Voloridge Investment Management LLC Has $21.96 Million Stock Position in Performance Food Group (NYSE:PFGC)

Voloridge Investment Management LLC trimmed its position in Performance Food Group (NYSE:PFGC - Free Report) by 50.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,718 shares of the food distribution company's stock after selling 264,816 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.17% of Performance Food Group worth $21,959,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Performance Food Group by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after buying an additional 401,235 shares during the period. UMB Bank n.a. grew its position in shares of Performance Food Group by 69.1% during the 4th quarter. UMB Bank n.a. now owns 766 shares of the food distribution company's stock worth $65,000 after buying an additional 313 shares during the period. Inspire Investing LLC acquired a new position in shares of Performance Food Group during the 4th quarter worth about $814,000. Blue Trust Inc. grew its position in shares of Performance Food Group by 64.6% during the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock worth $42,000 after buying an additional 212 shares during the period. Finally, KBC Group NV grew its position in shares of Performance Food Group by 46.5% during the 4th quarter. KBC Group NV now owns 6,017 shares of the food distribution company's stock worth $509,000 after buying an additional 1,911 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Performance Food Group

In other news, insider Craig Howard Hoskins sold 19,113 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the sale, the insider now owns 152,293 shares in the company, valued at $13,333,252.15. This represents a 11.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PFGC. Piper Sandler lowered Performance Food Group from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Truist Financial cut their price objective on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Barclays lifted their price objective on Performance Food Group from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.55.

Performance Food Group Trading Down 1.1%

NYSE PFGC opened at $83.70 on Friday. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of 33.75, a PEG ratio of 0.96 and a beta of 1.13. The stock's 50 day moving average price is $79.64 and its two-hundred day moving average price is $83.52. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.07). The firm had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The company's revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current fiscal 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.

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