Smith Group Asset Management LLC Has $19.29 Million Stake in Performance Food Group (NYSE:PFGC)

Smith Group Asset Management LLC increased its holdings in shares of Performance Food Group (NYSE:PFGC) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 246,109 shares of the food distribution company’s stock after buying an additional 4,607 shares during the period. Smith Group Asset Management LLC’s holdings in Performance Food Group were worth $19,288,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Atria Investments Inc lifted its stake in shares of Performance Food Group by 79.3% in the 1st quarter. Atria Investments Inc now owns 29,208 shares of the food distribution company’s stock valued at $2,180,000 after purchasing an additional 12,919 shares during the period. Assenagon Asset Management S.A. bought a new position in Performance Food Group during the second quarter worth about $6,843,000. BNP Paribas acquired a new position in shares of Performance Food Group during the 1st quarter worth about $1,251,000. Capstone Investment Advisors LLC acquired a new position in shares of Performance Food Group during the 1st quarter worth about $1,030,000. Finally, Magnetar Financial LLC bought a new stake in shares of Performance Food Group in the 1st quarter valued at about $1,913,000. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Performance Food Group news, Director Kimberly Grant sold 4,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total value of $294,440.00. Following the transaction, the director now directly owns 10,184 shares of the company’s stock, valued at $749,644.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Patrick T. Hagerty sold 8,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the insider now directly owns 162,987 shares in the company, valued at approximately $12,152,310.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimberly Grant sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total transaction of $294,440.00. Following the transaction, the director now directly owns 10,184 shares in the company, valued at approximately $749,644.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock valued at $7,426,075 over the last ninety days. 2.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Performance Food Group from $93.00 to $94.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays lifted their price target 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. StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, August 20th. BMO Capital Markets lifted their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Finally, Morgan Stanley restated an “equal weight” rating and set a $92.00 target price on shares of Performance Food Group in a report on Monday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.88.

Performance Food Group Stock Down 0.6 %

Shares of PFGC stock opened at $82.05 on Tuesday. Performance Food Group has a 52-week low of $55.15 and a 52-week high of $83.70. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 0.83 and a beta of 1.45. The firm’s 50-day moving average is $77.26 and its 200-day moving average is $71.30. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data 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 return on equity of 17.03% and a net margin of 0.75%. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. During the same period last year, the firm posted $1.14 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. Sell-side analysts predict that Performance Food Group will post 4.88 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.