Norges Bank Takes $164.47 Million Position in Performance Food Group (NYSE:PFGC)

Norges Bank purchased a new position in shares of Performance Food Group (NYSE:PFGC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,945,253 shares of the food distribution company’s stock, valued at approximately $164,471,000. Norges Bank owned 1.25% of Performance Food Group at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in shares of Performance Food Group during the 4th quarter valued at approximately $26,000. Central Pacific Bank Trust Division acquired a new stake in Performance Food Group in the fourth quarter valued at $42,000. Blue Trust Inc. boosted its stake in Performance Food Group by 64.6% during the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock valued at $42,000 after acquiring an additional 212 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Performance Food Group by 51.4% during the 4th quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock worth $60,000 after acquiring an additional 239 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Performance Food Group by 69.1% in the 4th quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock worth $65,000 after purchasing an additional 313 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PFGC shares. StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Barclays decreased their target price 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. Melius initiated coverage on Performance Food Group in a research report on Wednesday, December 18th. They set a “hold” rating and a $95.00 price target on the stock. Melius Research raised shares of Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Finally, Morgan Stanley increased their target price 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. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.73.

Performance Food Group Trading Up 1.7 %

Performance Food Group stock opened at $78.67 on Tuesday. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. 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 has a market capitalization of $12.29 billion, a price-to-earnings ratio of 31.72, a PEG ratio of 0.96 and a beta of 1.40. The firm has a 50-day moving average price of $83.11 and a two-hundred day moving average price of $83.45.

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

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.