Natixis Advisors L.P. Decreases Stake in Performance Food Group (NYSE:PFGC)

Natixis Advisors L.P. reduced its stake in shares of Performance Food Group (NYSE:PFGC) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 644,850 shares of the food distribution company’s stock after selling 48,688 shares during the period. Natixis Advisors L.P. owned approximately 0.41% of Performance Food Group worth $44,591,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PFGC. Vanguard Group Inc. raised its holdings in Performance Food Group by 0.7% in the third quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock valued at $937,613,000 after buying an additional 107,449 shares during the period. FMR LLC increased its holdings in Performance Food Group by 0.8% in the third quarter. FMR LLC now owns 12,441,763 shares of the food distribution company’s stock valued at $732,322,000 after buying an additional 98,756 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Performance Food Group by 16.1% in the third quarter. Clearbridge Investments LLC now owns 6,348,695 shares of the food distribution company’s stock valued at $373,684,000 after buying an additional 879,232 shares during the last quarter. Invesco Ltd. increased its holdings in Performance Food Group by 8.3% in the third quarter. Invesco Ltd. now owns 3,696,115 shares of the food distribution company’s stock valued at $217,553,000 after buying an additional 283,786 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in Performance Food Group by 6.1% in the fourth quarter. Jennison Associates LLC now owns 2,293,472 shares of the food distribution company’s stock valued at $158,594,000 after buying an additional 131,031 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

Shares of NYSE:PFGC traded up $0.72 on Friday, hitting $69.21. 1,023,258 shares of the company were exchanged, compared to its average volume of 1,114,639. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.75 and a current ratio of 1.71. The company’s 50 day moving average price is $73.12 and its two-hundred day moving average price is $68.77. Performance Food Group has a one year low of $52.92 and a one year high of $78.54. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 0.94 and a beta of 1.40.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.20 billion. Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. Performance Food Group’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. Research analysts expect that Performance Food Group will post 4.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PFGC. StockNews.com upgraded Performance Food Group from a “hold” rating to a “buy” 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 note on Thursday, February 8th. Morgan Stanley lifted their target price on Performance Food Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Barclays boosted their price objective on Performance Food Group from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Finally, BMO Capital Markets boosted their price objective on Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.25.

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.