Wolverine Asset Management LLC Lowers Stock Holdings in Performance Food Group (NYSE:PFGC)

Wolverine Asset Management LLC reduced its position in Performance Food Group (NYSE:PFGC) by 12.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,913 shares of the food distribution company’s stock after selling 274 shares during the period. Wolverine Asset Management LLC’s holdings in Performance Food Group were worth $162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of Performance Food Group by 26.3% during the 3rd quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock valued at $1,043,293,000 after buying an additional 2,773,547 shares during the period. State Street Corp boosted its position in Performance Food Group by 2.2% during the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock worth $360,197,000 after purchasing an additional 97,069 shares during the period. JPMorgan Chase & Co. lifted its holdings in Performance Food Group by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after buying an additional 401,235 shares in the last quarter. Holocene Advisors LP lifted its holdings in Performance Food Group by 32.0% in the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock worth $234,174,000 after buying an additional 724,094 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Performance Food Group by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,587,054 shares of the food distribution company’s stock valued at $202,803,000 after purchasing an additional 36,385 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

NYSE PFGC opened at $82.90 on Tuesday. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 33.43, a price-to-earnings-growth ratio of 0.96 and a beta of 1.44. The company has a 50-day moving average price of $86.46 and a two-hundred day moving average price of $82.37.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. Analysts forecast that Performance Food Group will post 4.58 EPS for the current year.

Wall Street Analyst Weigh In

PFGC has been the topic of a number of recent analyst reports. UBS Group upped their target price on shares of Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley upped their target price on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. BMO Capital Markets upped their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Truist Financial upped their target price on shares of Performance Food Group from $88.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Guggenheim boosted their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.73.

Insider Activity

In related news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the completion of the sale, the insider now directly owns 172,372 shares of the company’s stock, valued at $14,582,671.20. This represents a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

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.