Corebridge Financial Inc. Reduces Holdings in Performance Food Group (NYSE:PFGC)

Corebridge Financial Inc. trimmed its stake in Performance Food Group (NYSE:PFGC - Free Report) by 4.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,528 shares of the food distribution company's stock after selling 7,989 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Performance Food Group worth $14,925,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

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Performance Food Group Price Performance

NYSE:PFGC traded down $0.64 during trading hours on Friday, hitting $77.36. The company's stock had a trading volume of 629,481 shares, compared to its average volume of 1,110,331. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. The business's 50-day moving average is $83.29 and its two-hundred day moving average is $83.32. The company has a market capitalization of $12.08 billion, a PE ratio of 31.19, a PEG ratio of 0.96 and a beta of 1.40.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, research analysts anticipate 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.