Bank of Montreal Can Sells 189,873 Shares of Performance Food Group (NYSE:PFGC)

Bank of Montreal Can trimmed its holdings in shares of Performance Food Group (NYSE:PFGC) by 27.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 513,405 shares of the food distribution company’s stock after selling 189,873 shares during the quarter. Bank of Montreal Can owned 0.33% of Performance Food Group worth $40,153,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Eminence Capital LP grew its stake in shares of Performance Food Group by 7.4% during the 2nd quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock worth $158,572,000 after acquiring an additional 164,472 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after acquiring an additional 469,500 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of Performance Food Group by 29.1% during the 3rd quarter. Primecap Management Co. CA now owns 2,098,330 shares of the food distribution company’s stock worth $164,446,000 after acquiring an additional 473,050 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Performance Food Group by 27.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after acquiring an additional 372,218 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Performance Food Group by 1.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,258,714 shares of the food distribution company’s stock worth $83,214,000 after acquiring an additional 15,981 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Performance Food Group Trading Down 0.2 %

Shares of Performance Food Group stock opened at $87.91 on Friday. The business has a fifty day simple moving average of $82.31 and a two-hundred day simple moving average of $73.79. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $89.73. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 32.44, a P/E/G ratio of 0.96 and a beta of 1.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business had revenue of $15.42 billion for the quarter, compared to analyst estimates of $15.22 billion. During the same period in the prior year, the business earned $1.15 EPS. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Research analysts forecast that Performance Food Group will post 4.73 EPS for the current year.

Wall Street Analysts Forecast Growth

PFGC has been the subject of several research reports. Piper Sandler raised their price target on shares of Performance Food Group from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Morgan Stanley reissued an “equal weight” rating and issued a $92.00 price objective on shares of Performance Food Group in a report on Monday, October 28th. UBS Group increased their price objective on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, November 7th. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price objective on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.27.

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.