Ontario Teachers Pension Plan Board Reduces Holdings in Performance Food Group (NYSE:PFGC)

Ontario Teachers Pension Plan Board reduced its holdings in Performance Food Group (NYSE:PFGC - Free Report) by 74.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,895 shares of the food distribution company's stock after selling 22,889 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Performance Food Group were worth $619,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Performance Food Group by 281.4% in the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company's stock valued at $26,000 after acquiring an additional 242 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Performance Food Group in the third quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its stake in Performance Food Group by 203.0% in the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company's stock valued at $32,000 after acquiring an additional 274 shares during the period. UMB Bank n.a. grew its stake in Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company's stock valued at $36,000 after acquiring an additional 365 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Performance Food Group in the second quarter valued at approximately $30,000. 96.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PFGC shares. Wells Fargo & Company lifted their target price on Performance Food Group from $83.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, October 9th. StockNews.com cut Performance Food Group from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th. Piper Sandler lifted their target price on Performance Food Group from $79.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday. Morgan Stanley reaffirmed an "equal weight" rating and set a $92.00 target price on shares of Performance Food Group in a research report on Monday, October 28th. Finally, Guggenheim lifted their price target on Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Performance Food Group currently has a consensus rating of "Moderate Buy" and an average price target of $94.27.

Insider Buying and Selling

In other news, insider Patrick T. Hagerty sold 8,000 shares of the company's stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. This represents a 4.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by company insiders.

Performance Food Group Stock Performance

Shares of PFGC traded up $1.19 during mid-day trading on Friday, hitting $87.59. The stock had a trading volume of 798,751 shares, compared to its average volume of 1,025,411. The firm has a market cap of $13.65 billion, a P/E ratio of 31.88, a PEG ratio of 0.89 and a beta of 1.44. The business has a fifty day moving average price of $81.05 and a 200-day moving average price of $73.17. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $89.00.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm had revenue of $15.42 billion during the quarter, compared to the consensus estimate of $15.22 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business's quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts expect that Performance Food Group will post 4.73 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.