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

Citigroup Inc. trimmed its stake in Performance Food Group Company (NYSE:PFGC) by 27.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,282 shares of the food distribution company’s stock after selling 65,321 shares during the period. Citigroup Inc. owned about 0.11% of Performance Food Group worth $17,716,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFGC. Goldman Sachs Group Inc. grew its holdings in shares of Performance Food Group by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock worth $62,266,000 after purchasing an additional 184,066 shares during the last quarter. Empowered Funds LLC acquired a new position in Performance Food Group in the first quarter valued at about $359,000. AlphaQuest LLC grew its stake 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. Y Intercept Hong Kong Ltd increased its holdings in shares of Performance Food Group by 198.6% during the second quarter. Y Intercept Hong Kong Ltd now owns 9,203 shares of the food distribution company’s stock worth $805,000 after buying an additional 6,121 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of Performance Food Group by 44.0% in the second quarter. Assetmark Inc. now owns 97,444 shares of the food distribution company’s stock valued at $8,523,000 after acquiring an additional 29,776 shares during the last quarter. 96.87% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Chasity D. Grosh sold 1,843 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the transaction, the insider directly owned 6,601 shares in the company, valued at $607,490.03. This represents a 21.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.50% of the stock is owned by corporate insiders.

Performance Food Group Trading Up 1.1%

Shares of PFGC opened at $97.04 on Friday. The stock’s fifty day simple moving average is $93.70 and its 200-day simple moving average is $97.47. The firm has a market capitalization of $15.22 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.93. Performance Food Group Company has a 12-month low of $68.39 and a 12-month high of $109.05. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PFGC shares. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Citigroup reduced their price objective on Performance Food Group from $127.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Zacks Research lowered Performance Food Group from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Morgan Stanley reduced their price target on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Finally, Barclays decreased their price objective 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 research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.