Truist Financial Corp Sells 12,233 Shares of Performance Food Group (NYSE:PFGC)

Truist Financial Corp lowered its position in Performance Food Group (NYSE:PFGC) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 194,758 shares of the food distribution company’s stock after selling 12,233 shares during the period. Truist Financial Corp’s holdings in Performance Food Group were worth $13,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. McGlone Suttner Wealth Management Inc. bought a new position in shares of Performance Food Group in the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new position in Performance Food Group in the 4th quarter worth about $29,000. Signaturefd LLC increased its position in shares of Performance Food Group by 38.8% during the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock worth $35,000 after acquiring an additional 143 shares during the period. Fifth Third Bancorp raised its stake in shares of Performance Food Group by 50.4% during the third quarter. Fifth Third Bancorp now owns 821 shares of the food distribution company’s stock valued at $48,000 after acquiring an additional 275 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Performance Food Group by 16.1% in the third quarter. Covestor Ltd now owns 1,965 shares of the food distribution company’s stock valued at $116,000 after purchasing an additional 272 shares during the period. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Up 0.8 %

NYSE:PFGC opened at $68.43 on Thursday. The company’s 50-day simple moving average is $73.25 and its 200-day simple moving average is $68.78. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.75 and a current ratio of 1.71. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $78.54. The stock has a market capitalization of $10.65 billion, a P/E ratio of 24.97, a P/E/G ratio of 0.93 and a beta of 1.39.

Performance Food Group (NYSE:PFGC) last posted its earnings results on Wednesday, February 7th. The food distribution company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Performance Food Group had a net margin of 0.74% and a return on equity of 16.77%. The firm had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.20 billion. During the same period in the previous year, the company earned $0.83 EPS. The company’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PFGC has been the topic of several research reports. Morgan Stanley raised their price objective on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Barclays lifted their price objective on Performance Food Group from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, February 8th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. BMO Capital Markets boosted their price target on shares of Performance Food Group from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 8th. Finally, Stephens increased their price objective on shares of Performance Food Group from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, February 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.25.

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.