Assetmark Inc. Sells 17,602 Shares of Performance Food Group Company $PFGC

Assetmark Inc. decreased its holdings in shares of Performance Food Group Company (NYSE:PFGC) by 18.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,842 shares of the food distribution company’s stock after selling 17,602 shares during the quarter. Assetmark Inc. owned 0.05% of Performance Food Group worth $8,307,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PFGC. Goldman Sachs Group Inc. raised its holdings in Performance Food Group by 30.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after buying an additional 184,066 shares during the last quarter. Empowered Funds LLC acquired a new position in Performance Food Group in the first quarter valued at approximately $359,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Performance Food Group in the second quarter valued at $666,000. Ethic Inc. acquired a new position in Performance Food Group during the 2nd quarter worth approximately $1,371,000. Finally, Forum Financial Management LP raised its position in shares of Performance Food Group by 8.3% during the second quarter. Forum Financial Management LP now owns 3,555 shares of the food distribution company’s stock worth $311,000 after purchasing an additional 273 shares during the period. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PFGC shares. UBS Group dropped their target price on shares of Performance Food Group from $120.00 to $108.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Piper Sandler lowered their price objective on Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Guggenheim reaffirmed a “buy” rating on shares of Performance Food Group in a report on Thursday, December 18th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research report on Thursday, February 5th. Finally, Zacks Research downgraded shares of Performance Food Group from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.44.

Performance Food Group Stock Performance

Performance Food Group stock opened at $98.00 on Tuesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60. The company has a market capitalization of $15.37 billion, a PE ratio of 44.55, a P/E/G ratio of 1.38 and a beta of 0.93. The company has a 50 day moving average price of $93.08 and a 200-day moving average price of $97.54. Performance Food Group Company has a fifty-two week low of $68.39 and a fifty-two week high of $109.05.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings results on Wednesday, February 4th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.09). Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The firm had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities analysts forecast that Performance Food Group Company will post 4.58 earnings per share for the current year.

Insider Buying and Selling

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of Performance Food Group stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total transaction of $169,611.29. Following the completion of the sale, the insider directly owned 6,601 shares in the company, valued at approximately $607,490.03. The trade was a 21.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.50% of the stock is currently owned by corporate insiders.

Performance Food Group Profile

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.