Truist Financial Corp Lowers Stake in Performance Food Group (NYSE:PFGC)

Truist Financial Corp cut its stake in Performance Food Group (NYSE:PFGC) by 5.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 194,758 shares of the food distribution company’s stock after selling 12,233 shares during the period. Truist Financial Corp owned about 0.13% of Performance Food Group worth $13,468,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC boosted its holdings in shares of Performance Food Group by 16.1% in the 3rd quarter. Clearbridge Investments LLC now owns 6,348,695 shares of the food distribution company’s stock worth $373,684,000 after purchasing an additional 879,232 shares in the last quarter. Earnest Partners LLC boosted its stake in Performance Food Group by 162.5% in the third quarter. Earnest Partners LLC now owns 768,432 shares of the food distribution company’s stock worth $45,230,000 after buying an additional 475,683 shares in the last quarter. Palestra Capital Management LLC grew its position in Performance Food Group by 25.1% during the third quarter. Palestra Capital Management LLC now owns 2,259,010 shares of the food distribution company’s stock valued at $132,965,000 after acquiring an additional 453,453 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Performance Food Group by 333.1% during the third quarter. The Manufacturers Life Insurance Company now owns 504,311 shares of the food distribution company’s stock worth $29,684,000 after acquiring an additional 387,869 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in shares of Performance Food Group by 225.3% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 528,462 shares of the food distribution company’s stock worth $31,105,000 after acquiring an additional 365,997 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of Performance Food Group stock opened at $68.43 on Thursday. The business has a 50 day moving average of $73.25 and a 200 day moving average of $68.78. Performance Food Group has a 52 week low of $52.92 and a 52 week high of $78.54. The company has a market cap of $10.65 billion, a PE ratio of 24.97, a P/E/G ratio of 0.93 and a beta of 1.39. The company has a quick ratio of 0.75, a current ratio of 1.71 and a debt-to-equity ratio of 1.05.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $14.30 billion during the quarter, compared to the consensus estimate of $14.20 billion. Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.83 earnings per share. As a group, equities research analysts forecast that Performance Food Group will post 4.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stephens increased their target price on shares of Performance Food Group from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. Barclays boosted their target price on Performance Food Group from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. Morgan Stanley raised their price target on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Finally, BMO Capital Markets increased their price objective on Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

About Performance Food Group

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.