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

Mackenzie Financial Corp increased its position in shares of Performance Food Group (NYSE:PFGC) by 1,006.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,551 shares of the food distribution company’s stock after purchasing an additional 71,451 shares during the period. Mackenzie Financial Corp owned 0.05% of Performance Food Group worth $5,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors grew its stake in shares of Performance Food Group by 0.5% during the first quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock worth $1,606,782,000 after purchasing an additional 100,244 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Performance Food Group by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after purchasing an additional 397,114 shares in the last quarter. Eminence Capital LP boosted its stake in Performance Food Group by 7.4% in the second quarter. Eminence Capital LP now owns 2,398,614 shares of the food distribution company’s stock valued at $158,572,000 after acquiring an additional 164,472 shares in the last quarter. Jennison Associates LLC boosted its stake in Performance Food Group by 2.5% in the first quarter. Jennison Associates LLC now owns 2,349,714 shares of the food distribution company’s stock valued at $175,383,000 after acquiring an additional 56,242 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in Performance Food Group by 414.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after acquiring an additional 1,770,683 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insider Buying and Selling

In related news, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Patrick T. Hagerty sold 8,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the insider now directly owns 162,987 shares of the company’s stock, valued at $12,152,310.72. The disclosure for this sale can be found here. Insiders sold 100,500 shares of company stock valued at $7,426,075 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Performance Food Group Price Performance

Shares of PFGC opened at $78.19 on Wednesday. Performance Food Group has a fifty-two week low of $52.92 and a fifty-two week high of $79.59. The company has a market capitalization of $12.17 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 0.85 and a beta of 1.44. The firm has a 50-day simple moving average of $72.10 and a 200-day simple moving average of $70.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.76 and a current ratio of 1.64.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.25 billion. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 earnings per share. On average, equities research analysts anticipate that Performance Food Group will post 4.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PFGC. Morgan Stanley decreased their price objective on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Wells Fargo & Company upped their price objective on shares of Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Jefferies Financial Group upped their price objective on shares of Performance Food Group from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Barclays upped their price objective on shares of Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.00.

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.