California Public Employees Retirement System Decreases Stock Holdings in Performance Food Group Company $PFGC

California Public Employees Retirement System reduced its holdings in Performance Food Group Company (NYSE:PFGC) by 2.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,311 shares of the food distribution company’s stock after selling 4,816 shares during the period. California Public Employees Retirement System owned approximately 0.14% of Performance Food Group worth $19,214,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PFGC. Goldman Sachs Group Inc. raised its position in Performance Food Group by 30.3% during the first quarter. Goldman Sachs Group Inc. now owns 791,881 shares of the food distribution company’s stock valued at $62,266,000 after purchasing an additional 184,066 shares during the period. Empowered Funds LLC purchased a new position in shares of Performance Food Group in the 1st quarter worth approximately $359,000. EverSource Wealth Advisors LLC increased its position in shares of Performance Food Group by 440.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 659 shares of the food distribution company’s stock valued at $58,000 after purchasing an additional 537 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Performance Food Group during the 2nd quarter valued at approximately $230,000. Finally, Qube Research & Technologies Ltd raised its holdings in Performance Food Group by 499.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 328,849 shares of the food distribution company’s stock valued at $28,764,000 after buying an additional 273,997 shares during the period. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Trading Down 1.0%

PFGC stock opened at $110.23 on Friday. The company has a market capitalization of $17.32 billion, a PE ratio of 52.49, a P/E/G ratio of 1.40 and a beta of 0.91. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $116.42. The firm’s 50-day moving average is $104.37 and its 200 day moving average is $95.75. 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 (NYSE:PFGC) last released its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.03. The company had revenue of $16.29 billion during the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a net margin of 0.49% and a return on equity of 15.33%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 EPS. On average, research analysts anticipate that Performance Food Group Company will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PFGC shares. Morgan Stanley boosted their price objective on shares of Performance Food Group from $120.00 to $131.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Barclays lifted their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $123.00 price objective on shares of Performance Food Group in a research report on Thursday, May 7th. Citigroup raised their price objective on shares of Performance Food Group from $135.00 to $143.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Guggenheim boosted their target price on Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.82.

Insider Transactions at Performance Food Group

In related news, insider Hugh Patrick Hatcher sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $94.54, for a total value of $283,620.00. Following the completion of the sale, the insider owned 44,655 shares in the company, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider A Brent King sold 6,111 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $105.00, for a total value of $641,655.00. Following the completion of the transaction, the insider directly owned 44,260 shares in the company, valued at approximately $4,647,300. This trade represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,187 shares of company stock worth $3,027,315 over the last three months. Company insiders own 4.50% of the company’s stock.

Performance Food Group Profile

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.