Performance Food Group (NYSE:PFGC) Stake Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 166.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 275,466 shares of the food distribution company's stock after acquiring an additional 171,953 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of Performance Food Group worth $21,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Atria Investments Inc grew its stake in Performance Food Group by 79.3% during the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company's stock valued at $2,180,000 after purchasing an additional 12,919 shares in the last quarter. BNP Paribas acquired a new stake in shares of Performance Food Group during the first quarter worth approximately $1,251,000. Capstone Investment Advisors LLC bought a new stake in shares of Performance Food Group in the first quarter worth $1,030,000. Magnetar Financial LLC acquired a new stake in Performance Food Group in the first quarter valued at $1,913,000. Finally, Dimensional Fund Advisors LP boosted its stake in Performance Food Group by 27.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company's stock valued at $142,170,000 after acquiring an additional 469,500 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

PFGC traded up $0.69 during trading on Friday, reaching $82.55. 769,858 shares of the company were exchanged, compared to its average volume of 1,013,876. Performance Food Group has a 52 week low of $54.71 and a 52 week high of $83.70. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm has a 50 day moving average of $77.10 and a 200 day moving average of $71.23. The stock has a market cap of $12.87 billion, a P/E ratio of 29.59, a PEG ratio of 0.83 and a beta of 1.45.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The business had revenue of $15.20 billion for the quarter, compared to analysts' expectations of $15.25 billion. During the same quarter last year, the company earned $1.14 EPS. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Performance Food Group will post 4.88 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PFGC shares. Jefferies Financial Group boosted their target price on shares of Performance Food Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. StockNews.com upgraded Performance Food Group from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Barclays lifted their target price on Performance Food Group from $88.00 to $98.00 and gave the stock an "overweight" rating in a research report on Tuesday. Truist Financial upped their price target on Performance Food Group from $86.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets raised their price objective on Performance Food Group from $80.00 to $87.00 and gave the stock an "outperform" rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.88.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of Performance Food Group stock in a transaction on Friday, August 30th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the insider now owns 162,987 shares of the company's stock, valued at $12,152,310.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Performance Food Group news, insider Patrick T. Hagerty sold 8,000 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the insider now owns 162,987 shares of the company's stock, valued at approximately $12,152,310.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider George L. Holm sold 63,500 shares of the business's stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,500 shares of company stock worth $7,426,075 in the last three months. 2.80% of the stock is owned by company insiders.

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.