New York State Teachers Retirement System Buys 8,112 Shares of Performance Food Group Company $PFGC

New York State Teachers Retirement System increased its position in Performance Food Group Company (NYSE:PFGC) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,399 shares of the food distribution company’s stock after buying an additional 8,112 shares during the period. New York State Teachers Retirement System owned 0.11% of Performance Food Group worth $15,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PFGC. Goldman Sachs Group Inc. raised its position in shares of Performance Food Group by 9.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,400,934 shares of the food distribution company’s stock worth $125,972,000 after purchasing an additional 121,202 shares during the period. Maven Securities LTD bought a new position in shares of Performance Food Group in the 3rd quarter worth $2,589,000. Assenagon Asset Management S.A. grew its position in Performance Food Group by 10.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 490,701 shares of the food distribution company’s stock valued at $44,124,000 after purchasing an additional 45,867 shares during the period. Capital World Investors grew its position in Performance Food Group by 0.8% in the 3rd quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company’s stock valued at $2,335,371,000 after purchasing an additional 185,624 shares during the period. Finally, Kennedy Capital Management LLC increased its stake in Performance Food Group by 7.3% during the 4th quarter. Kennedy Capital Management LLC now owns 207,351 shares of the food distribution company’s stock valued at $18,645,000 after purchasing an additional 14,173 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Erika T. Davis sold 2,595 shares of the 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 completion of the sale, the insider directly owned 40,446 shares of the company’s stock, valued at approximately $4,449,060. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider A Brent King sold 6,111 shares of Performance Food Group stock in a transaction 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 sale, the insider owned 44,260 shares in the company, valued at $4,647,300. This trade represents a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,187 shares of company stock worth $3,027,315 in the last quarter. 4.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PFGC shares. Guggenheim raised their price objective on shares of Performance Food Group from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, June 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday, June 24th. Citigroup upped their target price on shares of Performance Food Group from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Barclays raised their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Zacks Research raised Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $112.96 on Friday. The firm has a 50-day moving average of $98.66 and a 200-day moving average of $93.72. The company has a market cap of $17.75 billion, a P/E ratio of 53.79, a P/E/G ratio of 1.41 and a beta of 0.91. 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 $113.17.

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

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.