Bryce Point Capital LLC Makes New Investment in Performance Food Group (NYSE:PFGC)

Bryce Point Capital LLC purchased a new stake in shares of Performance Food Group (NYSE:PFGC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,549 shares of the food distribution company’s stock, valued at approximately $554,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in Performance Food Group in the 4th quarter valued at $26,000. Central Pacific Bank Trust Division acquired a new stake in Performance Food Group during the fourth quarter valued at approximately $42,000. Blue Trust Inc. boosted its stake 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 in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of 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 purchasing an additional 239 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in Performance Food Group by 69.1% in the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock valued at $65,000 after buying an additional 313 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays decreased their price objective on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Melius Research upgraded Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Morgan Stanley boosted their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and cut their price target for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Melius began coverage on Performance Food Group in a research report on Wednesday, December 18th. They set a “hold” rating and a $95.00 price objective for the company. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.73.

Performance Food Group Price Performance

NYSE:PFGC opened at $81.03 on Thursday. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44. The firm has a market capitalization of $12.66 billion, a price-to-earnings ratio of 32.67, a P/E/G ratio of 0.96 and a beta of 1.40. The stock’s 50 day moving average price is $82.76 and its two-hundred day moving average price is $83.47. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share 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%. On average, analysts anticipate that Performance Food Group will post 4.58 earnings per share 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.