PNC Financial Services Group Inc. Lowers Stake in Performance Food Group (NYSE:PFGC)

PNC Financial Services Group Inc. reduced its position in shares of Performance Food Group (NYSE:PFGC) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,193 shares of the food distribution company’s stock after selling 776 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Performance Food Group were worth $693,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. KBC Group NV lifted its stake in Performance Food Group by 20.4% in the 3rd quarter. KBC Group NV now owns 4,106 shares of the food distribution company’s stock valued at $322,000 after buying an additional 695 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Performance Food Group by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 4,514 shares of the food distribution company’s stock valued at $354,000 after buying an additional 139 shares in the last quarter. Natixis Advisors LLC lifted its stake in Performance Food Group by 14.2% in the 3rd quarter. Natixis Advisors LLC now owns 221,544 shares of the food distribution company’s stock valued at $17,363,000 after buying an additional 27,586 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Performance Food Group by 19.9% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 5,961 shares of the food distribution company’s stock valued at $467,000 after buying an additional 991 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Performance Food Group in the 3rd quarter valued at about $3,032,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on PFGC shares. Barclays decreased their price target on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Melius Research raised shares of Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley raised their target price on shares of 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. Finally, StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.73.

Insiders Place Their Bets

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $84.60, for a total value of $1,733,961.60. Following the completion of the transaction, the insider now owns 172,372 shares in the company, valued at $14,582,671.20. The trade was a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Performance Food Group Stock Down 0.6 %

Performance Food Group stock opened at $76.60 on Wednesday. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. The firm has a 50 day moving average price of $84.70 and a 200 day moving average price of $83.14. The company has a market capitalization of $11.97 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Research analysts expect that Performance Food Group will post 4.58 earnings per share for the current year.

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.