 3rd quarter valued at approximately $127,000. 96.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PFGC has been the topic of a number of research analyst reports. Stephens boosted their price objective on shares of Performance Food Group from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Morgan Stanley lifted their target price on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Barclays raised their target price on shares of Performance Food Group from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, BMO Capital Markets boosted their target price on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.25.

Performance Food Group Stock Up 0.4 %

PFGC opened at $69.28 on Wednesday. The company has a market cap of $10.78 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38. Performance Food Group has a twelve month low of $52.92 and a twelve month high of $78.54. The company has a 50-day moving average price of $73.90 and a 200 day moving average price of $68.29. The company has a quick ratio of 0.75, a current ratio of 1.71 and a debt-to-equity ratio of 1.05.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The firm had revenue of $14.30 billion for the quarter, compared to analyst estimates of $14.20 billion. During the same period in the previous year, the company earned $0.83 EPS. Performance Food Group’s revenue was up 2.9% compared to the same quarter last year. Sell-side analysts expect that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

Performance Food Group 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.