Performance Food Group Company $PFGC Shares Sold by Assetmark Inc.

Assetmark Inc. lessened its position in Performance Food Group Company (NYSE:PFGC) by 18.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,842 shares of the food distribution company’s stock after selling 17,602 shares during the quarter. Assetmark Inc.’s holdings in Performance Food Group were worth $8,307,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in Performance Food Group by 51.3% in the second quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after acquiring an additional 123 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of Performance Food Group during the 3rd quarter worth about $39,000. AlphaQuest LLC lifted its position in Performance Food Group by 658.0% in the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock valued at $33,000 after buying an additional 329 shares during the last quarter. Eastern Bank purchased a new position in Performance Food Group during the third quarter worth about $47,000. Finally, Golden State Wealth Management LLC increased its position in shares of Performance Food Group by 148.6% during the second quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock valued at $46,000 after acquiring an additional 312 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Performance Food Group Stock Up 0.0%

Shares of NYSE:PFGC opened at $98.00 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 0.68 and a debt-to-equity ratio of 1.45. The firm has a 50 day simple moving average of $93.08 and a 200-day simple moving average of $97.54. The company has a market capitalization of $15.37 billion, a PE ratio of 44.55, a P/E/G ratio of 1.38 and a beta of 0.93. Performance Food Group Company has a twelve month low of $68.39 and a twelve month high of $109.05.

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 (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.09). The company had revenue of $16.44 billion during the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. On average, equities analysts predict that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Sanford C. Bernstein restated an “outperform” rating on shares of Performance Food Group in a report on Thursday, February 5th. Citigroup lowered their price objective on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Barclays cut their target price on shares of Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. UBS Group decreased their price target on shares of 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. Finally, Piper Sandler cut their price objective on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Nine analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.44.

Insider Activity

In related news, insider Chasity D. Grosh sold 1,843 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total transaction of $169,611.29. Following the sale, the insider owned 6,601 shares of the company’s stock, valued at approximately $607,490.03. The trade was a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is owned by corporate insiders.

About Performance Food Group

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.