Assenagon Asset Management S.A. Buys 371,078 Shares of Performance Food Group (NYSE:PFGC)

Assenagon Asset Management S.A. boosted its holdings in Performance Food Group (NYSE:PFGC - Free Report) by 134.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 646,544 shares of the food distribution company's stock after buying an additional 371,078 shares during the quarter. Assenagon Asset Management S.A. owned 0.41% of Performance Food Group worth $54,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PFGC. Blue Trust Inc. lifted its position in Performance Food Group by 281.4% during the third quarter. Blue Trust Inc. now owns 328 shares of the food distribution company's stock valued at $26,000 after purchasing an additional 242 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Performance Food Group during the 3rd quarter valued at $26,000. Venturi Wealth Management LLC boosted its stake in shares of Performance Food Group by 203.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company's stock worth $32,000 after buying an additional 274 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Performance Food Group by 414.8% in the third quarter. UMB Bank n.a. now owns 453 shares of the food distribution company's stock worth $36,000 after acquiring an additional 365 shares during the period. Finally, V Square Quantitative Management LLC purchased a new stake in Performance Food Group during the third quarter valued at $36,000. Institutional investors own 96.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PFGC. Morgan Stanley restated an "equal weight" rating and set a $92.00 price target on shares of Performance Food Group in a research note on Monday, October 28th. BMO Capital Markets increased their price target on shares of Performance Food Group from $87.00 to $95.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Melius Research upgraded shares of Performance Food Group to a "hold" rating in a research note on Wednesday, December 18th. Piper Sandler upped their price objective on Performance Food Group from $79.00 to $92.00 and gave the stock an "overweight" rating in a research note on Monday, November 18th. Finally, UBS Group lifted their target price on Performance Food Group from $98.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $94.33.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of Performance Food Group stock in a transaction on Friday, December 20th. The shares were sold at an average price of $84.60, for a total value of $1,733,961.60. Following the completion of the transaction, the insider now directly owns 172,372 shares of the company's stock, valued at $14,582,671.20. This trade represents a 10.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.80% of the company's stock.

Performance Food Group Price Performance

PFGC traded up $0.12 on Thursday, hitting $87.19. 1,270,348 shares of the company's stock traded hands, compared to its average volume of 861,315. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The company has a current ratio of 1.70, a quick ratio of 0.73 and a debt-to-equity ratio of 1.12. The firm has a market cap of $13.58 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 0.91 and a beta of 1.43. The company's 50 day simple moving average is $86.29 and its 200-day simple moving average is $77.86.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). The company had revenue of $15.42 billion during the quarter, compared to analysts' expectations of $15.22 billion. Performance Food Group had a return on equity of 16.66% and a net margin of 0.72%. Performance Food Group's quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $1.15 EPS. As a group, research analysts anticipate that Performance Food Group will post 4.74 EPS for the current year.

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.