Performance Food Group Company (NYSE:PFGC) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 46.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 15,113 shares of the food distribution company's stock after selling 13,016 shares during the period. Mackenzie Financial Corp's holdings in Performance Food Group were worth $1,188,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in PFGC. SG Americas Securities LLC lifted its position in Performance Food Group by 746.2% in the first quarter. SG Americas Securities LLC now owns 11,178 shares of the food distribution company's stock valued at $879,000 after purchasing an additional 9,857 shares during the period. UMB Bank n.a. raised its stake in shares of Performance Food Group by 52.6% during the 1st quarter. UMB Bank n.a. now owns 1,169 shares of the food distribution company's stock worth $92,000 after buying an additional 403 shares in the last quarter. Ground Swell Capital LLC purchased a new position in shares of Performance Food Group during the 4th quarter worth approximately $659,000. Signaturefd LLC lifted its holdings in shares of Performance Food Group by 60.9% in the 1st quarter. Signaturefd LLC now owns 830 shares of the food distribution company's stock valued at $65,000 after buying an additional 314 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Performance Food Group by 30.9% in the fourth quarter. Point72 Asset Management L.P. now owns 2,111,242 shares of the food distribution company's stock valued at $178,506,000 after buying an additional 498,554 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Insiders Place Their Bets

In other Performance Food Group news, insider A Brent King sold 12,866 shares of the stock in a transaction on 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 transaction, the insider owned 60,952 shares of the company's stock, valued at $5,486,899.04. This represents a 17.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Erika T. Davis sold 8,200 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total value of $735,704.00. Following the sale, the insider owned 46,722 shares in the company, valued at $4,191,897.84. This trade represents a 14.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 84,172 shares of company stock valued at $7,534,748. 2.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PFGC has been the subject of several research analyst reports. UBS Group increased their price objective on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Sanford C. Bernstein set a $112.00 price target on shares of Performance Food Group and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Morgan Stanley increased their price target on shares of Performance Food Group from $93.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Truist Financial decreased their price objective 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. Finally, Citigroup initiated coverage on shares of Performance Food Group in a research report on Thursday, May 22nd. They set a "buy" rating and a $121.00 target price on the stock. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $100.31.

Performance Food Group Price Performance

Shares of NYSE:PFGC traded down $1.44 on Friday, hitting $96.79. The company had a trading volume of 888,434 shares, compared to its average volume of 1,292,752. The company has a current ratio of 1.61, a quick ratio of 0.73 and a debt-to-equity ratio of 1.49. The company has a market cap of $15.11 billion, a PE ratio of 40.35, a PEG ratio of 1.36 and a beta of 1.20. Performance Food Group Company has a 52-week low of $64.15 and a 52-week high of $103.50. The business has a 50 day moving average of $91.98 and a 200 day moving average of $85.48.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) 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 analysts' expectations of $15.41 billion. Performance Food Group had a net margin of 0.61% and a return on equity of 16.17%. Performance Food Group's revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $0.80 earnings per share. As a group, equities analysts anticipate that Performance Food Group Company will post 4.58 earnings per share for the current fiscal year.

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.