Man Group plc Sells 29,972 Shares of Performance Food Group (NYSE:PFGC)

Man Group plc lowered its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 45.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,202 shares of the food distribution company's stock after selling 29,972 shares during the period. Man Group plc's holdings in Performance Food Group were worth $3,061,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of Performance Food Group by 0.7% during the fourth quarter. Capital World Investors now owns 21,878,285 shares of the food distribution company's stock valued at $1,849,809,000 after acquiring an additional 157,987 shares during the period. FMR LLC lifted its position in Performance Food Group by 0.6% during the 4th quarter. FMR LLC now owns 13,391,257 shares of the food distribution company's stock worth $1,132,231,000 after buying an additional 78,855 shares in the last quarter. Victory Capital Management Inc. lifted its position in Performance Food Group by 154.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company's stock worth $330,625,000 after buying an additional 2,371,818 shares in the last quarter. Wellington Management Group LLP lifted its position in Performance Food Group by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 3,909,635 shares of the food distribution company's stock worth $330,560,000 after buying an additional 147,080 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Performance Food Group by 11.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after buying an additional 401,235 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Insider Activity at Performance Food Group

In other news, insider Craig Howard Hoskins sold 14,285 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $83.70, for a total transaction of $1,195,654.50. Following the completion of the transaction, the insider now directly owns 138,008 shares of the company's stock, valued at $11,551,269.60. This trade represents a 9.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Performance Food Group Trading Up 1.8%

Performance Food Group stock traded up $1.55 during trading hours on Tuesday, reaching $86.21. 438,026 shares of the company's stock traded hands, compared to its average volume of 1,107,377. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44. The firm has a market capitalization of $13.46 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 0.96 and a beta of 1.13. The firm's 50 day moving average is $79.94 and its 200-day moving average is $83.49.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). The firm had revenue of $15.31 billion during the quarter, compared to analyst estimates of $15.41 billion. Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The business's revenue was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, analysts predict that Performance Food Group will post 4.58 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on PFGC shares. Barclays upped their price target on shares of Performance Food Group from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Piper Sandler downgraded shares of Performance Food Group from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $92.00 to $90.00 in a research report on Friday, February 7th. Citigroup started coverage on shares of Performance Food Group in a research report on Thursday. They set a "buy" rating on the stock. Finally, 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. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Performance Food Group currently has an average rating of "Moderate Buy" and a consensus price target of $95.55.

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.