JPMorgan Chase & Co. Sells 128,436 Shares of Performance Food Group (NYSE:PFGC)

JPMorgan Chase & Co. lowered its holdings in Performance Food Group (NYSE:PFGC) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,684,166 shares of the food distribution company’s stock after selling 128,436 shares during the quarter. JPMorgan Chase & Co.’s holdings in Performance Food Group were worth $311,496,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PFGC. Victory Capital Management Inc. boosted its position in Performance Food Group by 154.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after purchasing an additional 2,371,818 shares in the last quarter. Holocene Advisors LP lifted its position in shares of Performance Food Group by 32.0% during the third quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock valued at $234,174,000 after buying an additional 724,094 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in shares of Performance Food Group by 658.3% in the 4th quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company’s stock valued at $38,902,000 after buying an additional 399,430 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Performance Food Group by 134.7% in 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 buying an additional 371,078 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Performance Food Group during the 4th quarter worth approximately $16,830,000. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on PFGC. StockNews.com downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Melius initiated coverage on Performance Food Group in a research note on Wednesday, December 18th. They set a “hold” rating and a $95.00 target price on the stock. Morgan Stanley increased their price target on Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Piper Sandler lowered Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Melius Research raised shares of Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.73.

Performance Food Group Trading Down 0.8 %

NYSE PFGC opened at $77.36 on Monday. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The company has a market capitalization of $12.08 billion, a PE ratio of 31.19, a P/E/G ratio of 0.96 and a beta of 1.40. The company has a fifty day moving average of $83.29 and a 200 day moving average of $83.41.

Performance Food Group (NYSE:PFGC) last posted its 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 forecast 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.