Vanguard Group Inc. Lowers Stock Holdings in Performance Food Group (NYSE:PFGC)

Vanguard Group Inc. cut its holdings in Performance Food Group (NYSE:PFGC) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,529,500 shares of the food distribution company’s stock after selling 325,862 shares during the quarter. Vanguard Group Inc. owned 9.94% of Performance Food Group worth $1,313,019,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PFGC. Citigroup Inc. grew its stake in Performance Food Group by 3.9% in the 3rd quarter. Citigroup Inc. now owns 88,312 shares of the food distribution company’s stock valued at $6,921,000 after acquiring an additional 3,298 shares during the period. Cerity Partners LLC grew its position in shares of Performance Food Group by 12.7% in the third quarter. Cerity Partners LLC now owns 61,186 shares of the food distribution company’s stock valued at $4,795,000 after purchasing an additional 6,892 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Performance Food Group by 110.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 2,290 shares of the food distribution company’s stock worth $179,000 after purchasing an additional 1,201 shares in the last quarter. FMR LLC raised its position 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 worth $1,043,293,000 after purchasing an additional 2,773,547 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in Performance Food Group by 14.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,742 shares of the food distribution company’s stock valued at $372,000 after buying an additional 599 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PFGC has been the subject of a number of research analyst reports. Melius began coverage on Performance Food Group in a report on Wednesday, December 18th. They set a “hold” rating and a $95.00 target price for the company. Piper Sandler downgraded Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $92.00 to $90.00 in a research note on Friday, February 7th. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Morgan Stanley upped their target price on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Barclays decreased their price target on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and an average price target of $95.73.

Performance Food Group Stock Performance

NYSE:PFGC opened at $78.01 on Friday. The company’s 50-day moving average is $83.50 and its two-hundred day moving average is $83.20. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 0.96 and a beta of 1.40. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44.

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