Principal Financial Group Inc. Cuts Stake in Performance Food Group (NYSE:PFGC)

Principal Financial Group Inc. reduced its stake in shares of Performance Food Group (NYSE:PFGC) by 8.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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.’s holdings in Performance Food Group were worth $113,252,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Principal Securities Inc. lifted its holdings in shares of Performance Food Group by 29.3% during the 4th quarter. Principal Securities Inc. now owns 1,309 shares of the food distribution company’s stock worth $111,000 after acquiring an additional 297 shares during the period. Rhumbline Advisers increased its position in Performance Food Group by 0.5% during the 4th quarter. Rhumbline Advisers now owns 424,648 shares of the food distribution company’s stock worth $35,904,000 after purchasing an additional 2,148 shares in the last quarter. Blue Trust Inc. increased its position in Performance Food Group by 72.6% during the 4th quarter. Blue Trust Inc. now owns 566 shares of the food distribution company’s stock worth $48,000 after purchasing an additional 238 shares in the last quarter. V Square Quantitative Management LLC increased its position 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 purchasing an additional 239 shares in the last quarter. Finally, abrdn plc increased its position in Performance Food Group by 3.8% during the 4th quarter. abrdn plc now owns 17,699 shares of the food distribution company’s stock worth $1,490,000 after purchasing an additional 649 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the transaction, the insider now directly owns 172,372 shares in the company, valued at $14,582,671.20. This trade represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PFGC. Barclays dropped their target price 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. Guggenheim increased their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler downgraded shares of Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. UBS Group increased their target price on shares of Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Melius Research raised shares of Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and a consensus target price of $95.73.

Performance Food Group Stock Down 0.6 %

PFGC stock opened at $86.59 on Wednesday. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The company has a current ratio of 1.67, a quick ratio of 0.73 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $13.53 billion, a P/E ratio of 34.91, a PEG ratio of 0.96 and a beta of 1.44. The firm has a 50 day simple moving average of $86.87 and a 200-day simple moving average of $81.67.

Performance Food Group (NYSE:PFGC) last released its quarterly 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 return on equity of 16.58% and a net margin of 0.64%. On average, equities research analysts predict that Performance Food Group will post 4.6 earnings per share for the current fiscal year.

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.