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

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

A number of other institutional investors have also recently added to or reduced their stakes in PFGC. Capital World Investors increased its holdings in Performance Food Group by 0.7% in the fourth quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company's stock valued at $1,849,809,000 after buying an additional 157,987 shares during the last quarter. FMR LLC boosted its holdings in Performance Food Group by 0.6% in the fourth quarter. FMR LLC now owns 13,391,257 shares of the food distribution company's stock worth $1,132,231,000 after purchasing an additional 78,855 shares during the period. Victory Capital Management Inc. increased its stake in Performance Food Group by 154.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock valued at $330,625,000 after purchasing an additional 2,371,818 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Performance Food Group by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company's stock worth $330,560,000 after purchasing an additional 147,080 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Performance Food Group by 11.8% during 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 during the period. Institutional investors and hedge funds own 96.87% of the company's stock.

Performance Food Group Price Performance

Shares of PFGC traded up $0.26 during midday trading on Tuesday, reaching $87.86. The stock had a trading volume of 353,588 shares, compared to its average volume of 1,229,881. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. 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 company has a market capitalization of $13.71 billion, a P/E ratio of 35.42, a P/E/G ratio of 0.96 and a beta of 1.13. The firm's 50 day moving average price is $79.09 and its 200-day moving average price is $83.47.

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 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.07). The company had revenue of $15.31 billion for the quarter, compared to the consensus estimate 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 was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 earnings per share. On average, analysts forecast that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Craig Howard Hoskins sold 19,113 shares of the business'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 transaction of $1,673,343.15. Following the transaction, the insider now directly owns 152,293 shares of the company's stock, valued at approximately $13,333,252.15. The trade was a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.80% of the company's stock.

Wall Street Analyst Weigh In

PFGC has been the topic of several research reports. Barclays increased their price objective on shares of Performance Food Group from $95.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Morgan Stanley boosted their price objective on Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and cut their target price for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Truist Financial lowered their price target on shares of 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. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Performance Food Group currently has an average rating of "Moderate Buy" and an average price target 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.