Candlestick Capital Management LP Sells 797,597 Shares of Performance Food Group (NYSE:PFGC)

Candlestick Capital Management LP lessened its position in shares of Performance Food Group (NYSE:PFGC) by 65.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 414,391 shares of the food distribution company’s stock after selling 797,597 shares during the period. Candlestick Capital Management LP’s holdings in Performance Food Group were worth $35,037,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital World Investors increased its holdings in shares of Performance Food Group by 0.7% in the 4th quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company’s stock worth $1,849,809,000 after buying an additional 157,987 shares during the last quarter. FMR LLC increased its stake in Performance Food Group by 0.6% in the fourth quarter. FMR LLC now owns 13,391,257 shares of the food distribution company’s stock valued at $1,132,231,000 after acquiring an additional 78,855 shares during the last quarter. Victory Capital Management Inc. increased its stake in Performance Food Group by 154.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after acquiring an additional 2,371,818 shares during the last quarter. Wellington Management Group LLP increased its stake in Performance Food Group by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company’s stock valued at $330,560,000 after acquiring an additional 147,080 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock valued at $298,794,000 after acquiring an additional 401,235 shares during the last quarter. Institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PFGC. Morgan Stanley increased their target price on Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. 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. Barclays reduced their target price on Performance Food Group from $102.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Performance Food Group presently has an average rating of “Moderate Buy” and an average target price of $95.09.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $79.46 on Monday. The stock has a fifty day moving average of $78.15 and a 200 day moving average of $83.23. Performance Food Group has a 52 week low of $61.60 and a 52 week high of $92.44. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 0.96 and a beta of 1.16. 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 (NYSE:PFGC) last announced 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, research analysts expect that Performance Food Group will post 4.58 earnings per share for the current year.

Performance Food Group 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.