TimesSquare Capital Management LLC Cuts Stock Position in Performance Food Group (NYSE:PFGC)

TimesSquare Capital Management LLC cut its holdings in shares of Performance Food Group (NYSE:PFGC) by 46.0% during the fourth quarter, Holdings Channel reports. The firm owned 123,100 shares of the food distribution company’s stock after selling 104,900 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Performance Food Group were worth $8,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James & Associates grew its position in shares of Performance Food Group by 15.5% during the third quarter. Raymond James & Associates now owns 191,955 shares of the food distribution company’s stock worth $11,298,000 after buying an additional 25,715 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Performance Food Group during the third quarter worth about $203,000. Stratos Wealth Partners LTD. boosted its holdings in Performance Food Group by 46.3% in the third quarter. Stratos Wealth Partners LTD. now owns 8,441 shares of the food distribution company’s stock valued at $497,000 after purchasing an additional 2,670 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Performance Food Group by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 1,475,973 shares of the food distribution company’s stock valued at $86,876,000 after purchasing an additional 35,858 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Performance Food Group by 17.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,450 shares of the food distribution company’s stock valued at $1,792,000 after purchasing an additional 4,522 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PFGC shares. Barclays lowered their price target on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating for the company in a report on Thursday. Stephens upped their price target on Performance Food Group from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. BMO Capital Markets increased their price objective on Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Finally, Morgan Stanley increased their price objective on 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 issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $81.00.

Performance Food Group Price Performance

NYSE:PFGC traded down $0.12 during trading hours on Friday, hitting $70.87. The company’s stock had a trading volume of 21,206 shares, compared to its average volume of 975,394. The business’s 50-day moving average is $72.46 and its two-hundred day moving average is $69.26. The company has a market capitalization of $11.03 billion, a PE ratio of 25.97, a PEG ratio of 0.95 and a beta of 1.40. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.75 and a current ratio of 1.71. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $78.54.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The business had revenue of $13.86 billion during the quarter, compared to analysts’ expectations of $14.10 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The company’s revenue was up .6% compared to the same quarter last year. As a group, research analysts anticipate that Performance Food Group will post 4.26 EPS for the current fiscal year.

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.