Assetmark Inc. Increases Holdings in Performance Food Group (NYSE:PFGC)

Assetmark Inc. increased its stake in Performance Food Group (NYSE:PFGC) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,971 shares of the food distribution company’s stock after purchasing an additional 1,850 shares during the quarter. Assetmark Inc.’s holdings in Performance Food Group were worth $5,578,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new position in shares of Performance Food Group in the third quarter valued at $26,000. Venturi Wealth Management LLC grew its position in Performance Food Group by 203.0% during the third quarter. Venturi Wealth Management LLC now owns 409 shares of the food distribution company’s stock worth $32,000 after buying an additional 274 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Performance Food Group during the fourth quarter worth about $42,000. Blue Trust Inc. grew its position in Performance Food Group by 64.6% during the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock worth $42,000 after buying an additional 212 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in Performance Food Group by 51.4% during the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock worth $60,000 after buying an additional 239 shares in the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $84.60, for a total value of $1,733,961.60. Following the completion of the transaction, the insider now directly owns 172,372 shares of the company’s stock, valued at $14,582,671.20. This represents a 10.63 % 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. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PFGC shares. Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Barclays reduced their target price on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. StockNews.com cut Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Melius Research upgraded Performance Food Group to a “hold” rating in a research report on Wednesday, December 18th. Finally, Melius assumed coverage on Performance Food Group in a report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 price objective for the company. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $95.73.

Performance Food Group Stock Down 1.2 %

Shares of Performance Food Group stock opened at $77.80 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 31.37, a P/E/G ratio of 0.96 and a beta of 1.40. The company’s 50 day moving average price is $85.84 and its 200-day moving average price is $82.99.

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

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.