Quest Partners LLC Cuts Stock Position in Performance Food Group (NYSE:PFGC)

Quest Partners LLC cut its position in shares of Performance Food Group (NYSE:PFGC - Free Report) by 75.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,325 shares of the food distribution company's stock after selling 13,493 shares during the quarter. Quest Partners LLC's holdings in Performance Food Group were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in shares of Performance Food Group by 3.2% during the third quarter. CIBC Asset Management Inc now owns 4,514 shares of the food distribution company's stock valued at $354,000 after purchasing an additional 139 shares in the last quarter. Creative Planning boosted its position in shares of Performance Food Group by 1.2% in the 3rd quarter. Creative Planning now owns 11,684 shares of the food distribution company's stock worth $916,000 after purchasing an additional 140 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Performance Food Group by 2.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company's stock worth $469,000 after buying an additional 160 shares during the last quarter. Cetera Investment Advisers increased its position in Performance Food Group by 0.4% during the 2nd quarter. Cetera Investment Advisers now owns 46,037 shares of the food distribution company's stock valued at $3,044,000 after buying an additional 186 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company's stock valued at $26,000 after buying an additional 242 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PFGC has been the topic of a number of recent research reports. StockNews.com cut Performance Food Group from a "buy" rating to a "hold" rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Morgan Stanley reaffirmed an "equal weight" rating and issued a $92.00 target price on shares of Performance Food Group in a report on Monday, October 28th. Wells Fargo & Company increased their price target on shares of Performance Food Group from $83.00 to $88.00 and gave the company an "overweight" rating in a report on Wednesday, October 9th. Finally, Truist Financial raised their price target on shares of Performance Food Group from $88.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Performance Food Group has a consensus rating of "Moderate Buy" and an average target price of $94.27.

Insiders Place Their Bets

In related news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the insider now directly owns 162,987 shares of the company's stock, valued at approximately $12,152,310.72. This represents a 4.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.80% of the company's stock.

Performance Food Group Stock Performance

PFGC traded down $0.68 during mid-day trading on Tuesday, reaching $88.09. 616,986 shares of the company traded hands, compared to its average volume of 1,024,175. The company's fifty day moving average price is $81.60 and its 200-day moving average price is $73.47. The stock has a market capitalization of $13.72 billion, a P/E ratio of 32.75, a P/E/G ratio of 0.94 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $89.73.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing analysts' consensus estimates of $1.22 by ($0.06). The firm had revenue of $15.42 billion for the quarter, compared to analysts' expectations of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm's revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 EPS. On average, sell-side 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.