ClearBridge Investments: “Performance Food Group (PFGC) is Another Example of a Quality Franchise”

ClearBridge Investments, an investment management firm, published its “Select Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Select Strategy underperformed its Russell 3000 Index benchmark in the fourth quarter. On an absolute basis, the Strategy had gains in eight of the 10 sectors in which it was invested during the quarter (out of 11 sectors total). The industrials and financials sectors were the primary contributors to performance while the communication services and consumer discretionary sectors were detractors. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

ClearBridge Investments Select Strategy, in its Q4 2021 investor letter, mentioned Performance Food Group Company (NYSE:PFGC) and discussed its stance on the firm. Founded in 1885, Performance Food Group Company (NYSE:PFGC) is a Richmond, Virginia-based food service provider with a $7.7 billion market capitalization, and is currently spearheaded by its CEO, George Holm. Performance Food Group Company (NYSE:PFGC) delivered an 8.83% return since the beginning of the year, while its 12-month returns are down by -13.33%. The stock closed at $49.94 per share on April 05, 2022.

Here is what ClearBridge Investments Select Strategy has to say about Performance Food Group Company (NYSE:PFGC) in its Q4 2021 investor letter:

“Performance Food Group is another example of a quality franchise bought during a depressing period for the foodservice industry that has flexed its balance sheet to make acquisitions of weaker players and continues to consolidate its leading market share.”

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Our calculations show that Performance Food Group Company (NYSE:PFGC) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Performance Food Group Company (NYSE:PFGC) was in 33 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 36 funds in the previous quarter. Performance Food Group Company (NYSE:PFGC) delivered a 7.19% return in the past 3 months.

In January 2022, we also shared another hedge fund’s views on Performance Food Group Company (NYSE:PFGC) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.