Performance Food Group (NYSE:PFGC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in Performance Food Group (NYSE:PFGC) by 61.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,721 shares of the food distribution company’s stock after selling 7,528 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Performance Food Group were worth $326,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its stake in Performance Food Group by 179.2% during the 4th quarter. State of Alaska Department of Revenue now owns 51,803 shares of the food distribution company’s stock valued at $3,581,000 after purchasing an additional 33,250 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Performance Food Group by 707.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,810 shares of the food distribution company’s stock valued at $886,000 after purchasing an additional 11,223 shares in the last quarter. Vanguard Group Inc. boosted its stake in Performance Food Group by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock valued at $937,613,000 after purchasing an additional 107,449 shares in the last quarter. CX Institutional boosted its stake in Performance Food Group by 31.4% during the 4th quarter. CX Institutional now owns 75,294 shares of the food distribution company’s stock valued at $5,207,000 after purchasing an additional 18,005 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its stake in Performance Food Group by 4.2% during the 3rd quarter. Natixis Advisors L.P. now owns 693,538 shares of the food distribution company’s stock valued at $40,822,000 after purchasing an additional 27,870 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $68.84 on Friday. The stock has a market cap of $10.71 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 0.98 and a beta of 1.38. The business has a fifty day simple moving average of $73.64 and a 200-day simple moving average of $68.40. The company has a quick ratio of 0.75, a current ratio of 1.71 and a debt-to-equity ratio of 1.05. Performance Food Group has a 12 month low of $52.92 and a 12 month high of $78.54.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The business had revenue of $14.30 billion during the quarter, compared to analyst estimates of $14.20 billion. During the same period last year, the business earned $0.83 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that Performance Food Group will post 4.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PFGC. BMO Capital Markets raised their price objective on Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 8th. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Morgan Stanley raised their price objective on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Stephens raised their price objective on Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. Finally, Barclays raised their price objective on Performance Food Group from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Performance Food Group 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.