Point72 Asset Management L.P. Has $178.51 Million Stock Holdings in Performance Food Group (NYSE:PFGC)

Point72 Asset Management L.P. lifted its stake in Performance Food Group (NYSE:PFGC - Free Report) by 30.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,111,242 shares of the food distribution company's stock after acquiring an additional 498,554 shares during the quarter. Point72 Asset Management L.P. owned approximately 1.35% of Performance Food Group worth $178,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Performance Food Group by 154.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock worth $330,625,000 after purchasing an additional 2,371,818 shares in the last quarter. Norges Bank bought a new stake in Performance Food Group in the fourth quarter worth $164,471,000. Junto Capital Management LP boosted its holdings in Performance Food Group by 419.9% in the fourth quarter. Junto Capital Management LP now owns 1,406,080 shares of the food distribution company's stock worth $118,884,000 after purchasing an additional 1,135,641 shares in the last quarter. Freestone Grove Partners LP bought a new stake in Performance Food Group in the fourth quarter worth $35,250,000. Finally, JPMorgan Chase & Co. boosted its holdings 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 worth $298,794,000 after purchasing an additional 401,235 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Performance Food Group Stock Performance

Shares of NYSE PFGC traded down $0.12 during mid-day trading on Friday, hitting $88.01. The company 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 current ratio of 1.67 and a quick ratio of 0.72. The business's 50-day simple moving average is $78.89 and its 200-day simple moving average is $83.40. Performance Food Group has a 12 month low of $61.60 and a 12 month high of $92.44. The firm has a market cap of $13.74 billion, a P/E ratio of 35.49, a PEG ratio of 0.96 and a beta of 1.13.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $15.41 billion. During the same quarter in the previous year, the business posted $0.80 EPS. The firm's quarterly revenue was up 10.5% on a year-over-year basis. As a group, analysts predict that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PFGC has been the subject of a number of recent research reports. 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 decreased their price objective on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a report on Thursday, May 8th. 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 report on Friday, February 7th. Finally, Morgan Stanley upped their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $95.55.

Insider Transactions at Performance Food Group

In related news, insider Craig Howard Hoskins sold 19,113 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 152,293 shares of the company's stock, valued at $13,333,252.15. This trade represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company's stock.

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.