Performance Food Group (NYSE:PFGC) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC reduced its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 11.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,914,844 shares of the food distribution company's stock after selling 652,437 shares during the quarter. Clearbridge Investments LLC owned approximately 3.15% of Performance Food Group worth $415,550,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in shares of Performance Food Group by 154.2% in the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock valued at $330,625,000 after acquiring an additional 2,371,818 shares during the period. Norges Bank purchased a new stake in Performance Food Group during the fourth quarter worth about $164,471,000. Holocene Advisors LP increased its stake in Performance Food Group by 32.0% in the 3rd quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company's stock valued at $234,174,000 after purchasing an additional 724,094 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Performance Food Group by 11.8% in the third 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 in the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in shares of Performance Food Group by 658.3% during the 4th quarter. TimesSquare Capital Management LLC now owns 460,105 shares of the food distribution company's stock worth $38,902,000 after buying an additional 399,430 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PFGC shares. Melius Research upgraded Performance Food Group to a "hold" rating in a research report on Wednesday, December 18th. Morgan Stanley upped their target price 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. Barclays lowered their price target on Performance Food Group from $103.00 to $102.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Melius started coverage on shares of Performance Food Group in a report on Wednesday, December 18th. They set a "hold" rating and a $95.00 price objective on the stock. Finally, StockNews.com downgraded shares of Performance Food Group from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $95.73.

Performance Food Group Stock Performance

Shares of NYSE PFGC traded down $3.71 during trading on Thursday, reaching $77.23. The stock had a trading volume of 1,247,060 shares, compared to its average volume of 1,107,055. The firm's 50 day moving average price is $82.76 and its two-hundred day moving average price is $83.47. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The stock has a market cap of $12.06 billion, a PE ratio of 31.14, a P/E/G ratio of 0.96 and a beta of 1.40. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67.

Performance Food Group (NYSE:PFGC - Get Free Report) last released 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 net margin of 0.64% and a return on equity of 16.58%. On average, research analysts forecast that Performance Food Group will post 4.58 earnings per share 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.