Performance Food Group (NYSE:PFGC) Stock Holdings Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its holdings in shares of Performance Food Group (NYSE:PFGC) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 85,607 shares of the food distribution company’s stock after selling 28,600 shares during the period. Renaissance Technologies LLC’s holdings in Performance Food Group were worth $7,238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Performance Food Group by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after buying an additional 401,235 shares during the period. Assenagon Asset Management S.A. lifted its position in Performance Food Group by 134.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after purchasing an additional 371,078 shares during the period. Jennison Associates LLC increased its position in shares of Performance Food Group by 8.1% during the 4th quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock valued at $141,003,000 after purchasing an additional 125,532 shares during the period. Inspire Investing LLC bought a new stake in shares of Performance Food Group in the 4th quarter worth $814,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Performance Food Group in the fourth quarter valued at $2,087,000. 96.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Barclays dropped 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 report on Thursday, February 6th. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Finally, Morgan Stanley increased their price objective on shares of 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. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $95.73.

Performance Food Group Price Performance

Shares of PFGC stock opened at $75.93 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The firm’s 50 day moving average is $78.97 and its 200-day moving average is $83.18. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The firm has a market capitalization of $11.86 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 0.96 and a beta of 1.16.

Performance Food Group (NYSE:PFGC) last posted 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%. Sell-side analysts forecast that Performance Food Group will post 4.58 EPS for the current fiscal 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.