Nuveen Asset Management LLC Purchases 339,024 Shares of Performance Food Group (NYSE:PFGC)

Nuveen Asset Management LLC raised its position in shares of Performance Food Group (NYSE:PFGC) by 61.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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’s holdings in Performance Food Group were worth $75,126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PFGC. JPMorgan Chase & Co. increased its stake in Performance Food Group by 11.8% during 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 in the last quarter. Park Avenue Securities LLC increased its stake 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 purchasing an additional 1,763 shares in the last quarter. Artemis Investment Management LLP increased its stake in Performance Food Group by 121.5% during the 4th quarter. Artemis Investment Management LLP now owns 290,478 shares of the food distribution company’s stock valued at $24,560,000 after purchasing an additional 159,325 shares in the last quarter. UMB Bank n.a. increased its stake in Performance Food Group by 69.1% during the 4th 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 in the last quarter. Finally, Inspire Investing LLC bought a new stake in Performance Food Group during the 4th quarter valued at about $814,000. 96.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays raised their price objective 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. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. Morgan Stanley lifted their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Truist Financial reduced 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. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Performance Food Group currently has an average rating of “Moderate Buy” and an average price target of $95.55.

Insider Activity

In related news, insider Craig Howard Hoskins sold 19,113 shares of the company’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the transaction, the insider now directly owns 152,293 shares in the company, valued at approximately $13,333,252.15. This represents a 11.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Performance Food Group Stock Performance

PFGC opened at $88.01 on Friday. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 0.96 and a beta of 1.13. The company’s 50 day moving average is $78.89 and its 200 day moving average is $83.40. Performance Food Group has a 12-month low of $61.60 and a 12-month high of $92.44.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.07). The business 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 16.58% and a net margin of 0.64%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. On average, equities research analysts predict that Performance Food Group 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.