Price T Rowe Associates Inc. MD Sells 73,958 Shares of Performance Food Group (NYSE:PFGC)

Price T Rowe Associates Inc. MD lessened its position in Performance Food Group (NYSE:PFGC - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 721,853 shares of the food distribution company's stock after selling 73,958 shares during the period. Price T Rowe Associates Inc. MD owned 0.46% of Performance Food Group worth $61,034,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Performance Food Group by 154.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock valued at $330,625,000 after buying an additional 2,371,818 shares during the last quarter. Norges Bank acquired a new position in shares of Performance Food Group during the fourth quarter worth $164,471,000. JPMorgan Chase & Co. grew its stake in shares of 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 during the last quarter. TimesSquare Capital Management LLC increased its holdings in Performance Food Group by 658.3% in the fourth quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company's stock valued at $38,902,000 after purchasing an additional 399,430 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Performance Food Group by 134.7% during 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 purchasing an additional 371,078 shares during the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PFGC. Piper Sandler cut 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 note on Friday, February 7th. Morgan Stanley raised their price target 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. StockNews.com lowered shares of Performance Food Group from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Barclays dropped their target price on shares of Performance Food Group from $102.00 to $95.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Performance Food Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.09.

Performance Food Group Stock Up 1.8 %

Performance Food Group stock traded up $1.46 during mid-day trading on Friday, reaching $82.66. The stock had a trading volume of 785,656 shares, compared to its average volume of 1,107,207. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The stock's 50-day simple moving average is $77.87 and its 200-day simple moving average is $83.18. The firm has a market capitalization of $12.91 billion, a PE ratio of 33.33, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. On average, sell-side analysts forecast that Performance Food Group will post 4.58 EPS for the current fiscal year.

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.