Steph & Co. Lowers Stake in Performance Food Group (NYSE:PFGC)

Steph & Co. decreased its position in shares of Performance Food Group (NYSE:PFGC) by 32.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,171 shares of the food distribution company’s stock after selling 1,976 shares during the period. Steph & Co.’s holdings in Performance Food Group were worth $353,000 as of its most recent SEC filing.

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

Performance Food Group Trading Up 0.6 %

NYSE PFGC opened at $86.91 on Thursday. The company’s fifty day simple moving average is $86.31 and its 200-day simple moving average is $77.79. The stock has a market cap of $13.54 billion, a P/E ratio of 32.07, a PEG ratio of 0.91 and a beta of 1.43. 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 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm had revenue of $15.42 billion during the quarter, compared to analysts’ expectations of $15.22 billion. During the same period in the previous year, the company earned $1.15 earnings per share. The business’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that Performance Food Group will post 4.74 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $84.60, for a total value of $1,733,961.60. Following 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 legal filing with the SEC, which is accessible through this link. 2.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PFGC shares. Piper Sandler boosted their price objective on shares of Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. UBS Group lifted their target price on Performance Food Group from $98.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Melius Research upgraded Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group raised their price objective on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Performance Food Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.33.

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.