D. E. Shaw & Co. Inc. Trims Holdings in Performance Food Group (NYSE:PFGC)

D. E. Shaw & Co. Inc. reduced its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 27.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 357,724 shares of the food distribution company's stock after selling 135,812 shares during the period. D. E. Shaw & Co. Inc. owned about 0.23% of Performance Food Group worth $30,246,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Millstone Evans Group LLC purchased a new stake in Performance Food Group in the fourth quarter worth $26,000. Blue Trust Inc. lifted its position in Performance Food Group by 64.6% during the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock valued at $42,000 after buying an additional 212 shares during the period. V Square Quantitative Management LLC lifted its position in Performance Food Group by 51.4% during the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock valued at $60,000 after buying an additional 239 shares during the period. UMB Bank n.a. lifted its position in Performance Food Group by 69.1% during the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company's stock valued at $65,000 after buying an additional 313 shares during the period. Finally, J.Safra Asset Management Corp lifted its position in Performance Food Group by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company's stock valued at $66,000 after buying an additional 226 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PFGC. Barclays raised their price objective on Performance Food Group from $95.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Piper Sandler lowered Performance Food Group from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $92.00 to $90.00 in a research 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 research report on Thursday, May 8th. StockNews.com lowered Performance Food Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley lifted their price target on Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Performance Food Group presently has a consensus rating of "Moderate Buy" and an average price target of $95.55.

Performance Food Group Stock Up 0.0%

Shares of PFGC traded up $0.04 during midday trading on Wednesday, reaching $87.48. 1,350,441 shares of the stock were exchanged, compared to its average volume of 1,117,170. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The company's 50 day moving average is $78.19 and its two-hundred day moving average is $83.28. The company has a market capitalization of $13.65 billion, a P/E ratio of 35.27, a PEG ratio of 0.96 and a beta of 1.13.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly 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). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The business had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $15.41 billion. During the same quarter last year, the business posted $0.80 earnings per share. The company's quarterly revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current 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.