Man Group plc reduced its position in Performance Food Group Co (NYSE:PFGC) by 51.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 426,968 shares of the food distribution company’s stock after selling 459,573 shares during the period. Man Group plc’s holdings in Performance Food Group were worth $19,645,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in PFGC. BlackRock Inc. lifted its position in Performance Food Group by 17.2% during the second quarter. BlackRock Inc. now owns 8,872,029 shares of the food distribution company’s stock valued at $355,150,000 after purchasing an additional 1,301,033 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Performance Food Group by 17,407.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,291,894 shares of the food distribution company’s stock worth $51,715,000 after buying an additional 1,284,515 shares in the last quarter. Macquarie Group Ltd. increased its holdings in shares of Performance Food Group by 114.4% in the 2nd quarter. Macquarie Group Ltd. now owns 1,086,874 shares of the food distribution company’s stock worth $43,507,000 after buying an additional 579,844 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Performance Food Group by 142.2% in the 2nd quarter. APG Asset Management N.V. now owns 986,400 shares of the food distribution company’s stock worth $34,673,000 after buying an additional 579,200 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Performance Food Group during the 2nd quarter valued at about $14,178,000. 95.29% of the stock is owned by institutional investors.
Performance Food Group stock opened at $46.69 on Tuesday. The firm has a 50-day moving average price of $44.46 and a 200-day moving average price of $43.40. The firm has a market capitalization of $4.96 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 2.09 and a beta of 0.64. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 2.02. Performance Food Group Co has a 12-month low of $30.07 and a 12-month high of $47.67.
Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.35 by $0.15. Performance Food Group had a net margin of 0.81% and a return on equity of 16.71%. The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same period in the prior year, the firm posted $0.34 EPS. The firm’s revenue was up 37.5% compared to the same quarter last year. As a group, sell-side analysts predict that Performance Food Group Co will post 2.07 earnings per share for the current fiscal year.
In other Performance Food Group news, insider Craig Howard Hoskins sold 14,682 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $44.87, for a total transaction of $658,781.34. Following the completion of the transaction, the insider now owns 121,475 shares in the company, valued at $5,450,583.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is owned by company insiders.
PFGC has been the subject of several recent research reports. ValuEngine upgraded Performance Food Group from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. Zacks Investment Research upgraded Performance Food Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Loop Capital raised their price objective on Performance Food Group to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Buckingham Research raised their price objective on Performance Food Group from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Guggenheim reiterated a “buy” rating and issued a $50.00 target price (up previously from $46.00) on shares of Performance Food Group in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $47.67.
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 in three operating segments: Performance Foodservice, PFG Customized, and Vistar. The company offers a range of frozen foods, including meats, fully prepared appetizers and entrees, fruits, vegetables, and desserts; canned and dry foods; fresh meats; dairy products; beverage products; imported specialties; fresh produce; and candy, snack, and other products, as well as beef, seafood, shortenings and oils, baked goods, salad dressings, teas and cocoas, pork, and others.
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