Algert Global LLC Sells 14,090 Shares of Performance Food Group Company $PFGC

Algert Global LLC trimmed its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 15.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 74,677 shares of the food distribution company’s stock after selling 14,090 shares during the period. Algert Global LLC’s holdings in Performance Food Group were worth $7,769,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. raised its stake in Performance Food Group by 1.0% during the third quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company’s stock valued at $1,134,000 after buying an additional 113 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Performance Food Group by 0.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 36,752 shares of the food distribution company’s stock valued at $3,215,000 after purchasing an additional 125 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Performance Food Group by 1.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,124 shares of the food distribution company’s stock worth $711,000 after buying an additional 131 shares during the last quarter. US Bancorp DE raised its holdings in Performance Food Group by 4.6% in the third quarter. US Bancorp DE now owns 3,283 shares of the food distribution company’s stock worth $342,000 after buying an additional 144 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its stake in shares of Performance Food Group by 0.8% in the second quarter. Orion Porfolio Solutions LLC now owns 24,960 shares of the food distribution company’s stock worth $2,183,000 after buying an additional 189 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Chasity D. Grosh sold 1,843 shares of the firm’s 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 owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

Performance Food Group Price Performance

NYSE PFGC opened at $86.63 on Tuesday. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 1.24 and a beta of 0.91. 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 1.45, a current ratio of 1.60 and a quick ratio of 0.68. The business’s fifty day moving average price is $93.40 and its 200-day moving average price is $96.56.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 EPS 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 during the quarter, compared to the consensus estimate of $16.54 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, equities 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 have recently commented on PFGC shares. Guggenheim reiterated a “buy” rating on shares of Performance Food Group in a report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Piper Sandler cut their target price on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Barclays reduced their target price on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Finally, Morgan Stanley decreased their price target on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Nine investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.44.

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.