Performance Food Group Company $PFGC Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its holdings in Performance Food Group Company (NYSE:PFGC) by 16.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,556,991 shares of the food distribution company’s stock after selling 303,057 shares during the period. Jennison Associates LLC owned about 0.99% of Performance Food Group worth $161,989,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Holocene Advisors LP boosted its holdings in Performance Food Group by 8.6% in the second quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock valued at $269,318,000 after purchasing an additional 244,793 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Performance Food Group by 22.1% in the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after buying an additional 465,807 shares during the last quarter. Eminence Capital LP grew its holdings in Performance Food Group by 6.7% during the second quarter. Eminence Capital LP now owns 2,250,830 shares of the food distribution company’s stock worth $196,880,000 after acquiring an additional 141,864 shares during the period. Norges Bank purchased a new position in Performance Food Group during the second quarter valued at approximately $163,954,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Performance Food Group in the third quarter valued at approximately $152,717,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Trading Down 0.4%

Shares of PFGC opened at $93.80 on Friday. Performance Food Group Company has a 52-week low of $68.39 and a 52-week high of $109.05. The stock has a market cap of $14.71 billion, a PE ratio of 45.10, a price-to-earnings-growth ratio of 1.14 and a beta of 0.93. The firm’s fifty day moving average is $93.04 and its two-hundred day moving average is $97.84. The company has a quick ratio of 0.70, a current ratio of 1.67 and a debt-to-equity ratio of 1.55.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, November 5th. The food distribution company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.02. The business had revenue of $17.08 billion during the quarter, compared to analysts’ expectations of $16.87 billion. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share. Research analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on PFGC. Sanford C. Bernstein began coverage on shares of Performance Food Group in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $130.00 price objective on the stock. Morgan Stanley set a $123.00 price target on shares of Performance Food Group in a research report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. Wall Street Zen lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 4th. Finally, Guggenheim restated a “buy” rating on shares of Performance Food Group in a research note on Thursday, December 18th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $118.22.

Performance Food Group Company 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.