KLP Kapitalforvaltning AS Takes $3.70 Million Position in Performance Food Group (NYSE:PFGC)

KLP Kapitalforvaltning AS bought a new stake in Performance Food Group (NYSE:PFGC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 43,720 shares of the food distribution company’s stock, valued at approximately $3,697,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Millstone Evans Group LLC acquired a new stake in Performance Food Group during the 4th quarter worth approximately $26,000. Central Pacific Bank Trust Division acquired a new stake in shares of Performance Food Group during the fourth quarter worth $42,000. Blue Trust Inc. grew its position in Performance Food Group by 64.6% in the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock valued at $42,000 after buying an additional 212 shares during the last quarter. V Square Quantitative Management LLC increased its stake in Performance Food Group by 51.4% in the 4th quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock valued at $60,000 after buying an additional 239 shares during the period. Finally, UMB Bank n.a. lifted its stake 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 acquiring an additional 313 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Performance Food Group stock opened at $77.93 on Thursday. The firm’s 50-day moving average is $83.68 and its two-hundred day moving average is $83.24. 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 stock has a market capitalization of $12.17 billion, a P/E ratio of 31.42, a P/E/G ratio of 0.96 and a beta of 1.40. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. Equities analysts predict that Performance Food Group will post 4.58 earnings per share for the current year.

Wall Street Analyst Weigh In

PFGC has been the subject of several analyst reports. Melius assumed coverage on shares of Performance Food Group in a report on Wednesday, December 18th. They set a “hold” rating and a $95.00 price target for the company. Barclays reduced their price target on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Morgan Stanley increased their price objective on Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Piper Sandler cut shares of Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Melius Research upgraded shares of Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $95.73.

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.