Jennison Associates LLC Grows Position in Performance Food Group (NYSE:PFGC)

Jennison Associates LLC grew its stake in Performance Food Group (NYSE:PFGC) by 8.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,667,691 shares of the food distribution company’s stock after buying an additional 125,532 shares during the period. Jennison Associates LLC owned approximately 1.07% of Performance Food Group worth $141,003,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its holdings in Performance Food Group by 3.2% in the 3rd quarter. CIBC Asset Management Inc now owns 4,514 shares of the food distribution company’s stock worth $354,000 after acquiring an additional 139 shares during the last quarter. Creative Planning grew its stake in shares of Performance Food Group by 1.2% in the third quarter. Creative Planning now owns 11,684 shares of the food distribution company’s stock worth $916,000 after purchasing an additional 140 shares during the last quarter. Coldstream Capital Management Inc. increased its holdings in Performance Food Group by 3.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,189 shares of the food distribution company’s stock valued at $329,000 after purchasing an additional 142 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in Performance Food Group by 2.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,088 shares of the food distribution company’s stock valued at $469,000 after purchasing an additional 160 shares during the last quarter. Finally, Highland Capital Management LLC lifted its holdings in Performance Food Group by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 2,915 shares of the food distribution company’s stock worth $246,000 after buying an additional 183 shares during the period. Institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PFGC shares. StockNews.com downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Wells Fargo & Company increased their target price on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Barclays raised their target price on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Tuesday, October 22nd. Truist Financial increased their price objective on Performance Food Group from $88.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, BMO Capital Markets boosted their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and a consensus target price of $94.67.

Insider Transactions at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the completion of the sale, the insider now owns 172,372 shares in the company, valued at approximately $14,582,671.20. This represents a 10.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.80% of the company’s stock.

Performance Food Group Price Performance

Shares of NYSE PFGC opened at $90.38 on Monday. The company has a 50 day moving average of $87.25 and a 200 day moving average of $80.09. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The firm has a market cap of $14.08 billion, a P/E ratio of 33.35, a PEG ratio of 0.97 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business had revenue of $15.42 billion for the quarter, compared to analysts’ expectations of $15.22 billion. During the same period last year, the business earned $1.15 earnings per share. The company’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, research analysts expect that Performance Food Group will post 4.74 EPS for the current fiscal year.

About Performance Food Group

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.