D. E. Shaw & Co. Inc. Decreases Stake in Performance Food Group (NYSE:PFGC)

D. E. Shaw & Co. Inc. cut its position in Performance Food Group (NYSE:PFGC) by 27.5% during the fourth quarter, HoldingsChannel reports. The firm owned 357,724 shares of the food distribution company’s stock after selling 135,812 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Performance Food Group were worth $30,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock worth $330,625,000 after acquiring an additional 2,371,818 shares in the last quarter. Norges Bank purchased a new position in Performance Food Group in the fourth quarter valued at approximately $164,471,000. Freestone Grove Partners LP acquired a new stake in Performance Food Group during the fourth quarter worth approximately $35,250,000. JPMorgan Chase & Co. raised its holdings in Performance Food Group by 11.8% during the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after purchasing an additional 401,235 shares in the last quarter. Finally, TimesSquare Capital Management LLC lifted its position in shares of Performance Food Group by 658.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company’s stock worth $38,902,000 after buying an additional 399,430 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Stock Down 1.2 %

PFGC stock opened at $84.42 on Friday. The stock has a market capitalization of $13.19 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. The company has a fifty day moving average of $77.90 and a 200-day moving average of $83.20. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. Performance Food Group has a one year low of $61.60 and a one year high of $92.44.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.07). The business had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. As a group, analysts expect that Performance Food Group will post 4.58 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on PFGC. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Truist Financial reduced their target price on Performance Food Group from $104.00 to $101.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley raised their price target on Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Barclays raised their target price on shares of Performance Food Group from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $95.55.

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.