Performance Food Group (NYSE:PFGC) Shares Sold by abrdn plc

abrdn plc reduced its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 43.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,884 shares of the food distribution company's stock after selling 13,505 shares during the quarter. abrdn plc's holdings in Performance Food Group were worth $1,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of Performance Food Group during the 4th quarter valued at about $29,000. Fifth Third Bancorp lifted its position in shares of Performance Food Group by 50.4% in the 3rd quarter. Fifth Third Bancorp now owns 821 shares of the food distribution company's stock worth $48,000 after purchasing an additional 275 shares during the period. Covestor Ltd boosted its position in Performance Food Group by 16.1% during the 3rd quarter. Covestor Ltd now owns 1,965 shares of the food distribution company's stock valued at $116,000 after acquiring an additional 272 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Performance Food Group in the third quarter valued at about $127,000. Finally, Arlington Trust Co LLC purchased a new position in shares of Performance Food Group in the 4th quarter worth approximately $137,000. Institutional investors own 96.87% of the company's stock.

Performance Food Group Stock Down 0.8 %

Shares of Performance Food Group stock traded down $0.58 during trading hours on Tuesday, reaching $67.88. The company's stock had a trading volume of 2,948,479 shares, compared to its average volume of 933,451. Performance Food Group has a one year low of $52.92 and a one year high of $78.54. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.75 and a current ratio of 1.71. The stock's fifty day simple moving average is $73.38 and its two-hundred day simple moving average is $68.78. The company has a market capitalization of $10.56 billion, a P/E ratio of 24.77, a P/E/G ratio of 0.97 and a beta of 1.38.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The company had revenue of $14.30 billion for the quarter, compared to analysts' expectations of $14.20 billion. During the same quarter in the previous year, the business earned $0.83 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts forecast that Performance Food Group will post 4.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Stephens boosted their price objective on Performance Food Group from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Morgan Stanley lifted their target price on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, April 12th. StockNews.com upgraded shares of Performance Food Group from a "hold" rating to a "buy" rating in a research report on Thursday, February 8th. Barclays raised their target price on Performance Food Group from $78.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Finally, BMO Capital Markets raised their target price on Performance Food Group from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Performance Food Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.25.

About Performance Food Group

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.