Corebridge Financial Inc. Cuts Stock Position in Performance Food Group (NYSE:PFGC)

Corebridge Financial Inc. trimmed its position in shares of Performance Food Group (NYSE:PFGC) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,528 shares of the food distribution company’s stock after selling 7,989 shares during the period. Corebridge Financial Inc. owned about 0.11% of Performance Food Group worth $14,925,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in shares of Performance Food Group during the fourth quarter worth approximately $26,000. Central Pacific Bank Trust Division bought a new position in shares of Performance Food Group during the 4th quarter valued at $42,000. Blue Trust Inc. raised its position 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 worth $42,000 after purchasing an additional 212 shares during the period. V Square Quantitative Management LLC lifted its stake in Performance Food Group by 51.4% in the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock worth $60,000 after purchasing an additional 239 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Performance Food Group by 69.1% during 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 during the period. Institutional investors own 96.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PFGC. Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $90.00 in a report on Friday, February 7th. Barclays cut their target price 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. Morgan Stanley upped 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. Melius Research raised shares of Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Finally, StockNews.com downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.73.

Performance Food Group Trading Up 2.2 %

Shares of NYSE PFGC opened at $78.47 on Tuesday. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The firm has a 50-day moving average of $84.06 and a 200 day moving average of $83.24. The stock has a market cap of $12.26 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40.

Performance Food Group (NYSE:PFGC) last released its earnings results 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%. As a group, sell-side analysts expect that Performance Food Group will post 4.58 EPS for the current fiscal year.

Performance Food Group Company Profile

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.