Bridgewater Advisors Inc. Sells 13,702 Shares of Performance Food Group Company (NYSE:PFGC)

Bridgewater Advisors Inc. cut its stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 76.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,242 shares of the food distribution company's stock after selling 13,702 shares during the period. Bridgewater Advisors Inc.'s holdings in Performance Food Group were worth $341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFGC. HighPoint Advisor Group LLC grew its holdings in shares of Performance Food Group by 2.7% in the fourth quarter. HighPoint Advisor Group LLC now owns 4,630 shares of the food distribution company's stock worth $389,000 after acquiring an additional 121 shares during the period. Stifel Financial Corp increased its position in shares of Performance Food Group by 4.6% during the 4th quarter. Stifel Financial Corp now owns 2,934 shares of the food distribution company's stock valued at $248,000 after purchasing an additional 130 shares during the last quarter. CWM LLC lifted its stake in shares of Performance Food Group by 8.6% in the 1st quarter. CWM LLC now owns 2,332 shares of the food distribution company's stock worth $183,000 after purchasing an additional 185 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Performance Food Group by 4.7% in the 1st quarter. QRG Capital Management Inc. now owns 4,656 shares of the food distribution company's stock worth $366,000 after purchasing an additional 208 shares during the period. Finally, Valeo Financial Advisors LLC lifted its stake in shares of Performance Food Group by 6.9% in the 1st quarter. Valeo Financial Advisors LLC now owns 3,260 shares of the food distribution company's stock worth $256,000 after purchasing an additional 209 shares during the period. 96.87% of the stock is owned by institutional investors.

Performance Food Group Price Performance

PFGC stock traded down $0.47 during trading on Friday, reaching $98.66. The company's stock had a trading volume of 1,271,865 shares, compared to its average volume of 1,264,749. Performance Food Group Company has a 1 year low of $63.24 and a 1 year high of $100.46. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $15.40 billion, a P/E ratio of 41.11, a price-to-earnings-growth ratio of 1.40 and a beta of 1.15. The company's fifty day moving average is $88.36 and its 200-day moving average is $84.12.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). The business had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $15.41 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 EPS. On average, research analysts expect that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Erika T. Davis sold 8,200 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $89.72, for a total transaction of $735,704.00. Following the completion of the transaction, the insider owned 46,722 shares in the company, valued at $4,191,897.84. This trade represents a 14.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald S. Bulmer sold 2,404 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $90.00, for a total value of $216,360.00. Following the transaction, the insider owned 51,350 shares of the company's stock, valued at approximately $4,621,500. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,837 shares of company stock valued at $6,901,248. 2.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PFGC shares. Morgan Stanley increased their price objective on shares of Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday. Barclays raised their target price on Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 target price on Performance Food Group and gave the stock an "overweight" rating in a report on Thursday, May 29th. Citigroup assumed coverage on Performance Food Group in a report on Thursday, May 22nd. They issued a "buy" rating and a $121.00 target price on the stock. Finally, Truist Financial decreased their target price on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Performance Food Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.31.

Performance Food Group Company 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.