Performance Food Group Company $PFGC Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Performance Food Group Company (NYSE:PFGC) by 30.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 44,603 shares of the food distribution company’s stock after selling 19,907 shares during the period. Truist Financial Corp’s holdings in Performance Food Group were worth $4,640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PFGC. Norges Bank purchased a new position in shares of Performance Food Group in the 2nd quarter valued at about $163,954,000. Braun Stacey Associates Inc. acquired a new stake in Performance Food Group in the third quarter valued at approximately $13,055,000. Triasima Portfolio Management inc. purchased a new stake in shares of Performance Food Group in the second quarter valued at approximately $248,000. Strs Ohio increased its position in shares of Performance Food Group by 54.4% in the third quarter. Strs Ohio now owns 149,751 shares of the food distribution company’s stock valued at $15,580,000 after buying an additional 52,734 shares in the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of Performance Food Group by 22.1% during the 2nd quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock valued at $224,930,000 after buying an additional 465,807 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Price Performance

PFGC stock opened at $97.04 on Wednesday. Performance Food Group Company has a 1 year low of $68.39 and a 1 year high of $109.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.67 and a quick ratio of 0.70. The firm has a market capitalization of $15.22 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 1.14 and a beta of 0.93. The business has a 50 day simple moving average of $93.23 and a 200-day simple moving average of $97.94.

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

Analyst Ratings Changes

Several research firms have issued reports on PFGC. Barclays decreased their price objective on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Sanford C. Bernstein assumed coverage on shares of Performance Food Group in a research note on Wednesday, October 22nd. They issued an “outperform” rating and a $130.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Monday, December 29th. Morgan Stanley set a $123.00 target price on Performance Food Group in a research report on Tuesday, January 20th. Finally, Citigroup lowered their price target on Performance Food Group from $134.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, January 7th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.22.

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.