Savoir Faire Capital Management L.P. Cuts Stake in Performance Food Group Company $PFGC

Savoir Faire Capital Management L.P. cut its stake in Performance Food Group Company (NYSE:PFGC) by 38.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,070 shares of the food distribution company’s stock after selling 33,737 shares during the period. Performance Food Group makes up 2.3% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 17th largest position. Savoir Faire Capital Management L.P.’s holdings in Performance Food Group were worth $4,952,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Root Financial Partners LLC acquired a new position in Performance Food Group during the third quarter worth approximately $39,000. Torren Management LLC acquired a new position in shares of Performance Food Group in the 4th quarter valued at $41,000. Eastern Bank acquired a new position in shares of Performance Food Group in the 3rd quarter valued at $47,000. Mather Group LLC. purchased a new stake in shares of Performance Food Group during the 3rd quarter valued at $55,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Performance Food Group by 440.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock worth $58,000 after buying an additional 537 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PFGC has been the topic of several research reports. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Citigroup lowered their price target on Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Barclays cut their price objective on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Morgan Stanley reduced their price objective on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Finally, Zacks Research upgraded Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.44.

Insider Activity

In other news, insider Chasity D. Grosh sold 1,843 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total value of $169,611.29. Following the completion of the sale, the insider owned 6,601 shares in the company, valued at approximately $607,490.03. This trade represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.50% of the company’s stock.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $90.53 on Friday. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The company has a market cap of $14.20 billion, a PE ratio of 41.15, a P/E/G ratio of 1.38 and a beta of 0.94. The company’s fifty day simple moving average is $88.62 and its 200-day simple moving average is $92.82. Performance Food Group Company has a 52 week low of $77.44 and a 52 week high of $109.05.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The business had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. During the same period last year, the company posted $0.98 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that Performance Food Group Company will post 4.59 EPS for the current year.

Performance Food Group Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.