Holocene Advisors LP Decreases Stock Holdings in Performance Food Group Company $PFGC

Holocene Advisors LP reduced its stake in shares of Performance Food Group Company (NYSE:PFGC) by 45.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,673,414 shares of the food distribution company’s stock after selling 1,405,563 shares during the quarter. Holocene Advisors LP owned 1.07% of Performance Food Group worth $174,102,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its position in shares of Performance Food Group by 30.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after acquiring an additional 184,066 shares during the period. Empowered Funds LLC acquired a new stake in shares of Performance Food Group in the 1st quarter worth approximately $359,000. ProShare Advisors LLC increased its stake in Performance Food Group by 4.0% in the 2nd quarter. ProShare Advisors LLC now owns 6,920 shares of the food distribution company’s stock valued at $605,000 after purchasing an additional 264 shares in the last quarter. Allworth Financial LP raised its holdings in Performance Food Group by 247.0% during the second quarter. Allworth Financial LP now owns 2,030 shares of the food distribution company’s stock worth $178,000 after purchasing an additional 1,445 shares during the last quarter. Finally, Vise Technologies Inc. acquired a new position in Performance Food Group during the second quarter worth $225,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on PFGC shares. UBS Group lowered their target price on Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Zacks Research lowered shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Piper Sandler lowered their price objective on shares of 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. Morgan Stanley dropped their target price on shares of Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Finally, Citigroup cut their target price on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.44.

Insiders Place Their Bets

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the sale, the insider directly owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.

Performance Food Group Stock Up 1.1%

PFGC stock opened at $88.19 on Monday. The company has a 50 day moving average price of $93.43 and a two-hundred day moving average price of $96.66. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60. The stock has a market capitalization of $13.83 billion, a P/E ratio of 40.09, a PEG ratio of 1.24 and a beta of 0.91. Performance Food Group Company has a one year low of $68.39 and a one year high of $109.05.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. As a group, sell-side analysts expect 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.