Man Group plc bought a new position in Performance Food Group Company (NYSE:PFGC – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,708 shares of the food distribution company’s stock, valued at approximately $6,563,000.
A number of other large investors also recently bought and sold shares of PFGC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Performance Food Group by 0.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company’s stock worth $3,372,000 after acquiring an additional 121 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Performance Food Group by 3.8% in the first quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company’s stock valued at $285,000 after buying an additional 122 shares in the last quarter. Arax Advisory Partners increased its position in shares of Performance Food Group by 7.4% in the fourth quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company’s stock valued at $184,000 after buying an additional 140 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Performance Food Group by 16.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company’s stock worth $91,000 after buying an additional 143 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its position in shares of Performance Food Group by 6.8% during the 4th quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock valued at $243,000 after buying an additional 173 shares in the last quarter. 96.87% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Performance Food Group news, insider A Brent King sold 1,320 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total value of $138,982.80. Following the sale, the insider owned 44,216 shares of the company’s stock, valued at $4,655,502.64. This represents a 2.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erika T. Davis sold 1,320 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total transaction of $138,982.80. Following the completion of the transaction, the insider directly owned 40,402 shares of the company’s stock, valued at $4,253,926.58. The trade was a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,391 shares of company stock worth $6,267,460 over the last quarter. 4.50% of the stock is owned by company insiders.
Performance Food Group Trading Down 1.3%
Performance Food Group (NYSE:PFGC – Get Free Report) last issued its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The company had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. During the same quarter in the previous year, the company posted $0.84 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, research analysts expect that Performance Food Group Company will post 5.58 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on PFGC shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $133.00 price objective on shares of Performance Food Group in a research report on Thursday, August 13th. TD Cowen lowered their price objective on Performance Food Group from $128.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, August 13th. Barclays boosted their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company upped their price objective on shares of Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.90.
Get Our Latest Report on Performance Food Group
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.
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