Envestnet Asset Management Inc. Has $16.62 Million Holdings in Performance Food Group Company $PFGC

Envestnet Asset Management Inc. lessened its stake in Performance Food Group Company (NYSE:PFGC) by 20.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,701 shares of the food distribution company’s stock after selling 42,166 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Performance Food Group were worth $16,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PFGC. Holocene Advisors LP raised its holdings in shares of Performance Food Group by 8.6% during the second quarter. Holocene Advisors LP now owns 3,078,977 shares of the food distribution company’s stock worth $269,318,000 after acquiring an additional 244,793 shares during the period. Primecap Management Co. CA boosted its stake in Performance Food Group by 22.1% in the 2nd quarter. Primecap Management Co. CA now owns 2,571,507 shares of the food distribution company’s stock worth $224,930,000 after purchasing an additional 465,807 shares during the period. Eminence Capital LP increased its holdings in Performance Food Group by 6.7% during the 2nd quarter. Eminence Capital LP now owns 2,250,830 shares of the food distribution company’s stock worth $196,880,000 after purchasing an additional 141,864 shares in the last quarter. Norges Bank acquired a new stake in shares of Performance Food Group in the 2nd quarter valued at about $163,954,000. Finally, Jennison Associates LLC lifted its holdings in shares of Performance Food Group by 10.2% in the second quarter. Jennison Associates LLC now owns 1,860,048 shares of the food distribution company’s stock valued at $162,698,000 after purchasing an additional 171,957 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Analysts Set New Price Targets

PFGC has been the topic of several analyst reports. Zacks Research cut shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Piper Sandler dropped their target price on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. UBS Group reduced their price target on Performance Food Group from $120.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Morgan Stanley lowered their price target on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a report on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $116.44.

Performance Food Group Trading Up 0.0%

PFGC opened at $98.00 on Monday. The stock has a market capitalization of $15.37 billion, a price-to-earnings ratio of 44.55, a P/E/G ratio of 1.38 and a beta of 0.93. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45. Performance Food Group Company has a twelve month low of $68.39 and a twelve month high of $109.05. The company has a 50-day simple moving average of $92.97 and a 200 day simple moving average of $97.56.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.09). Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The company had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. During the same period in the previous year, the company posted $0.98 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts predict that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Insider Buying and Selling at Performance Food Group

In related news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the transaction, the insider directly owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. This represents a 21.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Performance Food Group Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.