Sunriver Management LLC Trims Holdings in Performance Food Group (NYSE:PFGC)

Sunriver Management LLC cut its stake in shares of Performance Food Group (NYSE:PFGC - Free Report) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 911,692 shares of the food distribution company's stock after selling 20,193 shares during the quarter. Performance Food Group makes up approximately 9.2% of Sunriver Management LLC's portfolio, making the stock its biggest position. Sunriver Management LLC owned 0.58% of Performance Food Group worth $77,084,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PFGC. HighPoint Advisor Group LLC grew its position in Performance Food Group by 2.7% in the 4th quarter. HighPoint Advisor Group LLC now owns 4,630 shares of the food distribution company's stock valued at $389,000 after purchasing an additional 121 shares during the period. Coldstream Capital Management Inc. increased its position in shares of Performance Food Group by 3.5% during the third quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company's stock worth $329,000 after acquiring an additional 142 shares in the last quarter. Highland Capital Management LLC lifted its stake in Performance Food Group by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 2,915 shares of the food distribution company's stock valued at $246,000 after acquiring an additional 183 shares in the last quarter. Blue Trust Inc. boosted its holdings in Performance Food Group by 64.6% during the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock worth $42,000 after acquiring an additional 212 shares during the last quarter. Finally, M&T Bank Corp grew its stake in shares of Performance Food Group by 1.1% in the 4th quarter. M&T Bank Corp now owns 18,891 shares of the food distribution company's stock worth $1,597,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 96.87% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PFGC. Morgan Stanley upped their price objective on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Barclays reduced their price objective on Performance Food Group from $103.00 to $102.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Piper Sandler downgraded Performance Food Group from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $92.00 to $90.00 in a research note on Friday, February 7th. 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $95.73.

Performance Food Group Stock Performance

PFGC stock traded up $1.06 on Friday, hitting $75.93. The company had a trading volume of 1,024,762 shares, compared to its average volume of 1,115,486. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of 30.62, a P/E/G ratio of 0.96 and a beta of 1.16. 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 stock's 50-day simple moving average is $79.12 and its 200 day simple moving average is $83.19. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its earnings results 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, equities research analysts expect 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.