Principal Financial Group Inc. Sells 122,438 Shares of Performance Food Group (NYSE:PFGC)

Principal Financial Group Inc. lessened its holdings in Performance Food Group (NYSE:PFGC - Free Report) by 8.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,339,456 shares of the food distribution company's stock after selling 122,438 shares during the period. Principal Financial Group Inc. owned about 0.86% of Performance Food Group worth $113,252,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFGC. FMR LLC increased its holdings in Performance Food Group by 26.3% during the third quarter. FMR LLC now owns 13,312,402 shares of the food distribution company's stock valued at $1,043,293,000 after buying an additional 2,773,547 shares during the last quarter. Holocene Advisors LP increased its stake in shares of 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 worth $234,174,000 after purchasing an additional 724,094 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Performance Food Group by 29.1% in the 3rd quarter. Primecap Management Co. CA now owns 2,098,330 shares of the food distribution company's stock worth $164,446,000 after purchasing an additional 473,050 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Performance Food Group by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after purchasing an additional 401,235 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Performance Food Group by 134.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company's stock valued at $54,665,000 after purchasing an additional 371,078 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

Insider Buying and Selling at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the sale, the insider now owns 172,372 shares of the company's stock, valued at $14,582,671.20. This represents a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by company insiders.

Performance Food Group Price Performance

PFGC traded down $2.78 during trading on Friday, hitting $81.76. 1,467,096 shares of the company traded hands, compared to its average volume of 1,193,771. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The company has a market cap of $12.77 billion, a PE ratio of 32.97, a P/E/G ratio of 0.98 and a beta of 1.44. The stock's 50-day simple moving average is $86.71 and its two-hundred day simple moving average is $81.87. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share 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, sell-side analysts anticipate that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. BMO Capital Markets upped their price target on Performance Food Group from $87.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Melius assumed 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. Melius Research upgraded shares of Performance Food Group to a "hold" rating in a research note on Wednesday, December 18th. Barclays dropped their price target on shares of Performance Food Group from $103.00 to $102.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Finally, Truist Financial raised their price objective 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. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.