Performance Food Group Company $PFGC Shares Sold by Savoir Faire Capital Management L.P.

Key Points

• Savoir Faire Capital Management L.P. cut its stake in Performance Food Group by 38% in Q4, selling 33,737 shares and leaving it with 55,070 shares valued at about $4.95 million (2.3% of the firm's portfolio, its 17th largest holding).
• Performance Food Group missed the most recent quarter's estimates with EPS $0.98 vs. $1.07 expected and revenue of $16.44 billion vs. $16.54 billion, though revenue was up 5.2% year‑over‑year.
• Analysts remain largely positive—nine Buys and two Holds—giving an average rating of "Moderate Buy" and an average price target of $116.44, despite several firms trimming their targets.

Savoir Faire Capital Management L.P. decreased its holdings in Performance Food Group Company (NYSE:PFGC - Free Report) by 38.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,070 shares of the food distribution company's stock after selling 33,737 shares during the quarter. Performance Food Group comprises approximately 2.3% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 17th biggest holding. Savoir Faire Capital Management L.P.'s holdings in Performance Food Group were worth $4,952,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PFGC. Goldman Sachs Group Inc. increased its holdings in shares of Performance Food Group by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company's stock valued at $62,266,000 after purchasing an additional 184,066 shares in the last quarter. Empowered Funds LLC purchased a new stake in Performance Food Group during the first quarter worth about $359,000. EverSource Wealth Advisors LLC grew its position in Performance Food Group by 440.2% during the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company's stock worth $58,000 after buying an additional 537 shares during the period. Marshall Wace LLP acquired a new position in Performance Food Group during the second quarter worth about $230,000. Finally, Qube Research & Technologies Ltd increased its holdings in Performance Food Group by 499.5% in the second quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company's stock valued at $28,764,000 after buying an additional 273,997 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $90.53 on Friday. The company has a 50-day simple moving average of $88.62 and a 200-day simple moving average of $92.82. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68. The company has a market cap of $14.20 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94. Performance Food Group Company has a 12 month low of $77.44 and a 12 month high of $109.05.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.09). The firm had revenue of $16.44 billion for the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The firm's revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, equities analysts anticipate that Performance Food Group Company will post 4.59 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PFGC shares. Barclays reduced their price target on shares of Performance Food Group from $120.00 to $105.00 and set an "overweight" rating for the company in a research report on Wednesday, January 7th. UBS Group dropped their price objective on Performance Food Group from $120.00 to $108.00 and set a "buy" rating for the company in a research note on Thursday, February 5th. Morgan Stanley reduced their price objective on Performance Food Group from $123.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, February 5th. Citigroup decreased their target price on Performance Food Group from $127.00 to $126.00 and set a "buy" rating on the stock in a research report on Friday, February 6th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Performance Food Group in a research report on Friday, March 27th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $116.44.

Insider Activity

In other news, insider Chasity D. Grosh sold 1,843 shares of the firm's stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the sale, the insider owned 6,601 shares in the company, valued at $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by company insiders.

About Performance Food Group

Performance Food Group Company NYSE: PFGC is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.

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