Performance Food Group Company (NYSE:PFGC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 13.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 208,904 shares of the food distribution company's stock after selling 31,453 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.13% of Performance Food Group worth $16,426,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in PFGC. Norges Bank bought a new stake in shares of Performance Food Group during the fourth quarter valued at approximately $164,471,000. Junto Capital Management LP boosted its position in shares of 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 last quarter. Point72 Asset Management L.P. boosted its position in shares of 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 last quarter. Freestone Grove Partners LP purchased a new position in shares of Performance Food Group during the fourth quarter valued at approximately $35,250,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Performance Food Group by 55.2% during the first quarter. Assenagon Asset Management S.A. now owns 1,003,697 shares of the food distribution company's stock valued at $78,921,000 after buying an additional 357,153 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Insider Activity

In other Performance Food Group news, insider Donald S. Bulmer sold 2,404 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $90.00, for a total value of $216,360.00. Following the transaction, the insider directly owned 51,350 shares of the company's stock, valued at $4,621,500. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider A Brent King sold 6,335 shares of the firm's stock in a transaction that occurred on Thursday, July 17th. The stock was sold at an average price of $100.00, for a total transaction of $633,500.00. Following the completion of the transaction, the insider directly owned 61,083 shares in the company, valued at $6,108,300. This trade represents a 9.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,172 shares of company stock worth $7,534,748. Company insiders own 2.80% of the company's stock.

Performance Food Group Stock Performance

NYSE PFGC traded up $0.20 on Monday, hitting $98.98. 1,778,351 shares of the company traded hands, compared to its average volume of 1,144,725. The company has a market capitalization of $15.45 billion, a price-to-earnings ratio of 41.24, a P/E/G ratio of 1.39 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. The business's 50 day moving average price is $88.65 and its 200-day moving average price is $84.22. Performance Food Group Company has a 52-week low of $63.24 and a 52-week high of $100.46.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The firm had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $15.41 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Performance Food Group's quarterly revenue was up 10.5% on a year-over-year basis. Equities analysts expect that Performance Food Group Company will post 4.58 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on PFGC shares. Barclays boosted their target price on Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a research note on Thursday, May 29th. UBS Group boosted their target price on Performance Food Group from $103.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price objective on Performance Food Group and gave the company an "overweight" rating in a research note on Thursday, May 29th. Wall Street Zen lowered Performance Food Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 6th. Finally, Truist Financial decreased their price objective on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $100.31.

Performance Food Group Company 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.