Truist Financial Corp Trims Stake in Performance Food Group Company $PFGC

Truist Financial Corp trimmed its position in Performance Food Group Company (NYSE:PFGC) by 30.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,603 shares of the food distribution company’s stock after selling 19,907 shares during the quarter. Truist Financial Corp’s holdings in Performance Food Group were worth $4,640,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PFGC. Parkside Financial Bank & Trust lifted its stake in 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 worth $32,000 after acquiring an additional 123 shares during the period. AlphaQuest LLC raised its holdings in shares of Performance Food Group by 658.0% in the 2nd quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock valued at $33,000 after purchasing an additional 329 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Performance Food Group in the 3rd quarter valued at about $39,000. Golden State Wealth Management LLC lifted its position in shares of Performance Food Group by 148.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock worth $46,000 after purchasing an additional 312 shares during the period. Finally, Eastern Bank bought a new position in shares of Performance Food Group during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group reaffirmed a “buy” rating and set a $120.00 target price on shares of Performance Food Group in a research report on Friday, December 19th. Citigroup reduced their target price on shares of Performance Food Group from $134.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. Sanford C. Bernstein initiated coverage on shares of Performance Food Group in a report on Wednesday, October 22nd. They issued an “outperform” rating and a $130.00 price target on the stock. Guggenheim reaffirmed a “buy” rating on shares of Performance Food Group in a research report on Thursday, December 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.22.

Performance Food Group Trading Up 2.4%

Shares of Performance Food Group stock opened at $97.04 on Wednesday. Performance Food Group Company has a 12-month low of $68.39 and a 12-month high of $109.05. The firm’s 50 day simple moving average is $93.23 and its two-hundred day simple moving average is $97.94. The company has a current ratio of 1.67, a quick ratio of 0.70 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $15.22 billion, a price-to-earnings ratio of 46.65, a PEG ratio of 1.14 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. The company had revenue of $17.08 billion during the quarter, compared to analyst estimates of $16.87 billion. Performance Food Group had a return on equity of 15.97% and a net margin of 0.50%.The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. Analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

Performance Food Group 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.