Performance Food Group (NYSE:PFGC) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its holdings in Performance Food Group (NYSE:PFGC) by 9.5% during the 4th quarter, HoldingsChannel reports. The fund owned 222,503 shares of the food distribution company’s stock after selling 23,247 shares during the quarter. Alliancebernstein L.P.’s holdings in Performance Food Group were worth $18,813,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PFGC. Victory Capital Management Inc. increased its holdings in Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock worth $330,625,000 after purchasing an additional 2,371,818 shares during the last quarter. Norges Bank bought a new stake in shares of Performance Food Group in the fourth quarter worth $164,471,000. JPMorgan Chase & Co. raised its holdings in 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 valued at $298,794,000 after acquiring an additional 401,235 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in Performance Food Group by 658.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company’s stock valued at $38,902,000 after acquiring an additional 399,430 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Performance Food Group by 134.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after acquiring an additional 371,078 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of PFGC opened at $71.57 on Tuesday. 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 company has a market cap of $11.18 billion, a P/E ratio of 28.86, a PEG ratio of 0.96 and a beta of 1.16. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The stock has a fifty day moving average price of $81.81 and a 200 day moving average price of $83.48.

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

Analyst Ratings Changes

PFGC has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Barclays cut their price objective on 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. Melius Research upgraded Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Piper Sandler lowered Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $92.00 to $90.00 in a research report on Friday, February 7th. Finally, Morgan Stanley raised their price objective on Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.73.

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.