Alliancebernstein L.P. Reduces Holdings in Performance Food Group (NYSE:PFGC)

Alliancebernstein L.P. decreased its position in shares of Performance Food Group (NYSE:PFGC - Free Report) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 222,503 shares of the food distribution company's stock after selling 23,247 shares during the quarter. Alliancebernstein L.P. owned 0.14% of Performance Food Group worth $18,813,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Coldstream Capital Management Inc. grew its position in Performance Food Group by 3.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company's stock worth $329,000 after purchasing an additional 142 shares during the period. Highland Capital Management LLC boosted its stake in shares of Performance Food Group by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 2,915 shares of the food distribution company's stock worth $246,000 after buying an additional 183 shares during the last quarter. Blue Trust Inc. grew its holdings in Performance Food Group by 64.6% during the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock worth $42,000 after acquiring an additional 212 shares during the period. M&T Bank Corp raised its position in Performance Food Group by 1.1% during the fourth quarter. M&T Bank Corp now owns 18,891 shares of the food distribution company's stock valued at $1,597,000 after acquiring an additional 213 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in Performance Food Group by 40.8% in the fourth quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company's stock valued at $66,000 after acquiring an additional 226 shares during the period. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

PFGC traded up $0.05 on Friday, hitting $75.50. 1,262,500 shares of the company's stock were exchanged, compared to its average volume of 1,121,949. The firm has a 50-day moving average price of $79.99 and a 200-day moving average price of $83.30. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 30.45, a P/E/G ratio of 0.96 and a beta of 1.16. 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 has a fifty-two week low of $61.60 and a fifty-two week high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its 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 return on equity of 16.58% and a net margin of 0.64%. As a group, equities analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Performance Food Group Company 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.