Performance Food Group (NYSE:PFGC) Shares Sold by Voloridge Investment Management LLC

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

Other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. increased its stake in shares of Performance Food Group by 30.9% during the fourth quarter. Point72 Asset Management L.P. now owns 2,111,242 shares of the food distribution company's stock worth $178,506,000 after buying an additional 498,554 shares during the period. ProShare Advisors LLC boosted its holdings in Performance Food Group by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 7,289 shares of the food distribution company's stock valued at $616,000 after purchasing an additional 496 shares in the last quarter. Quantinno Capital Management LP boosted its holdings in Performance Food Group by 13.2% in the fourth quarter. Quantinno Capital Management LP now owns 16,605 shares of the food distribution company's stock valued at $1,404,000 after purchasing an additional 1,937 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Performance Food Group in the fourth quarter valued at approximately $1,795,000. Finally, Nuveen Asset Management LLC boosted its holdings in Performance Food Group by 61.7% in the fourth quarter. Nuveen Asset Management LLC now owns 888,534 shares of the food distribution company's stock valued at $75,126,000 after purchasing an additional 339,024 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

Shares of PFGC traded up $2.99 during trading hours on Wednesday, reaching $89.14. 601,993 shares of the company traded hands, compared to its average volume of 1,108,508. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $13.91 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The stock has a fifty day simple moving average of $80.15 and a 200 day simple moving average of $83.51.

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

Insiders Place Their Bets

In other Performance Food Group news, insider Craig Howard Hoskins sold 14,285 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $83.70, for a total value of $1,195,654.50. Following the sale, the insider now directly owns 138,008 shares of the company's stock, valued at approximately $11,551,269.60. This trade represents a 9.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PFGC has been the subject of a number of research analyst reports. Piper Sandler downgraded Performance Food Group from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $92.00 to $90.00 in a report on Friday, February 7th. Truist Financial lowered their price target on Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Barclays upped their price target on Performance Food Group from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Finally, Citigroup initiated coverage on Performance Food Group in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Performance Food Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.55.

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.