Holocene Advisors LP Lowers Position in Performance Food Group Company $PFGC

Holocene Advisors LP decreased its stake in shares of Performance Food Group Company (NYSE:PFGC) by 45.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,673,414 shares of the food distribution company’s stock after selling 1,405,563 shares during the period. Holocene Advisors LP’s holdings in Performance Food Group were worth $174,102,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PFGC. Goldman Sachs Group Inc. grew its stake in shares of Performance Food Group by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after buying an additional 184,066 shares during the period. Empowered Funds LLC acquired a new stake in shares of Performance Food Group during the 1st quarter worth $359,000. ProShare Advisors LLC raised its position in shares of Performance Food Group by 4.0% in the 2nd quarter. ProShare Advisors LLC now owns 6,920 shares of the food distribution company’s stock worth $605,000 after buying an additional 264 shares during the period. Allworth Financial LP boosted its holdings in Performance Food Group by 247.0% in the second quarter. Allworth Financial LP now owns 2,030 shares of the food distribution company’s stock valued at $178,000 after acquiring an additional 1,445 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new position in Performance Food Group in the second quarter valued at $225,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PFGC. Barclays dropped their price target on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a report on Thursday, December 18th. Piper Sandler dropped their target price on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Zacks Research lowered shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Finally, UBS Group reduced their price target on shares of 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. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus price target of $116.44.

Performance Food Group Trading Up 1.1%

NYSE:PFGC opened at $88.19 on Monday. The business’s 50-day moving average is $93.43 and its two-hundred day moving average is $96.66. The firm has a market capitalization of $13.83 billion, a PE ratio of 40.09, a price-to-earnings-growth ratio of 1.24 and a beta of 0.91. Performance Food Group Company has a 12 month low of $68.39 and a 12 month high of $109.05. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68.

Performance Food Group (NYSE:PFGC) last issued its 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 return on equity of 15.64% and a net margin of 0.52%.The company had revenue of $16.44 billion during the quarter, compared to analysts’ expectations of $16.54 billion. During the same period in the previous year, the company earned $0.98 EPS. Performance Food Group’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts predict that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the transaction, the insider owned 6,601 shares in the company, valued at $607,490.03. This represents a 21.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

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.