Envestnet Portfolio Solutions Inc. Trims Position in Performance Food Group Company (NYSE:PFGC)

Envestnet Portfolio Solutions Inc. decreased its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 48.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,791 shares of the food distribution company's stock after selling 3,630 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Performance Food Group were worth $298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors boosted its stake in shares of Performance Food Group by 0.7% in the fourth quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company's stock worth $1,849,809,000 after acquiring an additional 157,987 shares during the period. FMR LLC lifted its holdings in Performance Food Group by 0.6% in the 4th quarter. FMR LLC now owns 13,391,257 shares of the food distribution company's stock worth $1,132,231,000 after purchasing an additional 78,855 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock valued at $330,625,000 after buying an additional 2,371,818 shares in the last quarter. Wellington Management Group LLP grew its holdings in Performance Food Group by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company's stock valued at $330,560,000 after buying an additional 147,080 shares in the last quarter. Finally, Eminence Capital LP raised its position in shares of Performance Food Group by 3.2% during the fourth quarter. Eminence Capital LP now owns 2,579,368 shares of the food distribution company's stock valued at $218,086,000 after buying an additional 79,591 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Craig Howard Hoskins sold 19,113 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the sale, the insider now directly owns 152,293 shares of the company's stock, valued at $13,333,252.15. This trade represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider A Brent King sold 12,866 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $90.02, for a total value of $1,158,197.32. Following the completion of the sale, the insider now owns 60,952 shares in the company, valued at approximately $5,486,899.04. This represents a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,972 shares of company stock valued at $5,964,073 in the last ninety days. Insiders own 2.80% of the company's stock.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $87.50 on Monday. The company has a 50 day moving average price of $85.21 and a 200 day moving average price of $83.49. The firm has a market capitalization of $13.66 billion, a P/E ratio of 36.46, a PEG ratio of 1.44 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. Performance Food Group Company has a 52 week low of $61.60 and a 52 week high of $92.44.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced 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). The firm had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $15.41 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.80 earnings per share. Sell-side analysts expect that Performance Food Group Company will post 4.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PFGC shares. Barclays raised their price target on Performance Food Group from $100.00 to $112.00 and gave the company an "overweight" rating in a report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the company an "overweight" rating in a report on Thursday, May 29th. Morgan Stanley increased their price objective on shares of Performance Food Group from $92.00 to $93.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. UBS Group lifted their price objective on shares of Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Wall Street Zen upgraded shares of Performance Food Group from a "hold" rating to a "buy" rating in a research report on Saturday. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Performance Food Group currently has an average rating of "Moderate Buy" and a consensus price target of $100.08.

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.

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