Hudson Bay Capital Management LP Trims Stock Holdings in Performance Food Group (NYSE:PFGC)

Hudson Bay Capital Management LP decreased its stake in Performance Food Group (NYSE:PFGC) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 134,615 shares of the food distribution company’s stock after selling 3,797 shares during the quarter. Hudson Bay Capital Management LP owned approximately 0.09% of Performance Food Group worth $11,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its position 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 worth $298,794,000 after buying an additional 401,235 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Performance Food Group by 134.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after buying an additional 371,078 shares in the last quarter. Jennison Associates LLC increased its position in Performance Food Group by 8.1% in the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock worth $141,003,000 after buying an additional 125,532 shares in the last quarter. Inspire Investing LLC purchased a new stake in Performance Food Group in the fourth quarter worth about $814,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Performance Food Group in the fourth quarter worth about $2,087,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Down 1.2%

Shares of PFGC stock opened at $84.42 on Monday. 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 stock’s 50 day simple moving average is $77.90 and its two-hundred day simple moving average is $83.21. The company has a market cap of $13.18 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The company had revenue of $15.31 billion for the quarter, compared to analysts’ expectations of $15.41 billion. During the same quarter last year, the company earned $0.80 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. Research analysts predict that Performance Food Group will post 4.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on PFGC. Morgan Stanley upped 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. Truist Financial dropped their price objective on Performance Food Group from $104.00 to $101.00 and set a “buy” rating for the company in a research note on Thursday. 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 note on Friday, February 7th. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Barclays increased their price target on Performance Food Group from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.55.

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.