Brant Point Investment Management LLC Has $10.93 Million Position in Performance Food Group (NYSE:PFGC)

Brant Point Investment Management LLC cut its stake in Performance Food Group (NYSE:PFGC - Free Report) by 7.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,308 shares of the food distribution company's stock after selling 10,000 shares during the period. Performance Food Group accounts for approximately 1.4% of Brant Point Investment Management LLC's portfolio, making the stock its 4th largest position. Brant Point Investment Management LLC owned 0.08% of Performance Food Group worth $10,933,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFGC. Victory Capital Management Inc. boosted its stake in Performance Food Group by 154.2% in 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 purchasing an additional 2,371,818 shares in the last quarter. Norges Bank bought a new position in shares of Performance Food Group in the fourth quarter worth approximately $164,471,000. JPMorgan Chase & Co. grew its holdings in shares of Performance Food Group by 11.8% during 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 during the last quarter. TimesSquare Capital Management LLC increased its position in shares of Performance Food Group by 658.3% during 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 acquiring an additional 399,430 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Performance Food Group by 134.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company's stock worth $54,665,000 after acquiring an additional 371,078 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PFGC shares. StockNews.com cut Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Morgan Stanley boosted their target price on shares of Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Piper Sandler cut shares of Performance Food Group from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Barclays decreased their target price on Performance Food Group from $102.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Performance Food Group presently has an average rating of "Moderate Buy" and an average target price of $95.09.

Performance Food Group Price Performance

PFGC stock traded up $2.22 during midday trading on Wednesday, hitting $80.08. The company's stock had a trading volume of 455,215 shares, compared to its average volume of 1,111,959. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The company has a 50 day moving average of $78.56 and a two-hundred day moving average of $83.18. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. On average, analysts expect that Performance Food Group will post 4.58 EPS for the current year.

About Performance Food Group

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.