CastleKnight Management LP Sells 2,900 Shares of Performance Food Group (NYSE:PFGC)

CastleKnight Management LP trimmed its stake in shares of Performance Food Group (NYSE:PFGC) by 28.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,300 shares of the food distribution company’s stock after selling 2,900 shares during the quarter. CastleKnight Management LP’s holdings in Performance Food Group were worth $505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of Performance Food Group by 179.2% during the 4th quarter. State of Alaska Department of Revenue now owns 51,803 shares of the food distribution company’s stock valued at $3,581,000 after purchasing an additional 33,250 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Performance Food Group by 707.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 12,810 shares of the food distribution company’s stock valued at $886,000 after purchasing an additional 11,223 shares during the period. Vanguard Group Inc. raised its stake in shares of Performance Food Group by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 15,929,544 shares of the food distribution company’s stock valued at $937,613,000 after purchasing an additional 107,449 shares during the period. CX Institutional raised its stake in shares of Performance Food Group by 31.4% during the 4th quarter. CX Institutional now owns 75,294 shares of the food distribution company’s stock valued at $5,207,000 after purchasing an additional 18,005 shares during the period. Finally, Leeward Investments LLC MA increased its stake in Performance Food Group by 14.0% in the 4th quarter. Leeward Investments LLC MA now owns 274,805 shares of the food distribution company’s stock worth $19,003,000 after acquiring an additional 33,839 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PFGC shares. StockNews.com lowered Performance Food Group from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Morgan Stanley upped their target price on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Finally, Barclays decreased their target price on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Performance Food Group has an average rating of “Moderate Buy” and an average target price of $81.14.

Performance Food Group Price Performance

Shares of PFGC traded down $1.18 during midday trading on Friday, reaching $69.50. The stock had a trading volume of 455,987 shares, compared to its average volume of 1,021,507. The company’s 50-day moving average is $70.15 and its 200 day moving average is $70.97. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54. The company has a current ratio of 1.64, a quick ratio of 0.77 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $10.81 billion, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.01 and a beta of 1.41.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $13.86 billion for the quarter, compared to analysts’ expectations of $14.10 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.22%. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. On average, equities analysts predict that Performance Food Group will post 4.21 EPS 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.