Jennison Associates LLC Raises Stock Holdings in Performance Food Group Company (NYSE:PFGC)

Jennison Associates LLC raised its position in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,688,091 shares of the food distribution company's stock after buying an additional 20,400 shares during the period. Jennison Associates LLC owned about 1.08% of Performance Food Group worth $132,735,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in shares of Performance Food Group during the fourth quarter worth $26,000. CENTRAL TRUST Co boosted its holdings in Performance Food Group by 476.5% in the 1st quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock valued at $39,000 after purchasing an additional 405 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Performance Food Group by 203.7% during the 1st quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock worth $40,000 after acquiring an additional 334 shares during the period. Signaturefd LLC increased its position in Performance Food Group by 60.9% during the 1st quarter. Signaturefd LLC now owns 830 shares of the food distribution company's stock worth $65,000 after purchasing an additional 314 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in Performance Food Group by 353.5% in the 1st quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company's stock valued at $71,000 after acquiring an additional 707 shares during the period. Institutional investors and hedge funds own 96.87% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PFGC. Morgan Stanley increased their target price on shares of Performance Food Group from $93.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Barclays lifted their target price on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a research note 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 research report on Thursday, May 29th. Citigroup assumed coverage on shares of Performance Food Group in a research note on Thursday, May 22nd. They issued a "buy" rating and a $121.00 target price on the stock. Finally, UBS Group boosted their price objective on shares of Performance Food Group from $103.00 to $110.00 and gave the company 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 company. Based on data from MarketBeat.com, Performance Food Group has an average rating of "Moderate Buy" and an average target price of $100.31.

Insider Activity

In other news, insider Craig Howard Hoskins sold 14,285 shares of Performance Food Group stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $83.70, for a total value of $1,195,654.50. Following the completion of the transaction, the insider owned 138,008 shares in the company, valued at approximately $11,551,269.60. This trade represents a 9.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Donald S. Bulmer sold 2,404 shares of Performance Food Group stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $90.00, for a total value of $216,360.00. Following the completion of the transaction, the insider owned 51,350 shares of the company's stock, valued at $4,621,500. The trade was a 4.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,172 shares of company stock worth $7,534,748. 2.80% of the stock is currently owned by corporate insiders.

Performance Food Group Stock Down 0.5%

Shares of PFGC traded down $0.47 during mid-day trading on Friday, hitting $98.66. 1,273,037 shares of the company traded hands, compared to its average volume of 1,140,440. Performance Food Group Company has a 1-year low of $63.24 and a 1-year high of $100.46. The business has a 50 day moving average of $88.65 and a 200 day moving average of $84.22. The company has a quick ratio of 0.73, a current ratio of 1.61 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $15.40 billion, a PE ratio of 41.11, a price-to-earnings-growth ratio of 1.39 and a beta of 1.15.

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 EPS for the quarter, missing the consensus estimate 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 company 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 company posted $0.80 EPS. The company's revenue for the quarter was up 10.5% on a year-over-year basis. Equities research analysts anticipate that Performance Food Group Company will post 4.58 EPS for the current year.

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.