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Allspring Global Investments Holdings LLC Holds $396K Stock Position in Performance Food Group (NYSE:PFGC)

Allspring Global Investments Holdings LLC Holds 6K Stock Position in Performance Food Group (NYSE:PFGC)


Allspring Global Investments Holdings LLC has increased its position in Performance Food Group (NYSE:PFGCFree Report) rose 12.4% in the first quarter, according to its latest filing with the Securities and Exchange Commission. The company now owns 5,305 shares of the food distribution company after purchasing an additional 584 shares during the period. Allspring Global Investments Holdings LLC’s shares in Performance Food Group were valued at $396,000 at the end of the last quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PFGC. Point72 Asset Management LP increased its stake in Performance Food Group by 414.1% in the 4th quarter. Point72 Asset Management LP now owns 2,198,282 shares of the food distribution company worth $152,011,000 after purchasing an additional 1,770,683 shares during the period. Norges Bank acquired a new position in Performance Food Group in the 4th quarter worth $119,726,000. Wellington Management Group LLP increased its stake in Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company worth $447,645,000 after purchasing an additional 397,114 shares during the period. Lighthouse Investment Partners LLC acquired a new position in Performance Food Group in the 4th quarter worth $11,410,000. Finally, Primecap Management Co. CA acquired a new position in Performance Food Group in the 4th quarter worth $11,230,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays lowered their price target on shares of Performance Food Group from $86.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Morgan Stanley raised their price target on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating. Finally, StockNews.com Performance Food Group upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11. One investment analyst has rated the stock with a hold rating, while seven have given a buy rating. The stock currently has an average rating of “Moderate Buy” and an average target price of $81.14, according to data from MarketBeat.

View Our Latest Report on PFGC

Performance Food Group Stock Up 0.6%

Shares PFGC stock It opened at $62.00 on Thursday. The company’s debt-to-equity ratio is 0.96, liquidity ratio is 0.77 and current ratio is 1.64. The company’s 50-day moving average is $68.56 and 200-day moving average is $71.07. The stock has a market cap of $9.65 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 0.78 and a beta of 1.42. Performance Food Group’s 52-week low is $52.92 and a 52-week high is $78.54.

Performance Food Group (NYSE:PFGCGet a Free Report) released its latest earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimate of $0.83 by ($0.03). The company had revenue of $13.86 billion for the quarter, compared to the consensus estimate of $14.10 billion. Performance Food Group had a net margin of 0.72% and return on equity of 16.22%. The company’s revenue for the quarter was up 0.6% from the year-ago quarter. The company reported $0.83 earnings per share in the same period a year ago. Sell-side analysts are forecasting Performance Food Group to report 4.21 EPS for the current year.

About Performance Food Group

(Free Report)

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 frozen foods, grocery, confectionery, snacks, beverages, cigarettes and other tobacco products; beef, pork, poultry and seafood; and a range of health and beauty care products.

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