Man Group plc Has $3.06 Million Stock Position in Performance Food Group (NYSE:PFGC)

Man Group plc trimmed its position in Performance Food Group (NYSE:PFGC - Free Report) by 45.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PFGC. Millstone Evans Group LLC bought a new stake in shares of Performance Food Group in the 4th quarter valued at approximately $26,000. Blue Trust Inc. grew its position in Performance Food Group by 64.6% in the fourth quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock valued at $42,000 after acquiring an additional 212 shares during the period. V Square Quantitative Management LLC raised its stake in Performance Food Group by 51.4% during the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock worth $60,000 after acquiring an additional 239 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Performance Food Group by 69.1% during the fourth quarter. UMB Bank n.a. now owns 766 shares of the food distribution company's stock valued at $65,000 after acquiring an additional 313 shares during the period. Finally, J.Safra Asset Management Corp boosted its stake in shares of Performance Food Group by 40.8% in the 4th quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company's stock valued at $66,000 after purchasing an additional 226 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Trading Up 3.3%

NYSE PFGC traded up $2.82 during trading hours on Wednesday, hitting $88.97. The company's stock had a trading volume of 420,393 shares, compared to its average volume of 1,223,344. Performance Food Group has a twelve month low of $61.60 and a twelve month high of $92.44. The firm has a market capitalization of $13.89 billion, a P/E ratio of 35.87, a PEG ratio of 0.96 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 1.67 and a debt-to-equity ratio of 1.56. The stock has a fifty day moving average of $80.15 and a 200 day moving average of $83.51.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.07). The company had revenue of $15.31 billion during the quarter, compared to the consensus estimate of $15.41 billion. Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. The firm's revenue for the quarter 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. Equities research analysts forecast that Performance Food Group will post 4.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Craig Howard Hoskins sold 14,285 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $83.70, for a total value of $1,195,654.50. Following the completion of the sale, the insider now owns 138,008 shares in the company, valued at $11,551,269.60. This represents a 9.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.80% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PFGC shares. Barclays increased their target price 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. Truist Financial reduced their target price on Performance Food Group from $104.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Piper Sandler cut Performance Food Group from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $92.00 to $90.00 in a report on Friday, February 7th. Finally, Citigroup initiated coverage on Performance Food Group in a research note on Thursday, May 22nd. They issued a "buy" rating on the stock. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, Performance Food Group presently has a consensus rating of "Moderate Buy" and a consensus target price 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.