Hudson Bay Capital Management LP Trims Position in Performance Food Group (NYSE:PFGC)

Hudson Bay Capital Management LP trimmed its position in Performance Food Group (NYSE:PFGC - Free Report) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134,615 shares of the food distribution company's stock after selling 3,797 shares during the quarter. Hudson Bay Capital Management LP owned about 0.09% of Performance Food Group worth $11,382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Performance Food Group by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after acquiring an additional 401,235 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 acquiring an additional 371,078 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Performance Food Group by 8.1% in the 4th quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company's stock worth $141,003,000 after acquiring an additional 125,532 shares during the last quarter. Inspire Investing LLC acquired a new position in shares of Performance Food Group in the 4th quarter worth approximately $814,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Performance Food Group in the 4th quarter worth approximately $2,087,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Stock Down 0.1%

Shares of NYSE:PFGC traded down $0.12 during trading on Friday, hitting $88.01. The company's stock had a trading volume of 1,406,246 shares, compared to its average volume of 1,109,293. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. The business has a 50 day moving average price of $78.89 and a two-hundred day moving average price of $83.40. The company has a market capitalization of $13.74 billion, a PE ratio of 35.49, a P/E/G 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.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its earnings results 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 business's revenue for the quarter 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, research analysts expect that Performance Food Group will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Performance Food Group news, insider Craig Howard Hoskins sold 19,113 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total value of $1,673,343.15. Following the completion of the transaction, the insider now owns 152,293 shares in the company, valued at $13,333,252.15. This represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PFGC. Morgan Stanley upped their price objective 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. Barclays upped their price objective on shares of Performance Food Group from $95.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Truist Financial reduced their target price on shares of 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, Piper Sandler cut shares of Performance Food Group from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $92.00 to $90.00 in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and an average 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.