Envestnet Asset Management Inc. Grows Stake in Performance Food Group (NYSE:PFGC)

Envestnet Asset Management Inc. lifted its position in Performance Food Group (NYSE:PFGC) by 7.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 336,373 shares of the food distribution company’s stock after buying an additional 23,019 shares during the period. Envestnet Asset Management Inc. owned approximately 0.22% of Performance Food Group worth $22,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PFGC. Rise Advisors LLC purchased a new position in shares of Performance Food Group in the 1st quarter worth $29,000. Innealta Capital LLC purchased a new position in shares of Performance Food Group in the 2nd quarter worth $30,000. Mather Group LLC. purchased a new position in shares of Performance Food Group in the 1st quarter worth $44,000. GAMMA Investing LLC boosted its stake in shares of Performance Food Group by 65.2% in the 2nd quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after buying an additional 349 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Performance Food Group in the 2nd quarter worth $105,000. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Trading Down 0.0 %

Shares of NYSE PFGC opened at $77.01 on Monday. The business’s 50 day moving average is $70.38 and its two-hundred day moving average is $70.24. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. Performance Food Group has a 1-year low of $52.92 and a 1-year high of $78.54. The stock has a market capitalization of $11.98 billion, a P/E ratio of 28.74, a PEG ratio of 0.82 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last announced its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.08. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. The business had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.25 billion. During the same quarter in the previous year, the business earned $1.14 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Performance Food Group will post 4.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFGC. Truist Financial lifted their target price on Performance Food Group from $86.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group lifted their target price on Performance Food Group from $84.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company lifted their target price on Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Barclays lifted their target price on Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Performance Food Group has an average rating of “Moderate Buy” and an average price target of $86.38.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider George L. Holm sold 63,500 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the completion of the sale, the director now owns 10,184 shares of the company’s stock, valued at approximately $749,644.24. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock worth $7,426,075 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Performance Food Group Profile

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.