Hsbc Holdings PLC Sells 4,768 Shares of Performance Food Group (NYSE:PFGC)

Hsbc Holdings PLC lessened its stake in Performance Food Group (NYSE:PFGC - Free Report) by 64.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,610 shares of the food distribution company's stock after selling 4,768 shares during the quarter. Hsbc Holdings PLC's holdings in Performance Food Group were worth $220,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PFGC. Franklin Resources Inc. boosted its holdings in shares of Performance Food Group by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 224,467 shares of the food distribution company's stock worth $18,305,000 after buying an additional 2,417 shares during the period. JPMorgan Chase & Co. increased its stake in Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock valued at $298,794,000 after purchasing an additional 401,235 shares in the last quarter. First Hawaiian Bank increased its holdings in Performance Food Group by 4.6% during the 4th quarter. First Hawaiian Bank now owns 9,819 shares of the food distribution company's stock worth $830,000 after purchasing an additional 429 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Performance Food Group by 134.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company's stock worth $54,665,000 after buying an additional 371,078 shares during the last quarter. Finally, Park Avenue Securities LLC increased its stake in shares of Performance Food Group by 20.1% during the 4th quarter. Park Avenue Securities LLC now owns 10,537 shares of the food distribution company's stock worth $891,000 after purchasing an additional 1,763 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PFGC shares. StockNews.com downgraded shares of Performance Food Group from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Morgan Stanley raised their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $92.00 to $90.00 in a research report on Friday, February 7th. Truist Financial lowered their target price 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 target on shares of 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. Based on data from MarketBeat.com, Performance Food Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.55.

Performance Food Group Price Performance

NYSE PFGC traded down $0.07 during mid-day trading on Tuesday, hitting $87.45. The stock had a trading volume of 1,085,846 shares, compared to its average volume of 1,115,716. The company has a 50 day simple moving average of $78.02 and a 200 day simple moving average of $83.25. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 35.26, a P/E/G ratio of 0.96 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. 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 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 firm had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.80 earnings per share. Equities analysts forecast that Performance Food Group will post 4.58 EPS 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.