Alliancebernstein L.P. Has $18.23 Million Holdings in Performance Food Group Company $PFGC

Key Points

• Alliancebernstein L.P. increased its stake in Performance Food Group Company by 4.2%, owning 231,846 shares valued at approximately $18.23 million.
• Insiders of Performance Food Group have recently sold significant shares, with one insider selling 6,334 shares for over $665,000, representing a 9.16% decrease in their ownership.
• Performance Food Group reported a 12-month revenue increase of 11.2% year-over-year, posting earnings of $1.55 per share, beating estimates, and showing a solid performance outlook.

Alliancebernstein L.P. increased its position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 231,846 shares of the food distribution company's stock after purchasing an additional 9,343 shares during the period. Alliancebernstein L.P. owned approximately 0.15% of Performance Food Group worth $18,230,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Bain Capital Public Equity Management II LLC increased its holdings in Performance Food Group by 14.1% in the first quarter. Bain Capital Public Equity Management II LLC now owns 2,377,994 shares of the food distribution company's stock valued at $186,982,000 after buying an additional 293,837 shares in the last quarter. Bain Capital Public Equity LP boosted its holdings in shares of Performance Food Group by 23.4% in the 1st quarter. Bain Capital Public Equity LP now owns 120,806 shares of the food distribution company's stock valued at $9,499,000 after purchasing an additional 22,907 shares during the last quarter. Armistice Capital LLC lifted its holdings in shares of Performance Food Group by 1.7% during the 1st quarter. Armistice Capital LLC now owns 325,691 shares of the food distribution company's stock valued at $25,609,000 after acquiring an additional 5,547 shares in the last quarter. Junto Capital Management LP lifted its holdings in shares of Performance Food Group by 1.1% during the 1st quarter. Junto Capital Management LP now owns 1,420,930 shares of the food distribution company's stock valued at $111,728,000 after acquiring an additional 14,850 shares in the last quarter. Finally, Vident Advisory LLC purchased a new stake in Performance Food Group during the 1st quarter worth $462,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Performance Food Group

In related news, insider A Brent King sold 9,136 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $100.51, for a total transaction of $918,259.36. Following the completion of the sale, the insider directly owned 66,540 shares in the company, valued at approximately $6,687,935.40. This trade represents a 12.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hugh Patrick Hatcher sold 5,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $105.07, for a total value of $525,350.00. Following the completion of the transaction, the insider owned 47,655 shares in the company, valued at $5,007,110.85. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,968 shares of company stock valued at $5,944,596. 2.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PFGC. Piper Sandler upgraded shares of Performance Food Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $90.00 to $114.00 in a report on Tuesday, September 2nd. Morgan Stanley boosted their price objective on shares of Performance Food Group from $93.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Sanford C. Bernstein set a $112.00 price objective on shares of Performance Food Group and gave the company an "overweight" rating in a research report on Thursday, May 29th. Guggenheim reissued a "buy" rating and set a $115.00 target price on shares of Performance Food Group in a research note on Tuesday, August 26th. Finally, Wall Street Zen lowered shares of Performance Food Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $109.67.

Performance Food Group Trading Up 0.7%

Shares of NYSE:PFGC traded up $0.74 during mid-day trading on Tuesday, hitting $104.79. The stock had a trading volume of 2,628,163 shares, compared to its average volume of 1,402,698. Performance Food Group Company has a 12-month low of $68.39 and a 12-month high of $107.09. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.72 and a current ratio of 1.58. The company has a market cap of $16.40 billion, a PE ratio of 48.29, a P/E/G ratio of 1.17 and a beta of 1.10. The company's 50 day moving average is $100.28 and its 200-day moving average is $88.46.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.10. The firm had revenue of $16.94 billion during the quarter, compared to the consensus estimate of $16.85 billion. Performance Food Group had a return on equity of 16.23% and a net margin of 0.54%.The business's revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.45 EPS. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, sell-side analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

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.