Summit Global Investments Takes Position in Performance Food Group (NYSE:PFGC)

Summit Global Investments purchased a new position in shares of Performance Food Group (NYSE:PFGC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 54,917 shares of the food distribution company’s stock, valued at approximately $3,798,000.

A number of other large investors have also bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Performance Food Group in the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new stake in Performance Food Group in the fourth quarter valued at $29,000. Signaturefd LLC raised its position in shares of Performance Food Group by 38.8% in the 4th quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock worth $35,000 after acquiring an additional 143 shares in the last quarter. Fifth Third Bancorp grew its position in Performance Food Group by 50.4% during the 3rd 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 during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Performance Food Group during the 4th quarter valued at about $48,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

PFGC traded up $0.27 during trading on Thursday, hitting $68.70. 666,533 shares of the company traded hands, compared to its average volume of 934,024. The company has a current ratio of 1.71, a quick ratio of 0.75 and a debt-to-equity ratio of 1.05. The company has a market cap of $10.69 billion, a PE ratio of 24.97, a P/E/G ratio of 0.93 and a beta of 1.39. The stock’s 50-day simple moving average is $73.25 and its two-hundred day simple moving average is $68.78. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing the consensus estimate 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 company had revenue of $14.30 billion for the quarter, compared to the consensus estimate of $14.20 billion. During the same period last year, the company earned $0.83 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.