Spirepoint Private Client LLC Sells 5,667 Shares of Performance Food Group Company (NYSE:PFGC)

Spirepoint Private Client LLC cut its holdings in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 45.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

Other large investors have also bought and sold shares of the company. Capital World Investors lifted its holdings in Performance Food Group by 0.7% during the 4th quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company's stock worth $1,849,809,000 after buying an additional 157,987 shares in the last quarter. FMR LLC lifted its stake in shares of Performance Food Group by 0.6% in the 4th quarter. FMR LLC now owns 13,391,257 shares of the food distribution company's stock valued at $1,132,231,000 after purchasing an additional 78,855 shares during the period. Victory Capital Management Inc. lifted 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 during the period. Wellington Management Group LLP lifted its stake in shares of Performance Food Group by 3.9% in the 4th quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company's stock valued at $330,560,000 after purchasing an additional 147,080 shares during the period. Finally, Eminence Capital LP lifted its stake in shares of Performance Food Group by 3.2% in the 4th quarter. Eminence Capital LP now owns 2,579,368 shares of the food distribution company's stock valued at $218,086,000 after purchasing an additional 79,591 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PFGC. UBS Group increased their price target on Performance Food Group from $103.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Citigroup began coverage on Performance Food Group in a research note on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price target on the stock. Barclays increased their price target 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. 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. Finally, Morgan Stanley increased their price target on 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. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and an average target price of $100.08.

Performance Food Group Trading Up 1.5%

PFGC stock traded up $1.27 during midday trading on Friday, hitting $87.50. 1,652,953 shares of the company's stock were exchanged, compared to its average volume of 1,111,809. The stock's fifty day moving average price is $85.21 and its 200-day moving average price is $83.56. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 1.61. The company has a market cap of $13.66 billion, a PE ratio of 36.46, a price-to-earnings-growth ratio of 1.42 and a beta of 1.18. Performance Food Group Company has a one year low of $61.60 and a one year high of $92.44.

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 return on equity of 16.17% and a net margin of 0.61%. The business had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $15.41 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business's revenue was up 10.5% on a year-over-year basis. Research analysts predict that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In related news, insider A Brent King sold 12,866 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $90.02, for a total value of $1,158,197.32. Following the completion of the sale, the insider now directly owns 60,952 shares in the company, valued at approximately $5,486,899.04. The trade was a 17.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Erika T. Davis sold 8,200 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $89.72, for a total value of $735,704.00. Following the completion of the sale, the insider now owns 46,722 shares of the company's stock, valued at approximately $4,191,897.84. This trade represents a 14.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,972 shares of company stock valued at $5,964,073 in the last 90 days. 2.80% of the stock is currently owned by company insiders.

Performance Food Group 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.