The Manufacturers Life Insurance Company Reduces Position in Performance Food Group (NYSE:PFGC)

The Manufacturers Life Insurance Company trimmed its position in Performance Food Group (NYSE:PFGC) by 3.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 124,417 shares of the food distribution company’s stock after selling 4,333 shares during the period. The Manufacturers Life Insurance Company’s holdings in Performance Food Group were worth $9,751,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC raised its position in Performance Food Group by 15.3% during the 1st quarter. Tidal Investments LLC now owns 7,851 shares of the food distribution company’s stock valued at $586,000 after purchasing an additional 1,042 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Performance Food Group by 257.2% in the first quarter. Cetera Investment Advisers now owns 45,851 shares of the food distribution company’s stock valued at $3,422,000 after acquiring an additional 33,015 shares in the last quarter. Cetera Advisors LLC purchased a new position in Performance Food Group during the 1st quarter valued at $546,000. GAMMA Investing LLC raised its holdings in Performance Food Group by 65.2% in the 2nd quarter. GAMMA Investing LLC now owns 884 shares of the food distribution company’s stock worth $58,000 after purchasing an additional 349 shares in the last quarter. Finally, CWM LLC raised its holdings in Performance Food Group by 31.5% in the 2nd quarter. CWM LLC now owns 2,758 shares of the food distribution company’s stock worth $182,000 after purchasing an additional 661 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $88.28, for a total value of $1,809,386.88. Following the completion of the transaction, the insider now owns 192,868 shares of the company’s stock, valued at approximately $17,026,387.04. The trade was a 9.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on PFGC. Morgan Stanley reiterated an “equal weight” rating and set a $92.00 price target on shares of Performance Food Group in a research report on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their target price on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays lifted their price target on Performance Food Group from $88.00 to $98.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. UBS Group increased their price objective on Performance Food Group from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.27.

Performance Food Group Price Performance

Shares of NYSE:PFGC opened at $88.59 on Wednesday. The business has a fifty day moving average price of $82.97 and a 200-day moving average price of $74.16. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. The company has a market capitalization of $13.80 billion, a PE ratio of 32.69, a PEG ratio of 0.95 and a beta of 1.44. Performance Food Group has a 1-year low of $61.60 and a 1-year high of $89.73.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, November 6th. The food distribution company reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.06). The firm had revenue of $15.42 billion for the quarter, compared to the consensus estimate of $15.22 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.15 earnings per share. As a group, equities analysts expect that Performance Food Group will post 4.73 EPS for the current fiscal year.

Performance Food Group 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.