Assenagon Asset Management S.A. Buys 171,953 Shares of Performance Food Group (NYSE:PFGC)

Assenagon Asset Management S.A. raised its position in Performance Food Group (NYSE:PFGC) by 166.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 275,466 shares of the food distribution company’s stock after purchasing an additional 171,953 shares during the period. Assenagon Asset Management S.A. owned approximately 0.18% of Performance Food Group worth $21,588,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PFGC. Primecap Management Co. CA increased its position in shares of Performance Food Group by 223.4% in the 2nd quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock valued at $107,447,000 after buying an additional 1,122,676 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Performance Food Group by 27.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after acquiring an additional 469,500 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Performance Food Group by 27.8% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock worth $113,093,000 after buying an additional 372,218 shares during the period. Eminence Capital LP lifted its stake in Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after buying an additional 164,472 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC boosted its holdings in shares of Performance Food Group by 574.6% in the second quarter. Susquehanna Fundamental Investments LLC now owns 173,381 shares of the food distribution company’s stock valued at $11,462,000 after buying an additional 147,681 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Stock Performance

NYSE PFGC opened at $82.58 on Friday. The firm has a market capitalization of $12.87 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The firm’s fifty day moving average price is $76.91 and its two-hundred day moving average price is $71.15. Performance Food Group has a 1 year low of $54.71 and a 1 year high of $83.70.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.25 billion. During the same period in the prior year, the firm earned $1.14 EPS. Performance Food Group’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that Performance Food Group will post 4.88 EPS for the current year.

Insider Buying and Selling at Performance Food Group

In other news, insider George L. Holm sold 63,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. This represents a 0.00 % decrease in their ownership of the stock. 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 company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimberly Grant sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction of $294,440.00. Following the sale, the director now owns 10,184 shares of the company’s stock, valued at $749,644.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock valued at $7,426,075 in the last quarter. 2.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PFGC has been the topic of a number of research analyst reports. Barclays raised their price objective on shares of Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday. Morgan Stanley dropped their target price on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. Wells Fargo & Company boosted their target price on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, BMO Capital Markets boosted their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.88.

Performance Food Group Company 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.