Commerce Bank Cuts Stock Position in Performance Food Group (NYSE:PFGC)

Commerce Bank decreased its holdings in Performance Food Group (NYSE:PFGC) by 15.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 89,147 shares of the food distribution company’s stock after selling 16,638 shares during the period. Commerce Bank’s holdings in Performance Food Group were worth $7,537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Millstone Evans Group LLC purchased a new position in Performance Food Group during the 4th quarter valued at about $26,000. Central Pacific Bank Trust Division purchased a new stake in shares of Performance Food Group in the fourth quarter worth $42,000. Blue Trust Inc. increased its stake in Performance Food Group by 64.6% during the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock valued at $42,000 after purchasing an additional 212 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in Performance Food Group by 51.4% in the 4th quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock worth $60,000 after acquiring an additional 239 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Performance Food Group by 69.1% during the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock valued at $65,000 after purchasing an additional 313 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PFGC has been the topic of several research reports. Barclays dropped their target price on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Piper Sandler cut 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. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley lifted their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.73.

Performance Food Group Trading Up 1.4 %

Shares of PFGC opened at $75.93 on Friday. The company has a market cap of $11.86 billion, a P/E ratio of 30.62, a P/E/G ratio of 0.96 and a beta of 1.16. The company’s fifty day simple moving average is $78.97 and its 200-day simple moving average is $83.21. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56.

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 for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. As a group, analysts expect that Performance Food Group will post 4.58 EPS for the current year.

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.