Assenagon Asset Management S.A. Acquires 357,153 Shares of Performance Food Group (NYSE:PFGC)

Assenagon Asset Management S.A. grew its stake in Performance Food Group (NYSE:PFGC - Free Report) by 55.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,003,697 shares of the food distribution company's stock after buying an additional 357,153 shares during the period. Assenagon Asset Management S.A. owned 0.64% of Performance Food Group worth $78,921,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in shares of Performance Food Group by 154.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock worth $330,625,000 after purchasing an additional 2,371,818 shares during the last quarter. Norges Bank acquired a new stake in Performance Food Group during the fourth quarter valued at $164,471,000. Junto Capital Management LP grew its position in Performance Food Group by 419.9% during the fourth quarter. Junto Capital Management LP now owns 1,406,080 shares of the food distribution company's stock valued at $118,884,000 after buying an additional 1,135,641 shares during the period. Point72 Asset Management L.P. grew its position in Performance Food Group by 30.9% during the fourth quarter. Point72 Asset Management L.P. now owns 2,111,242 shares of the food distribution company's stock valued at $178,506,000 after buying an additional 498,554 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in Performance Food Group during the fourth quarter valued at $35,250,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Price Performance

PFGC traded down $1.38 during midday trading on Friday, reaching $86.12. 627,108 shares of the company's stock were exchanged, compared to its average volume of 1,121,215. The stock has a market capitalization of $13.44 billion, a PE ratio of 34.73, a P/E/G ratio of 0.96 and a beta of 1.18. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The business's 50-day moving average price is $83.12 and its 200 day moving average price is $83.71.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The business had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. During the same period in the previous year, the company earned $0.80 EPS. Performance Food Group's revenue was up 10.5% on a year-over-year basis. As a group, equities analysts anticipate that Performance Food Group will post 4.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on PFGC shares. Barclays lifted their target price on shares of Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" 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 report on Thursday, May 29th. Citigroup initiated coverage on shares of Performance Food Group in a research report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target on the stock. Truist Financial lowered their price target on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, UBS Group boosted their price target 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. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $100.08.

Insiders Place Their Bets

In other news, insider Craig Howard Hoskins sold 14,285 shares of Performance Food Group stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $83.70, for a total value of $1,195,654.50. Following the transaction, the insider now owns 138,008 shares of the company's stock, valued at $11,551,269.60. The trade was a 9.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider A Brent King sold 12,866 shares of Performance Food Group stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $90.02, for a total transaction of $1,158,197.32. Following the completion of the transaction, the insider now directly owns 60,952 shares in the company, valued at $5,486,899.04. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,972 shares of company stock worth $5,964,073. Insiders own 2.80% of the company's stock.

Performance Food Group 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.