Vanguard Group Inc. Cuts Position in Performance Food Group Company $PFGC

Vanguard Group Inc. trimmed its stake in Performance Food Group Company (NYSE:PFGC) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,230,884 shares of the food distribution company’s stock after selling 126,942 shares during the period. Vanguard Group Inc. owned 9.71% of Performance Food Group worth $1,584,621,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PFGC. State of New Jersey Common Pension Fund D raised its holdings in Performance Food Group by 10.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 52,117 shares of the food distribution company’s stock worth $5,422,000 after purchasing an additional 5,041 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Performance Food Group by 1.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock valued at $1,134,000 after buying an additional 113 shares in the last quarter. BTC Capital Management Inc. boosted its holdings in shares of Performance Food Group by 10.2% in the 3rd quarter. BTC Capital Management Inc. now owns 5,489 shares of the food distribution company’s stock valued at $571,000 after buying an additional 506 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new position in shares of Performance Food Group in the 3rd quarter worth approximately $295,000. Finally, Illinois Municipal Retirement Fund raised its stake in shares of Performance Food Group by 8.6% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 74,295 shares of the food distribution company’s stock worth $7,730,000 after acquiring an additional 5,861 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PFGC shares. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Piper Sandler dropped their target price on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. UBS Group reduced their target price on Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Finally, Guggenheim reissued a “buy” rating on shares of Performance Food Group in a report on Thursday, December 18th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.44.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the sale, the insider directly owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by corporate insiders.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $97.73 on Friday. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of 44.42, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68. The business has a fifty day moving average of $93.43 and a 200 day moving average of $97.52. Performance Food Group Company has a 1 year low of $68.39 and a 1 year high of $109.05.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The firm had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts expect that Performance Food Group Company will post 4.58 earnings per share for the current year.

Performance Food Group Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.