Man Group plc Cuts Holdings in Performance Food Group (NYSE:PFGC)

Man Group plc trimmed its holdings in shares of Performance Food Group (NYSE:PFGC) by 45.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,202 shares of the food distribution company’s stock after selling 29,972 shares during the quarter. Man Group plc’s holdings in Performance Food Group were worth $3,061,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company’s stock worth $298,794,000 after purchasing an additional 401,235 shares during the last quarter. Jennison Associates LLC grew its holdings in Performance Food Group by 8.1% in the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock worth $141,003,000 after purchasing an additional 125,532 shares during the last quarter. Inspire Investing LLC purchased a new position in Performance Food Group in the fourth quarter worth $814,000. Proficio Capital Partners LLC purchased a new position in Performance Food Group in the fourth quarter worth $2,087,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Performance Food Group in the fourth quarter worth $3,697,000. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 19,113 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $87.55, for a total value of $1,673,343.15. Following the sale, the insider now directly owns 152,293 shares of the company’s stock, valued at approximately $13,333,252.15. This represents a 11.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.80% of the stock is owned by corporate insiders.

Performance Food Group Price Performance

Shares of PFGC opened at $83.70 on Friday. The firm has a market capitalization of $13.06 billion, a PE ratio of 33.75, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.72. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $92.44. The company’s fifty day moving average price is $79.64 and its 200-day moving average price is $83.52.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.07). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The business had revenue of $15.31 billion during the quarter, compared to analysts’ expectations of $15.41 billion. During the same period in the previous year, the company posted $0.80 earnings per share. Performance Food Group’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that Performance Food Group will post 4.58 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on PFGC. Barclays lifted their price target on shares of Performance Food Group from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $92.00 to $90.00 in a report on Friday, February 7th. Finally, Truist Financial cut their price target on shares of Performance Food Group from $104.00 to $101.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.55.

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.