Performance Food Group Company $PFGC Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. has reduced its stake in Performance Food Group Company by 31%, selling 311,115 shares and retaining 692,582 shares, valued at approximately $60.58 million.
• Performance Food Group's recent earnings showed an EPS of $1.55, exceeding estimates, with quarterly revenue of $16.94 billion, reflecting an 11.2% year-over-year increase.
• Over 96% of Performance Food Group's stock is owned by institutional investors, indicating strong market confidence, with several firms recently adjusting their price targets and ratings on the stock.

Assenagon Asset Management S.A. decreased its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 31.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 692,582 shares of the food distribution company's stock after selling 311,115 shares during the quarter. Assenagon Asset Management S.A. owned about 0.44% of Performance Food Group worth $60,580,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC grew its holdings in Performance Food Group by 746.2% in the 1st quarter. SG Americas Securities LLC now owns 11,178 shares of the food distribution company's stock valued at $879,000 after buying an additional 9,857 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Performance Food Group by 6.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,221,430 shares of the food distribution company's stock valued at $174,647,000 after acquiring an additional 137,998 shares in the last quarter. Coppell Advisory Solutions LLC grew its stake in shares of Performance Food Group by 10,786.7% in the first quarter. Coppell Advisory Solutions LLC now owns 9,036 shares of the food distribution company's stock valued at $711,000 after acquiring an additional 8,953 shares in the last quarter. Vident Advisory LLC acquired a new position in shares of Performance Food Group in the first quarter valued at about $462,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Performance Food Group by 5.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,282,070 shares of the food distribution company's stock valued at $100,809,000 after acquiring an additional 60,745 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PFGC. Wells Fargo & Company increased their price target on Performance Food Group from $100.00 to $115.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. UBS Group lifted their price target on shares of Performance Food Group from $110.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Sanford C. Bernstein set a $112.00 target price on Performance Food Group and gave the stock an "overweight" rating in a report on Thursday, May 29th. Morgan Stanley lifted their target price on Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Finally, Truist Financial lifted their price objective on Performance Food Group from $101.00 to $118.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.67.

Performance Food Group Trading Up 0.7%

PFGC traded up $0.76 during trading hours on Tuesday, reaching $104.14. 250,893 shares of the company's stock traded hands, compared to its average volume of 1,386,422. The firm has a market capitalization of $16.30 billion, a PE ratio of 48.06, a PEG ratio of 1.19 and a beta of 1.10. Performance Food Group Company has a 52-week low of $68.39 and a 52-week high of $109.05. The company has a quick ratio of 0.72, a current ratio of 1.58 and a debt-to-equity ratio of 1.51. The firm has a 50-day moving average price of $101.34 and a 200 day moving average price of $89.24.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings data on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. Performance Food Group had a net margin of 0.54% and a return on equity of 16.23%. The company had revenue of $16.94 billion during the quarter, compared to analysts' expectations of $16.85 billion. During the same period in the previous year, the company earned $1.45 EPS. The firm's quarterly revenue was up 11.2% on a year-over-year basis. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. As a group, sell-side analysts predict that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider A Brent King sold 9,136 shares of Performance Food Group stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $100.51, for a total transaction of $918,259.36. Following the completion of the transaction, the insider directly owned 66,540 shares of the company's stock, valued at $6,687,935.40. The trade was a 12.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald S. Bulmer sold 4,348 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $100.52, for a total transaction of $437,060.96. Following the completion of the sale, the insider directly owned 58,526 shares of the company's stock, valued at approximately $5,883,033.52. This trade represents a 6.92% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,968 shares of company stock worth $5,944,596. Corporate insiders own 2.80% of the company's stock.

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.