Vanguard Group Inc. Sells 707,418 Shares of Performance Food Group Company $PFGC

Key Points

• Vanguard Group cut its stake in Performance Food Group by 4.6%, selling 707,418 shares in Q4 and now owns 14,523,466 shares (9.26%) valued at about $1.306 billion.
• Performance Food Group reported a Q4 EPS miss of $0.98 versus $1.07 expected and revenue of $16.44 billion (vs. $16.54B est.), with the stock trading around $90.53 and a 12‑month range of $77.44–$109.05.
• Analysts maintain a consensus of "Moderate Buy" with an average target of $116.44, though several firms (Citigroup, UBS, Barclays) recently trimmed their price targets while keeping buy/overweight ratings.

Vanguard Group Inc. decreased its stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,523,466 shares of the food distribution company's stock after selling 707,418 shares during the period. Vanguard Group Inc. owned 9.26% of Performance Food Group worth $1,305,950,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of Performance Food Group during the 3rd quarter worth about $39,000. Eastern Bank bought a new stake in shares of Performance Food Group during the 3rd quarter worth about $47,000. Mather Group LLC. bought a new stake in shares of Performance Food Group during the 3rd quarter worth about $55,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Performance Food Group by 440.2% during the 2nd 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. Finally, Parkside Financial Bank & Trust raised its stake in Performance Food Group by 55.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 564 shares of the food distribution company's stock worth $59,000 after purchasing an additional 201 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PFGC shares. Citigroup dropped their price objective on shares of Performance Food Group from $127.00 to $126.00 and set a "buy" rating for the company in a research note on Friday, February 6th. UBS Group dropped their price objective on shares of 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. Barclays dropped their price objective on shares of Performance Food Group from $120.00 to $105.00 and set an "overweight" rating for the company in a research note on Wednesday, January 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, February 5th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $116.44.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $90.53 on Friday. The firm has a 50 day moving average of $88.62 and a 200-day moving average of $92.82. The stock has a market capitalization of $14.20 billion, a PE ratio of 41.15, a PEG ratio of 1.38 and a beta of 0.94. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. 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 issued its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.09). The firm had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. Performance Food Group's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 earnings per share. On average, equities research analysts predict that Performance Food Group Company will post 4.59 EPS for the current fiscal year.

Insider Activity at Performance Food Group

In other news, insider Chasity D. Grosh sold 1,843 shares of the business's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the transaction, the insider directly owned 6,601 shares in the company, valued at approximately $607,490.03. The trade was a 21.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.50% of the company's stock.

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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