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

The Manufacturers Life Insurance Company trimmed its holdings in shares of Performance Food Group (NYSE:PFGC) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,417 shares of the food distribution company’s stock after selling 4,333 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Performance Food Group worth $9,751,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of PFGC. Harvest Fund Management Co. Ltd increased its holdings in Performance Food Group by 110.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 2,290 shares of the food distribution company’s stock worth $179,000 after buying an additional 1,201 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Performance Food Group by 4.1% during the 3rd quarter. Larson Financial Group LLC now owns 38,063 shares of the food distribution company’s stock worth $2,983,000 after purchasing an additional 1,495 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Performance Food Group by 12.7% in the 3rd quarter. Cerity Partners LLC now owns 61,186 shares of the food distribution company’s stock worth $4,795,000 after purchasing an additional 6,892 shares during the period. Nicolet Advisory Services LLC purchased a new position in Performance Food Group in the third quarter valued at approximately $627,000. Finally, Citigroup Inc. grew its holdings in Performance Food Group by 3.9% during the third quarter. Citigroup Inc. now owns 88,312 shares of the food distribution company’s stock valued at $6,921,000 after purchasing an additional 3,298 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total value of $1,809,386.88. Following the completion of the sale, the insider now directly owns 192,868 shares of the company’s stock, valued at $17,026,387.04. The trade was a 9.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is currently owned by insiders.

Performance Food Group Trading Up 0.4 %

Shares of Performance Food Group stock opened at $88.59 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.70 and a quick ratio of 0.73. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $89.73. The firm has a market cap of $13.80 billion, a PE ratio of 32.69, a PEG ratio of 0.95 and a beta of 1.44. The company has a 50 day simple moving average of $82.97 and a two-hundred day simple moving average of $74.16.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group increased their target price on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Guggenheim lifted their price target on Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley reissued an “equal weight” rating and set a $92.00 price objective on shares of Performance Food Group in a report on Monday, October 28th. Finally, Wells Fargo & Company lifted their target price on Performance Food Group from $83.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $94.27.

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.