The Manufacturers Life Insurance Company Has $8.93 Million Stake in Performance Food Group Company $PFGC

The Manufacturers Life Insurance Company grew its holdings in Performance Food Group Company (NYSE:PFGC) by 15.8% in the 1st quarter, Holdings Channel reports. The fund owned 104,201 shares of the food distribution company’s stock after purchasing an additional 14,241 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Performance Food Group were worth $8,926,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Cedar Mountain Advisors LLC acquired a new position in shares of Performance Food Group in the 1st quarter valued at approximately $28,000. Asset Planning Inc acquired a new stake in Performance Food Group during the 1st quarter worth approximately $35,000. Torren Management LLC bought a new position in Performance Food Group in the fourth quarter valued at approximately $41,000. Lloyd Advisory Services LLC. bought a new position in Performance Food Group in the fourth quarter valued at approximately $43,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of Performance Food Group by 132.9% in the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after buying an additional 335 shares during the period. Institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PFGC shares. Barclays increased their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Guggenheim upped their target price on shares of Performance Food Group from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $123.00 target price on shares of Performance Food Group in a report on Thursday, May 7th. Citigroup lifted their price target on Performance Food Group from $135.00 to $143.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their price target on Performance Food Group from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Performance Food Group currently has a consensus rating of “Moderate Buy” and an average target price of $123.82.

Performance Food Group Trading Down 1.9%

Performance Food Group stock opened at $112.22 on Wednesday. The company has a market cap of $17.63 billion, a price-to-earnings ratio of 53.44, a P/E/G ratio of 1.44 and a beta of 0.91. The firm has a 50-day moving average of $107.50 and a 200-day moving average of $97.13. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. Performance Food Group Company has a one year low of $80.82 and a one year high of $117.47.

Performance Food Group (NYSE:PFGC) last released its earnings results on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The business had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $16.17 billion. During the same quarter in the previous year, the business earned $0.79 earnings per share. Performance Food Group’s quarterly revenue was up 6.4% on a year-over-year basis. On average, equities analysts expect that Performance Food Group Company will post 4.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Erika T. Davis sold 2,595 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $110.00, for a total transaction of $285,450.00. Following the sale, the insider owned 40,446 shares in the company, valued at $4,449,060. This represents a 6.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total value of $283,620.00. Following the completion of the sale, the insider directly owned 44,655 shares of the company’s stock, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,187 shares of company stock valued at $3,027,315 in the last ninety days. 4.50% of the stock is owned by company insiders.

About Performance Food Group

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.