BNP Paribas Financial Markets Sells 117,349 Shares of Performance Food Group (NYSE:PFGC)

BNP Paribas Financial Markets cut its stake in shares of Performance Food Group (NYSE:PFGC - Free Report) by 80.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,869 shares of the food distribution company's stock after selling 117,349 shares during the quarter. BNP Paribas Financial Markets' holdings in Performance Food Group were worth $2,441,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PFGC. Victory Capital Management Inc. grew its position in Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock worth $330,625,000 after acquiring an additional 2,371,818 shares during the last quarter. Norges Bank bought a new stake in shares of Performance Food Group during the fourth quarter worth $164,471,000. Freestone Grove Partners LP bought a new stake in shares of Performance Food Group during the fourth quarter worth $35,250,000. JPMorgan Chase & Co. increased its stake in shares of 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. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Performance Food Group by 658.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company's stock valued at $38,902,000 after buying an additional 399,430 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PFGC. Piper Sandler lowered shares of Performance Food Group from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $92.00 to $90.00 in a report on Friday, February 7th. Barclays upped their target price on shares of Performance Food Group from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, Truist Financial lowered their price target on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Performance Food Group presently has a consensus rating of "Moderate Buy" and an average price target of $95.55.

Insider Transactions at Performance Food Group

In other news, insider Craig Howard Hoskins sold 19,113 shares of Performance Food Group stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the transaction, the insider now directly owns 152,293 shares of the company's stock, valued at $13,333,252.15. This trade represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.80% of the company's stock.

Performance Food Group Trading Down 1.1%

Shares of Performance Food Group stock traded down $0.92 on Thursday, hitting $83.73. 84,746 shares of the company's stock traded hands, compared to its average volume of 1,103,708. The firm's 50-day moving average price is $79.50 and its two-hundred day moving average price is $83.50. The stock has a market capitalization of $13.07 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. Performance Food Group has a one year low of $61.60 and a one 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.

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

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.