Cerity Partners LLC Sells 48,852 Shares of Performance Food Group Company $PFGC

Cerity Partners LLC trimmed its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 28.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,173 shares of the food distribution company’s stock after selling 48,852 shares during the period. Cerity Partners LLC owned 0.08% of Performance Food Group worth $13,023,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PFGC. Parkside Financial Bank & Trust boosted its holdings in shares of Performance Food Group by 51.3% in the second quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after buying an additional 123 shares during the period. AlphaQuest LLC increased its position in Performance Food Group by 658.0% during the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock worth $33,000 after buying an additional 329 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Performance Food Group by 148.6% in the second quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock valued at $46,000 after purchasing an additional 312 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Performance Food Group during the third quarter worth approximately $55,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Performance Food Group by 440.2% during the second quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock worth $58,000 after buying an additional 537 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Citigroup cut their target price on Performance Food Group from $134.00 to $127.00 and set a “buy” rating for the company in a research report on Wednesday. Barclays decreased their price target on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group reaffirmed a “buy” rating and set a $120.00 price objective on shares of Performance Food Group in a research report on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Finally, Sanford C. Bernstein initiated coverage on Performance Food Group in a research note on Wednesday, October 22nd. They set an “outperform” rating and a $130.00 price objective on the stock. Eight analysts have rated the stock with a Buy rating and two have issued a Hold 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 $115.22.

Performance Food Group Trading Up 2.8%

Shares of PFGC stock opened at $90.92 on Friday. The business has a 50-day moving average of $93.36 and a 200 day moving average of $97.41. Performance Food Group Company has a 1-year low of $68.39 and a 1-year high of $109.05. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.67 and a quick ratio of 0.70. The stock has a market capitalization of $14.26 billion, a PE ratio of 43.71, a P/E/G ratio of 1.10 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.02. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The business had revenue of $17.08 billion for the quarter, compared to analysts’ expectations of $16.87 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Performance Food Group Company will post 4.58 earnings per share for the current year.

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.