Envestnet Asset Management Inc. Sells 1,575 Shares of Performance Food Group (NYSE:PFGC)

Envestnet Asset Management Inc. trimmed its stake in shares of Performance Food Group (NYSE:PFGC) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,357 shares of the food distribution company’s stock after selling 1,575 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Performance Food Group were worth $20,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after purchasing an additional 401,235 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Performance Food Group by 134.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 646,544 shares of the food distribution company’s stock worth $54,665,000 after acquiring an additional 371,078 shares during the last quarter. Jennison Associates LLC increased its position in shares of Performance Food Group by 8.1% in the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock valued at $141,003,000 after acquiring an additional 125,532 shares during the period. Inspire Investing LLC purchased a new position in shares of Performance Food Group in the fourth quarter valued at about $814,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Performance Food Group during the fourth quarter valued at about $2,087,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Up 1.1 %

NYSE:PFGC opened at $76.28 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. The firm’s 50-day moving average price is $79.75 and its 200-day moving average price is $83.32. The company has a market capitalization of $11.92 billion, a PE ratio of 30.76, a P/E/G ratio of 0.96 and a beta of 1.16. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings data on Wednesday, February 5th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. On average, equities analysts predict that Performance Food Group will post 4.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays reduced their price target on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Morgan Stanley upped their target price on Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Melius initiated coverage on shares of Performance Food Group in a report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 price target on the stock. Finally, Melius Research upgraded shares of Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $95.73.

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.