Artemis Investment Management LLP Raises Stock Holdings in Performance Food Group (NYSE:PFGC)

Artemis Investment Management LLP increased its stake in shares of Performance Food Group (NYSE:PFGC) by 121.5% in the fourth quarter, HoldingsChannel reports. The firm owned 290,478 shares of the food distribution company’s stock after buying an additional 159,325 shares during the quarter. Artemis Investment Management LLP’s holdings in Performance Food Group were worth $24,560,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in 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 acquiring an additional 401,235 shares during the last quarter. Aigen Investment Management LP increased its stake in Performance Food Group by 56.1% in the third quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company’s stock valued at $1,330,000 after purchasing an additional 6,099 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Performance Food Group during the third quarter worth about $2,772,000. State Street Corp boosted its stake in Performance Food Group by 2.2% in the 3rd 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 during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Performance Food Group in the 3rd quarter valued at about $3,032,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Melius Research raised shares of Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Jefferies Financial Group lifted their price target on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. BMO Capital Markets upped their price objective on Performance Food Group from $87.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Guggenheim increased their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.33.

Performance Food Group Stock Performance

Shares of NYSE:PFGC opened at $87.76 on Friday. The business’s 50-day simple moving average is $86.37 and its 200 day simple moving average is $78.17. The company has a market cap of $13.67 billion, a P/E ratio of 32.38, a PEG ratio of 0.91 and a beta of 1.43. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.73 and a current ratio of 1.70. Performance Food Group has a one year low of $61.60 and a one year high of $92.44.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The firm had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 EPS. On average, sell-side analysts forecast that Performance Food Group will post 4.74 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $84.60, for a total value of $1,733,961.60. Following the transaction, the insider now directly owns 172,372 shares of the company’s stock, valued at $14,582,671.20. This represents a 10.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by corporate insiders.

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.