Federated Hermes Inc. Trims Holdings in Performance Food Group (NYSE:PFGC)

Federated Hermes Inc. decreased its stake in shares of Performance Food Group (NYSE:PFGC) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 14,843 shares of the food distribution company’s stock after selling 682 shares during the period. Federated Hermes Inc.’s holdings in Performance Food Group were worth $1,255,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Millstone Evans Group LLC purchased a new position in Performance Food Group during the 4th quarter valued at about $26,000. Central Pacific Bank Trust Division purchased a new position in Performance Food Group during the fourth quarter valued at approximately $42,000. Blue Trust Inc. grew its stake in Performance Food Group by 64.6% during the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock valued at $42,000 after acquiring an additional 212 shares in the last quarter. V Square Quantitative Management LLC grew its position in Performance Food Group by 51.4% during the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock worth $60,000 after buying an additional 239 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Performance Food Group by 69.1% in the 4th quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock valued at $65,000 after acquiring an additional 313 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Price Performance

Shares of Performance Food Group stock opened at $76.28 on Tuesday. The firm has a market cap of $11.92 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 0.96 and a beta of 1.16. The company’s fifty day simple moving average is $79.75 and its two-hundred day simple moving average is $83.32. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS 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 analysts expect that Performance Food Group will post 4.58 EPS for the current year.

Analysts Set New Price Targets

PFGC has been the topic of several research analyst reports. 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. StockNews.com lowered shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Barclays dropped their price objective on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Finally, Melius assumed coverage on Performance Food Group in a research report on Wednesday, December 18th. They set a “hold” rating and a $95.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.