Voya Investment Management LLC Sells 28,930 Shares of Performance Food Group Company $PFGC

Voya Investment Management LLC lowered its position in shares of Performance Food Group Company (NYSE:PFGC) by 44.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,817 shares of the food distribution company’s stock after selling 28,930 shares during the period. Voya Investment Management LLC’s holdings in Performance Food Group were worth $3,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PFGC. Norges Bank purchased a new position in shares of Performance Food Group during the 2nd quarter valued at about $163,954,000. Primecap Management Co. CA grew its position in Performance Food Group by 22.1% during the second quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock valued at $224,930,000 after acquiring an additional 465,807 shares during the last quarter. Bain Capital Public Equity Management II LLC raised its stake in shares of Performance Food Group by 14.1% during the first quarter. Bain Capital Public Equity Management II LLC now owns 2,377,994 shares of the food distribution company’s stock worth $186,982,000 after acquiring an additional 293,837 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Performance Food Group in the 2nd quarter worth approximately $24,726,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Performance Food Group by 499.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after purchasing an additional 273,997 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

PFGC opened at $91.78 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.70 and a current ratio of 1.67. The stock has a market capitalization of $14.39 billion, a PE ratio of 44.12, a price-to-earnings-growth ratio of 1.11 and a beta of 0.94. The stock’s 50 day moving average price is $95.52 and its 200-day moving average price is $97.15. Performance Food Group Company has a 52-week low of $68.39 and a 52-week high of $109.05.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, November 5th. The food distribution company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.02. Performance Food Group had a net margin of 0.50% and a return on equity of 15.97%. The business had revenue of $17.08 billion for the quarter, compared to analysts’ expectations of $16.87 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts predict that Performance Food Group Company will post 4.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PFGC shares. UBS Group reiterated a “buy” rating and issued a $120.00 target price on shares of Performance Food Group in a research report on Friday, December 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research note on Monday. Barclays increased their target price on Performance Food Group from $118.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Sanford C. Bernstein assumed coverage on Performance Food Group in a research report on Wednesday, October 22nd. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, Wall Street Zen cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Saturday, October 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Performance Food Group presently has an average rating of “Moderate Buy” and a consensus target price of $116.22.

About Performance Food Group

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.