Norges Bank Makes New $164.47 Million Investment in Performance Food Group (NYSE:PFGC)

Norges Bank acquired a new stake in Performance Food Group (NYSE:PFGC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,945,253 shares of the food distribution company’s stock, valued at approximately $164,471,000.

A number of other hedge funds have also made changes to their positions in the stock. Coldstream Capital Management Inc. raised its position in Performance Food Group by 3.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company’s stock worth $329,000 after acquiring an additional 142 shares in the last quarter. Highland Capital Management LLC grew its stake in shares of Performance Food Group by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 2,915 shares of the food distribution company’s stock worth $246,000 after purchasing an additional 183 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of Performance Food Group by 64.6% in the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock worth $42,000 after purchasing an additional 212 shares in the last quarter. M&T Bank Corp lifted its stake in Performance Food Group by 1.1% during the fourth quarter. M&T Bank Corp now owns 18,891 shares of the food distribution company’s stock valued at $1,597,000 after purchasing an additional 213 shares during the last quarter. Finally, J.Safra Asset Management Corp boosted its holdings in Performance Food Group by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company’s stock worth $66,000 after buying an additional 226 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Price Performance

NYSE PFGC opened at $78.67 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 31.72, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40. The company has a 50 day simple moving average of $83.11 and a 200-day simple moving average of $83.45. 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 released its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Equities research analysts predict that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PFGC has been the topic of several research reports. StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Melius started coverage on Performance Food Group in a research report on Wednesday, December 18th. They set a “hold” rating and a $95.00 target price on the stock. Barclays decreased their price target on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Morgan Stanley boosted their price objective on Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Melius Research upgraded shares of Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.