Deutsche Bank AG Reduces Stock Holdings in Performance Food Group (NYSE:PFGC)

Deutsche Bank AG lessened its stake in shares of Performance Food Group (NYSE:PFGC - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,439 shares of the food distribution company's stock after selling 5,580 shares during the quarter. Deutsche Bank AG's holdings in Performance Food Group were worth $2,151,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Eminence Capital LP raised its stake in Performance Food Group by 3.2% in the fourth quarter. Eminence Capital LP now owns 2,579,368 shares of the food distribution company's stock worth $218,086,000 after buying an additional 79,591 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Performance Food Group by 1.1% in the 4th quarter. Cetera Investment Advisers now owns 32,461 shares of the food distribution company's stock valued at $2,745,000 after purchasing an additional 369 shares during the period. Captrust Financial Advisors boosted its position in shares of Performance Food Group by 3.1% during the fourth quarter. Captrust Financial Advisors now owns 22,026 shares of the food distribution company's stock valued at $1,862,000 after purchasing an additional 663 shares in the last quarter. Bain Capital Public Equity Management II LLC grew its stake in Performance Food Group by 13.9% in the fourth quarter. Bain Capital Public Equity Management II LLC now owns 2,084,157 shares of the food distribution company's stock worth $176,215,000 after purchasing an additional 253,600 shares during the period. Finally, Bain Capital Public Equity LP raised its holdings in Performance Food Group by 18.5% in the fourth quarter. Bain Capital Public Equity LP now owns 97,899 shares of the food distribution company's stock worth $8,277,000 after purchasing an additional 15,256 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

Wall Street Analysts Forecast Growth

PFGC has been the topic of a number of recent research reports. Piper Sandler downgraded shares of Performance Food Group from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Barclays raised their target price on shares of Performance Food Group from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Citigroup started coverage on Performance Food Group in a research report on Thursday, May 22nd. They issued a "buy" rating on the stock. Finally, Truist Financial cut their price target on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $95.55.

Performance Food Group Trading Up 2.7%

PFGC traded up $2.32 during trading hours on Wednesday, reaching $88.47. The company's stock had a trading volume of 312,444 shares, compared to its average volume of 1,221,090. The stock has a market cap of $13.81 billion, a PE ratio of 35.67, a P/E/G ratio of 0.96 and a beta of 1.13. 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 has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The business's 50-day moving average is $80.15 and its 200-day moving average is $83.51.

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

Insider Buying and Selling

In related news, insider Craig Howard Hoskins sold 14,285 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $83.70, for a total transaction of $1,195,654.50. Following the transaction, the insider now owns 138,008 shares of the company's stock, valued at $11,551,269.60. This trade represents a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.80% of the company's stock.

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.