Performance Food Group Company $PFGC Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC significantly reduced its holdings in Performance Food Group Company by 91.1% during the 1st quarter, selling over 2.6 million shares and leaving it with 256,158 shares worth approximately $20.14 million.
• Several other institutional investors have adjusted their positions, with SG Americas Securities LLC increasing its holdings by 746.2% during the same period.
• Analysts are optimistic about PFGC, with multiple firms raising their price targets, resulting in an average target price of $109.67 and a consensus rating of "Moderate Buy."

Millennium Management LLC reduced its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 91.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,158 shares of the food distribution company's stock after selling 2,623,908 shares during the period. Millennium Management LLC owned approximately 0.16% of Performance Food Group worth $20,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. CENTRAL TRUST Co lifted its stake in shares of Performance Food Group by 476.5% in the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock valued at $39,000 after purchasing an additional 405 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Performance Food Group by 203.7% in the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock valued at $40,000 after purchasing an additional 334 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Performance Food Group during the 1st quarter worth approximately $44,000. SVB Wealth LLC acquired a new position in Performance Food Group during the 1st quarter worth approximately $59,000. Finally, Signaturefd LLC lifted its position in Performance Food Group by 60.9% during the 1st quarter. Signaturefd LLC now owns 830 shares of the food distribution company's stock worth $65,000 after acquiring an additional 314 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Performance Food Group

In other news, insider A Brent King sold 6,334 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $105.10, for a total value of $665,703.40. Following the completion of the sale, the insider directly owned 62,852 shares in the company, valued at approximately $6,605,745.20. The trade was a 9.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Erika T. Davis sold 4,100 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $105.06, for a total value of $430,746.00. Following the completion of the sale, the insider owned 46,541 shares of the company's stock, valued at $4,889,597.46. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,968 shares of company stock valued at $5,944,596 over the last 90 days. Insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays boosted their price target on Performance Food Group from $112.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Truist Financial boosted their price target on Performance Food Group from $101.00 to $118.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Citigroup assumed coverage on Performance Food Group in a research report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target on the stock. Wall Street Zen lowered Performance Food Group from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. Finally, Piper Sandler raised Performance Food Group from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $90.00 to $114.00 in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $109.67.

Performance Food Group Stock Down 0.6%

PFGC stock traded down $0.66 during midday trading on Thursday, hitting $108.06. 1,230,410 shares of the company's stock were exchanged, compared to its average volume of 1,553,384. Performance Food Group Company has a 12-month low of $68.39 and a 12-month high of $109.05. The company has a current ratio of 1.58, a quick ratio of 0.72 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $16.91 billion, a price-to-earnings ratio of 49.80, a price-to-earnings-growth ratio of 1.23 and a beta of 1.10. The firm has a 50 day moving average price of $101.01 and a 200-day moving average price of $88.77.

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