Assenagon Asset Management S.A. Has $78.92 Million Position in Performance Food Group (NYSE:PFGC)

Assenagon Asset Management S.A. lifted its position in shares of Performance Food Group (NYSE:PFGC) by 55.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,003,697 shares of the food distribution company’s stock after acquiring an additional 357,153 shares during the period. Assenagon Asset Management S.A. owned approximately 0.64% of Performance Food Group worth $78,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Proficio Capital Partners LLC acquired a new stake in Performance Food Group in the fourth quarter valued at about $2,087,000. KLP Kapitalforvaltning AS bought a new position in shares of Performance Food Group in the fourth quarter worth about $3,697,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Performance Food Group by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,325 shares of the food distribution company’s stock valued at $103,263,000 after purchasing an additional 26,925 shares in the last quarter. LPL Financial LLC grew its holdings in shares of Performance Food Group by 37.1% during the 4th quarter. LPL Financial LLC now owns 93,183 shares of the food distribution company’s stock valued at $7,992,000 after purchasing an additional 25,192 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Performance Food Group by 11.9% during the 4th quarter. HighTower Advisors LLC now owns 9,047 shares of the food distribution company’s stock valued at $765,000 after purchasing an additional 965 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Buying and Selling

In other news, insider A Brent King sold 11,104 shares of Performance Food Group stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $88.69, for a total value of $984,813.76. Following the completion of the sale, the insider now owns 65,952 shares in the company, valued at $5,849,282.88. The trade was a 14.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Craig Howard Hoskins sold 14,285 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $83.70, for a total transaction of $1,195,654.50. Following the transaction, the insider now owns 138,008 shares in the company, valued at $11,551,269.60. The trade was a 9.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,972 shares of company stock valued at $5,964,073 over the last quarter. Insiders own 2.80% of the company’s stock.

Performance Food Group Trading Down 1.2%

Shares of PFGC stock opened at $86.64 on Thursday. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44. 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 stock has a market cap of $13.52 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 0.96 and a beta of 1.18. The stock has a 50-day moving average of $82.52 and a 200-day moving average of $83.76.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share 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 analyst estimates of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.80 EPS. On average, equities research analysts forecast that Performance Food Group will post 4.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PFGC. Morgan Stanley raised their target price 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. Barclays increased their price target 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 raised their price objective on Performance Food Group from $103.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Truist Financial reduced their price objective on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, Citigroup initiated coverage on Performance Food Group in a research report on Thursday, May 22nd. They issued a “buy” rating and a $121.00 target price for the company. Five research 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.08.

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.