Lighthouse Investment Partners LLC Purchases Shares of 48,000 Performance Food Group (NYSE:PFGC)

Lighthouse Investment Partners LLC purchased a new stake in Performance Food Group (NYSE:PFGC) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 48,000 shares of the food distribution company’s stock, valued at approximately $4,058,000.

A number of other hedge funds have also recently bought and sold shares of PFGC. JPMorgan Chase & Co. grew its stake in Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after purchasing an additional 401,235 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Performance Food Group by 134.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after acquiring an additional 371,078 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Performance Food Group by 20.1% during the 4th quarter. Park Avenue Securities LLC now owns 10,537 shares of the food distribution company’s stock worth $891,000 after acquiring an additional 1,763 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of Performance Food Group by 121.5% during the 4th quarter. Artemis Investment Management LLP now owns 290,478 shares of the food distribution company’s stock worth $24,560,000 after acquiring an additional 159,325 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Performance Food Group by 69.1% during 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 last quarter. 96.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler lowered Performance Food Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $90.00 in a report on Friday, February 7th. Morgan Stanley boosted their target price 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. Truist Financial decreased their target price on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Barclays boosted their target price on Performance Food Group from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Finally, StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.55.

Performance Food Group Stock Performance

PFGC opened at $87.58 on Tuesday. The business has a fifty day simple moving average of $78.02 and a 200 day simple moving average of $83.25. The company has a market capitalization of $13.67 billion, a PE ratio of 35.31, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.07). The company had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. Performance Food Group’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. Research analysts expect that Performance Food Group will post 4.58 EPS for the current year.

About Performance Food Group

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.