Geode Capital Management LLC Decreases Holdings in Performance Food Group (NYSE:PFGC)

Geode Capital Management LLC reduced its stake in Performance Food Group (NYSE:PFGC) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,581,322 shares of the food distribution company’s stock after selling 5,732 shares during the quarter. Geode Capital Management LLC owned approximately 1.65% of Performance Food Group worth $218,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PFGC. JPMorgan Chase & Co. lifted its position in shares of Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after buying an additional 401,235 shares in the last quarter. State Street Corp increased its position in Performance Food Group by 2.2% during the 3rd quarter. State Street Corp now owns 4,596,105 shares of the food distribution company’s stock valued at $360,197,000 after purchasing an additional 97,069 shares during the period. Kovitz Investment Group Partners LLC bought a new position in shares of Performance Food Group in the 3rd quarter worth $2,772,000. Assenagon Asset Management S.A. raised its stake in shares of Performance Food Group by 134.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after acquiring an additional 371,078 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Performance Food Group by 8.1% in the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock valued at $141,003,000 after buying an additional 125,532 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Performance Food Group stock opened at $73.39 on Friday. 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 company’s 50 day simple moving average is $82.19 and its 200-day simple moving average is $83.46. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (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%. As a group, equities research analysts expect that Performance Food Group will post 4.58 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on PFGC shares. StockNews.com downgraded Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Morgan Stanley boosted their price objective on Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Barclays reduced their price target on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Piper Sandler cut shares of Performance Food Group from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Melius began coverage on Performance Food Group in a research report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 price target for the company. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average target price of $95.73.

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.