Performance Food Group (NYSE:PFGC) Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its stake in shares of Performance Food Group (NYSE:PFGC) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,244 shares of the food distribution company’s stock after selling 539 shares during the period. DAVENPORT & Co LLC’s holdings in Performance Food Group were worth $443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFGC. JPMorgan Chase & Co. increased 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 buying an additional 401,235 shares in the last quarter. Aigen Investment Management LP increased its stake in shares of Performance Food Group by 56.1% during the third quarter. Aigen Investment Management LP now owns 16,974 shares of the food distribution company’s stock worth $1,330,000 after purchasing an additional 6,099 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of Performance Food Group during the third quarter worth about $2,772,000. State Street Corp grew its stake in Performance Food Group by 2.2% during the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock valued at $360,197,000 after acquiring an additional 97,069 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake 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 valued at $54,665,000 after acquiring an additional 371,078 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $85.10 on Friday. The company has a market cap of $13.26 billion, a PE ratio of 31.40, a price-to-earnings-growth ratio of 0.97 and a beta of 1.44. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The company has a 50-day simple moving average of $87.31 and a 200-day simple moving average of $80.53.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. On average, equities analysts anticipate that Performance Food Group will post 4.74 earnings per share for the current year.

Insider Transactions at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total value of $1,809,386.88. Following the completion of the sale, the insider now owns 192,868 shares in the company, valued at approximately $17,026,387.04. The trade was a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Melius assumed coverage on shares of Performance Food Group in a report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 target price on the stock. UBS Group upped their price objective on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley upped their target price on shares of 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. BMO Capital Markets increased their price objective on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Piper Sandler downgraded shares of Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $90.00 in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average target price of $94.83.

Performance Food Group 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.