Candlestick Capital Management LP Lowers Holdings in Performance Food Group (NYSE:PFGC)

Candlestick Capital Management LP trimmed its position in Performance Food Group (NYSE:PFGC - Free Report) by 65.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 414,391 shares of the food distribution company's stock after selling 797,597 shares during the quarter. Candlestick Capital Management LP owned about 0.27% of Performance Food Group worth $35,037,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PFGC. Victory Capital Management Inc. increased its stake in shares of 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 valued at $330,625,000 after purchasing an additional 2,371,818 shares in the last quarter. Norges Bank acquired a new position in shares of Performance Food Group during the 4th quarter worth approximately $164,471,000. JPMorgan Chase & Co. grew its holdings in Performance Food Group by 11.8% in the 3rd 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. TimesSquare Capital Management LLC increased its position in 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 worth $38,902,000 after purchasing an additional 399,430 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Performance Food Group by 134.7% in the fourth 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 during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFGC has been the subject of several research analyst reports. Piper Sandler lowered shares of Performance Food Group from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $92.00 to $90.00 in a research note on Friday, February 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. StockNews.com cut Performance Food Group from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Barclays reduced their price objective on shares of Performance Food Group from $102.00 to $95.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Performance Food Group presently has an average rating of "Moderate Buy" and a consensus target price of $95.09.

Performance Food Group Stock Performance

NYSE:PFGC traded up $1.46 during mid-day trading on Friday, reaching $82.66. The stock had a trading volume of 785,656 shares, compared to its average volume of 1,109,219. The business has a 50 day simple moving average of $77.86 and a 200 day simple moving average of $83.18. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The firm has a market capitalization of $12.91 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 0.96 and a beta of 1.16. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67.

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