Performance Food Group Company (NYSE:PFGC) Shares Bought by Jennison Associates LLC

Jennison Associates LLC increased its stake in shares of Performance Food Group Company (NYSE:PFGC) by 1.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,688,091 shares of the food distribution company’s stock after buying an additional 20,400 shares during the quarter. Jennison Associates LLC owned about 1.08% of Performance Food Group worth $132,735,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in Performance Food Group during the 4th quarter worth $2,087,000. HighTower Advisors LLC raised its position in Performance Food Group by 11.9% in the fourth quarter. HighTower Advisors LLC now owns 9,047 shares of the food distribution company’s stock worth $765,000 after acquiring an additional 965 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in Performance Food Group in the fourth quarter valued at $230,000. Xponance Inc. grew its holdings in Performance Food Group by 9.0% in the fourth quarter. Xponance Inc. now owns 20,416 shares of the food distribution company’s stock valued at $1,726,000 after purchasing an additional 1,690 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Performance Food Group during the fourth quarter valued at $26,000. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analyst Upgrades and Downgrades

PFGC has been the topic of a number of research analyst reports. UBS Group raised their price target on Performance Food Group from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Barclays raised their price objective on Performance Food Group from $100.00 to $112.00 and gave the stock an “overweight” rating in a report on Thursday, May 29th. Citigroup started coverage on Performance Food Group in a report on Thursday, May 22nd. They issued a “buy” rating and a $121.00 price objective on the stock. Wall Street Zen downgraded Performance Food Group from a “buy” rating to a “hold” rating in a report on Sunday, July 6th. Finally, Truist Financial cut their price objective on Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Donald S. Bulmer sold 2,404 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was 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. This represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Erika T. Davis sold 8,200 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total value of $735,704.00. Following the completion of the transaction, the insider directly owned 46,722 shares of the company’s stock, valued at approximately $4,191,897.84. The trade was a 14.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,837 shares of company stock valued at $6,901,248. Corporate insiders own 2.80% of the company’s stock.

Performance Food Group Stock Down 0.9%

PFGC opened at $98.97 on Friday. Performance Food Group Company has a one year low of $63.24 and a one year high of $100.46. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 1.61. The stock’s fifty day moving average is $88.36 and its 200-day moving average is $84.12. The company has a market capitalization of $15.45 billion, a PE ratio of 41.41, a P/E/G ratio of 1.40 and a beta of 1.15.

Performance Food Group (NYSE:PFGC) last announced its earnings results 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 company had revenue of $15.31 billion for the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a return on equity of 16.17% and a net margin of 0.61%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. On average, equities analysts predict that Performance Food Group Company will post 4.58 EPS for the current fiscal 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.