Nuveen Asset Management LLC Raises Holdings in Performance Food Group (NYSE:PFGC)

Nuveen Asset Management LLC lifted its stake in shares of Performance Food Group (NYSE:PFGC - Free Report) by 61.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 888,534 shares of the food distribution company's stock after purchasing an additional 339,024 shares during the quarter. Nuveen Asset Management LLC owned about 0.57% of Performance Food Group worth $75,126,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in Performance Food Group by 11.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock valued at $298,794,000 after purchasing an additional 401,235 shares during the last quarter. Park Avenue Securities LLC raised its holdings in Performance Food Group by 20.1% during the 4th quarter. Park Avenue Securities LLC now owns 10,537 shares of the food distribution company's stock valued at $891,000 after acquiring an additional 1,763 shares during the period. Artemis Investment Management LLP boosted its position in Performance Food Group by 121.5% during the fourth quarter. Artemis Investment Management LLP now owns 290,478 shares of the food distribution company's stock valued at $24,560,000 after buying an additional 159,325 shares during the period. UMB Bank n.a. lifted its holdings in shares of Performance Food Group by 69.1% during the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company's stock valued at $65,000 after purchasing an additional 313 shares during the last quarter. Finally, Inspire Investing LLC bought a new stake in Performance Food Group in the 4th quarter worth approximately $814,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Performance Food Group

In related news, insider Craig Howard Hoskins sold 19,113 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $87.55, for a total value of $1,673,343.15. Following the transaction, the insider now owns 152,293 shares of the company's stock, valued at $13,333,252.15. This 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 through the SEC website. 2.80% of the stock is owned by company insiders.

Performance Food Group Price Performance

Shares of PFGC stock traded down $2.84 during trading hours on Wednesday, hitting $84.67. 1,054,516 shares of the company's stock were exchanged, compared to its average volume of 1,107,128. The firm has a market cap of $13.22 billion, a P/E ratio of 34.14, a P/E/G ratio of 0.96 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The firm has a 50 day moving average of $79.34 and a two-hundred day moving average of $83.49.

Performance Food Group (NYSE:PFGC - Get Free Report) last released 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). The firm had revenue of $15.31 billion for the quarter, compared to the consensus estimate of $15.41 billion. Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The company's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. Sell-side analysts forecast that Performance Food Group will post 4.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays raised their target price on shares of Performance Food Group from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Truist Financial dropped their price target on shares of Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Finally, Morgan Stanley boosted their price objective on Performance Food Group from $94.00 to $96.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.55.

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.