Mackenzie Financial Corp Lowers Holdings in Performance Food Group (NYSE:PFGC)

Mackenzie Financial Corp trimmed its position in Performance Food Group (NYSE:PFGC - Free Report) by 34.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,129 shares of the food distribution company's stock after selling 14,821 shares during the quarter. Mackenzie Financial Corp's holdings in Performance Food Group were worth $2,378,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Capital World Investors increased its position in shares of Performance Food Group by 0.7% in the fourth quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company's stock worth $1,849,809,000 after purchasing an additional 157,987 shares during the last quarter. FMR LLC increased its position in shares of Performance Food Group by 0.6% in the fourth quarter. FMR LLC now owns 13,391,257 shares of the food distribution company's stock worth $1,132,231,000 after purchasing an additional 78,855 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Performance Food Group by 154.2% in the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock worth $330,625,000 after purchasing an additional 2,371,818 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Performance Food Group by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company's stock worth $330,560,000 after purchasing an additional 147,080 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of 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. 96.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Erika T. Davis sold 8,200 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $89.72, for a total value of $735,704.00. Following the completion of the transaction, the insider now directly owns 46,722 shares in the company, valued at $4,191,897.84. This trade represents a 14.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider A Brent King sold 12,866 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $90.02, for a total transaction of $1,158,197.32. Following the sale, the insider now directly owns 60,952 shares in the company, valued at $5,486,899.04. The trade was a 17.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,568 shares of company stock valued at $5,747,713 over the last quarter. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

PFGC has been the topic of several research analyst reports. Barclays upped their price objective on shares of Performance Food Group from $100.00 to $112.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley increased their price target on shares of Performance Food Group from $92.00 to $93.00 and gave the company an "equal weight" rating in a research report on Thursday. Piper Sandler cut shares of Performance Food Group from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $92.00 to $90.00 in a research report on Friday, February 7th. Truist Financial reduced 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 research report on Thursday, May 8th. Finally, Citigroup assumed coverage on shares of Performance Food Group in a research report on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target on the stock. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Performance Food Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.08.

Performance Food Group Trading Up 0.3%

Shares of Performance Food Group stock traded up $0.29 on Friday, hitting $89.58. The stock had a trading volume of 1,204,432 shares, compared to its average volume of 1,120,295. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. Performance Food Group has a one year low of $61.60 and a one year high of $92.44. The stock has a market cap of $13.98 billion, a price-to-earnings ratio of 36.12, a PEG ratio of 0.96 and a beta of 1.13. The stock's 50-day simple moving average is $80.86 and its two-hundred day simple moving average is $83.58.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 EPS for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. 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 business earned $0.80 EPS. The business's revenue was up 10.5% compared to the same quarter last year. As a group, sell-side analysts predict that Performance Food Group will post 4.58 EPS for the current year.

About Performance Food Group

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.