Citigroup Inc. Sells 65,321 Shares of Performance Food Group Company $PFGC

Citigroup Inc. decreased its stake in Performance Food Group Company (NYSE:PFGC) by 27.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 170,282 shares of the food distribution company’s stock after selling 65,321 shares during the period. Citigroup Inc.’s holdings in Performance Food Group were worth $17,716,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Holocene Advisors LP increased its stake in shares of Performance Food Group by 8.6% in the 2nd quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock valued at $269,318,000 after acquiring an additional 244,793 shares during the last quarter. Primecap Management Co. CA increased its stake in Performance Food Group by 22.1% in the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock valued at $224,930,000 after purchasing an additional 465,807 shares in the last quarter. Eminence Capital LP increased its stake in Performance Food Group by 6.7% in the second quarter. Eminence Capital LP now owns 2,250,830 shares of the food distribution company’s stock valued at $196,880,000 after purchasing an additional 141,864 shares in the last quarter. Norges Bank acquired a new stake in Performance Food Group in the second quarter worth $163,954,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Performance Food Group during the third quarter worth $152,717,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on PFGC shares. Morgan Stanley lowered their price objective on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Citigroup lowered their price target on Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a report on Friday, February 6th. Guggenheim reaffirmed a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Finally, Barclays dropped their target price on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.44.

Insider Buying and Selling at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total transaction of $169,611.29. Following the transaction, the insider directly owned 6,601 shares in the company, valued at approximately $607,490.03. The trade was a 21.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.

Performance Food Group Price Performance

NYSE:PFGC opened at $97.04 on Friday. The stock’s 50-day simple moving average is $93.70 and its 200 day simple moving average is $97.47. Performance Food Group Company has a 52-week low of $68.39 and a 52-week high of $109.05. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60. The company has a market cap of $15.22 billion, a P/E ratio of 44.11, a P/E/G ratio of 1.35 and a beta of 0.93.

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

About Performance Food Group

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.