AEGON ASSET MANAGEMENT UK Plc trimmed its holdings in Performance Food Group (NYSE:PFGC - Free Report) by 6.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 245,733 shares of the food distribution company's stock after selling 17,048 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned 0.16% of Performance Food Group worth $19,327,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its position in Performance Food Group by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after purchasing an additional 401,235 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Performance Food Group by 64.6% during the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock worth $42,000 after purchasing an additional 212 shares during the last quarter. KBC Group NV grew its holdings in shares of Performance Food Group by 46.5% during the fourth quarter. KBC Group NV now owns 6,017 shares of the food distribution company's stock worth $509,000 after buying an additional 1,911 shares in the last quarter. Jennison Associates LLC grew its stake in Performance Food Group by 8.1% in the 4th quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company's stock worth $141,003,000 after acquiring an additional 125,532 shares during the period. Finally, Trust Point Inc. grew its holdings in Performance Food Group by 23.8% in the 4th quarter. Trust Point Inc. now owns 4,645 shares of the food distribution company's stock valued at $393,000 after buying an additional 894 shares during the period. 96.87% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, insider Craig Howard Hoskins sold 19,113 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $87.55, for a total value of $1,673,343.15. Following the sale, the insider now owns 152,293 shares in the company, valued at approximately $13,333,252.15. This represents a 11.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald S. Bulmer sold 2,404 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $90.00, for a total transaction of $216,360.00. Following the transaction, the insider now directly owns 51,350 shares in the company, valued at $4,621,500. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,972 shares of company stock worth $5,964,073. 2.80% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several research firms recently issued reports on PFGC. UBS Group raised their target price on shares of Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price target on shares of Performance Food Group and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Citigroup assumed coverage on shares of Performance Food Group in a research note on Thursday, May 22nd. They set a "buy" rating and a $121.00 price objective for the company. Morgan Stanley increased their target price on Performance Food Group from $92.00 to $93.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Finally, Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $92.00 to $90.00 in a report on Friday, February 7th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Performance Food Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $100.08.
Check Out Our Latest Report on Performance Food Group
Performance Food Group Stock Up 0.0%
NYSE PFGC traded up $0.02 on Thursday, reaching $87.74. The company had a trading volume of 834,663 shares, compared to its average volume of 1,116,295. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The firm has a 50-day moving average of $81.52 and a 200-day moving average of $83.66. The firm has a market capitalization of $13.70 billion, a PE ratio of 35.38, a P/E/G ratio of 0.96 and a beta of 1.13.
Performance Food Group (NYSE:PFGC - Get Free Report) last announced its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.07). The firm had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. Performance Food Group's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.80 earnings per share. On average, equities research analysts anticipate that Performance Food Group will post 4.58 EPS for the current fiscal year.
Performance Food Group Company Profile
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Free Report)
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.
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