JPMorgan Chase & Co. Sells 934,860 Shares of Performance Food Group Company $PFGC

JPMorgan Chase & Co. reduced its stake in shares of Performance Food Group Company (NYSE:PFGC) by 18.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,253,009 shares of the food distribution company’s stock after selling 934,860 shares during the period. JPMorgan Chase & Co.’s holdings in Performance Food Group were worth $372,013,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PFGC. Parkside Financial Bank & Trust grew its holdings in Performance Food Group by 51.3% during the second quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after purchasing an additional 123 shares during the period. AlphaQuest LLC raised its stake in shares of Performance Food Group by 658.0% in the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock valued at $33,000 after buying an additional 329 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Performance Food Group during the 1st quarter valued at $44,000. Golden State Wealth Management LLC grew its stake in shares of Performance Food Group by 148.6% during the 2nd quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock worth $46,000 after acquiring an additional 312 shares during the period. Finally, SVB Wealth LLC purchased a new stake in Performance Food Group in the 1st quarter worth about $59,000. Institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

In other news, insider A Brent King sold 6,334 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $105.10, for a total transaction of $665,703.40. Following the completion of the transaction, the insider directly owned 62,852 shares in the company, valued at $6,605,745.20. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erika T. Davis sold 4,100 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $105.06, for a total transaction of $430,746.00. Following the completion of the transaction, the insider owned 46,541 shares in the company, valued at approximately $4,889,597.46. The trade was a 8.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 18,019 shares of company stock valued at $1,884,319. 4.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PFGC shares. Wall Street Zen lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Performance Food Group in a research note on Tuesday, August 26th. Piper Sandler increased their target price on Performance Food Group from $114.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, November 10th. Truist Financial boosted their price target on shares of Performance Food Group from $101.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Finally, Barclays increased their price objective on Performance Food Group from $118.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.60.

Performance Food Group Price Performance

PFGC opened at $94.30 on Tuesday. The stock’s 50 day moving average price is $100.13 and its 200-day moving average price is $96.24. The stock has a market capitalization of $14.79 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The company has a debt-to-equity ratio of 1.51, a quick ratio of 0.72 and a current ratio of 1.58. Performance Food Group Company has a 52-week low of $68.39 and a 52-week high of $109.05.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.02. Performance Food Group had a net margin of 0.54% and a return on equity of 16.23%. The company had revenue of $17.08 billion during the quarter, compared to the consensus estimate of $16.87 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. Performance Food Group’s revenue was up 10.8% on a year-over-year basis. Performance Food Group has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. On average, equities research analysts predict that Performance Food Group Company will post 4.58 EPS 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.