Spirepoint Private Client LLC Cuts Stake in Performance Food Group Company (NYSE:PFGC)

Spirepoint Private Client LLC trimmed its stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 45.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,898 shares of the food distribution company's stock after selling 5,667 shares during the period. Spirepoint Private Client LLC's holdings in Performance Food Group were worth $542,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PFGC. Millstone Evans Group LLC purchased a new position in Performance Food Group in the 4th quarter valued at about $26,000. CENTRAL TRUST Co increased its stake in Performance Food Group by 476.5% during the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock worth $39,000 after buying an additional 405 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Performance Food Group by 203.7% during the first quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock valued at $40,000 after acquiring an additional 334 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Performance Food Group by 72.6% in the fourth quarter. Blue Trust Inc. now owns 566 shares of the food distribution company's stock valued at $48,000 after acquiring an additional 238 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its position in shares of Performance Food Group by 40.8% in the fourth quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company's stock valued at $66,000 after acquiring an additional 226 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Wall Street Analysts Forecast Growth

PFGC has been the subject of several recent research reports. Barclays increased their price objective on Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the company an "overweight" rating in a research report on Thursday, May 29th. UBS Group raised their price target on shares of Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Morgan Stanley upped their price objective on shares of Performance Food Group from $92.00 to $93.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Finally, Truist Financial cut their price objective 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 investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $100.08.

Performance Food Group Trading Down 1.3%

Shares of Performance Food Group stock traded down $1.16 during mid-day trading on Wednesday, hitting $85.61. The stock had a trading volume of 21,288 shares, compared to its average volume of 1,107,526. The firm has a 50-day moving average of $84.56 and a two-hundred day moving average of $83.57. The firm has a market cap of $13.36 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 1.44 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. Performance Food Group Company has a 12-month low of $61.60 and a 12-month high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data 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 return on equity of 16.17% and a net margin of 0.61%. The business had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $15.41 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company's revenue was up 10.5% on a year-over-year basis. Sell-side analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current year.

Insiders Place Their Bets

In other Performance Food Group news, insider Craig Howard Hoskins sold 14,285 shares of the company's stock in a transaction on 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 directly owns 138,008 shares in the company, valued at $11,551,269.60. This represents a 9.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider A Brent King sold 11,104 shares of Performance Food Group stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $88.69, for a total value of $984,813.76. Following the completion of the sale, the insider now directly owns 65,952 shares of the company's stock, valued at $5,849,282.88. The trade was a 14.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,972 shares of company stock valued at $5,964,073 over the last 90 days. 2.80% of the stock is owned by company insiders.

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.