Ontario Teachers Pension Plan Board Invests $346,000 in Performance Food Group (NYSE:PFGC)

Ontario Teachers Pension Plan Board acquired a new stake in Performance Food Group (NYSE:PFGC) in the first quarter, Holdings Channel reports. The firm acquired 4,641 shares of the food distribution company’s stock, valued at approximately $346,000.

A number of other institutional investors have also recently made changes to their positions in PFGC. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Performance Food Group in the fourth quarter valued at $29,000. GAMMA Investing LLC purchased a new stake in Performance Food Group during the 4th quarter worth about $29,000. Rise Advisors LLC acquired a new stake in Performance Food Group in the 1st quarter valued at about $29,000. Signaturefd LLC boosted its stake 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 valued at $35,000 after buying an additional 143 shares during the period. Finally, Mather Group LLC. acquired a new position in shares of Performance Food Group during the first quarter worth about $44,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Morgan Stanley dropped their target price on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, Barclays lowered their price objective on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and an average target price of $80.57.

Performance Food Group Stock Performance

PFGC traded up $1.18 on Monday, reaching $66.48. The company had a trading volume of 951,767 shares, compared to its average volume of 1,040,680. The stock has a 50-day moving average price of $67.89 and a 200-day moving average price of $70.86. The stock has a market capitalization of $10.34 billion, a PE ratio of 24.66, a P/E/G ratio of 0.81 and a beta of 1.42. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. The company has a quick ratio of 0.77, a current ratio of 1.64 and a debt-to-equity ratio of 0.96.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.10 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.22%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.83 earnings per share. As a group, research analysts forecast that Performance Food Group will post 4.2 EPS for the current fiscal 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.