Man Group plc Invests $6.56 Million in Performance Food Group Company $PFGC

by · The Markets Daily

Man Group plc acquired a new stake in shares of Performance Food Group Company (NYSE:PFGC – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 58,708 shares of the food distribution company’s stock, valued at approximately $6,563,000.

A number of other large investors also recently bought and sold shares of the company. Capital World Investors lifted its position in shares of Performance Food Group by 1.0% in the 4th quarter. Capital World Investors now owns 22,663,573 shares of the food distribution company’s stock worth $2,037,910,000 after buying an additional 216,720 shares during the last quarter. BlackRock Inc. acquired a new stake in Performance Food Group during the second quarter worth about $1,576,983,000. Wellington Management Group LLP raised its stake in Performance Food Group by 46.2% during the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock worth $646,447,000 after acquiring an additional 1,964,799 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Performance Food Group by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,803,918 shares of the food distribution company’s stock worth $252,207,000 after purchasing an additional 36,031 shares during the last quarter. Finally, Primecap Management Co. CA bought a new position in Performance Food Group during the 2nd quarter worth $305,064,000. Institutional investors own 96.87% of the company’s stock.

Performance Food Group Stock Performance

Shares of NYSE PFGC opened at $100.78 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67. Performance Food Group Company has a one year low of $80.82 and a one year high of $117.47. The business’s 50-day moving average price is $110.04 and its two-hundred day moving average price is $98.59. The company has a market capitalization of $15.88 billion, a P/E ratio of 44.01, a price-to-earnings-growth ratio of 1.30 and a beta of 0.91.

Performance Food Group (NYSE:PFGC – Get Free Report) last posted its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The business had revenue of $18.03 billion for the quarter, compared to analyst estimates of $18.11 billion. During the same period in the previous year, the company earned $0.84 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Analysts anticipate that Performance Food Group Company will post 5.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Chasity D. Grosh sold 643 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $104.42, for a total transaction of $67,142.06. Following the transaction, the insider owned 7,222 shares in the company, valued at approximately $754,121.24. The trade was a 8.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Erika T. Davis sold 1,320 shares of the firm’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total value of $138,982.80. Following the completion of the transaction, the insider directly owned 40,402 shares of the company’s stock, valued at approximately $4,253,926.58. This trade represents a 3.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,391 shares of company stock valued at $6,267,460 over the last ninety days. 4.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PFGC has been the subject of a number of recent analyst reports. Citigroup increased their price objective on Performance Food Group from $143.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Morgan Stanley raised their target price on Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. TD Cowen cut their price target on shares of Performance Food Group from $128.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, August 13th. Finally, Wells Fargo & Company upped their price target on shares of Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.90.

Get Our Latest Report on Performance Food Group

About Performance Food Group

(Free Report)

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.

Further Reading

Want to see what other hedge funds are holding PFGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Performance Food Group Company (NYSE:PFGC – Free Report).