JPMorgan Chase & Co. Reduces Position in Performance Food Group Company $PFGC

JPMorgan Chase & Co. decreased its holdings in Performance Food Group Company (NYSE:PFGC) by 10.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,829,076 shares of the food distribution company’s stock after selling 423,933 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.44% of Performance Food Group worth $398,380,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PFGC. Goldman Sachs Group Inc. boosted its stake in shares of Performance Food Group by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after buying an additional 184,066 shares during the last quarter. Empowered Funds LLC bought a new position in Performance Food Group during the 1st quarter valued at $359,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Performance Food Group during the 2nd quarter valued at $666,000. Ethic Inc. acquired a new position in Performance Food Group during the 2nd quarter worth $1,371,000. Finally, Forum Financial Management LP increased its position in shares of Performance Food Group by 8.3% in the 2nd quarter. Forum Financial Management LP now owns 3,555 shares of the food distribution company’s stock worth $311,000 after purchasing an additional 273 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the transaction, the insider owned 6,601 shares in the company, valued at approximately $607,490.03. This represents a 21.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is owned by insiders.

Performance Food Group Trading Down 0.1%

NYSE:PFGC opened at $98.45 on Thursday. The firm has a market capitalization of $15.44 billion, a P/E ratio of 44.75, a P/E/G ratio of 1.39 and a beta of 0.93. The business has a 50 day simple moving average of $93.26 and a 200 day simple moving average of $97.53. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.60 and a quick ratio of 0.68. Performance Food Group Company has a 12-month low of $68.39 and a 12-month high of $109.05.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). The company had revenue of $16.44 billion during the quarter, compared to the consensus estimate of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. Equities research analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, February 5th. Zacks Research lowered Performance Food Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. Barclays reduced their price objective on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Finally, Citigroup lowered their target price on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $116.44.

Performance Food Group Company Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.