California State Teachers Retirement System Has $11.70 Million Holdings in Performance Food Group (NYSE:PFGC)

California State Teachers Retirement System cut its stake in Performance Food Group (NYSE:PFGC) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 156,806 shares of the food distribution company’s stock after selling 9,370 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Performance Food Group worth $11,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PFGC. Point72 Asset Management L.P. boosted its stake in Performance Food Group by 414.1% in the 4th quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock worth $152,011,000 after purchasing an additional 1,770,683 shares during the period. Norges Bank bought a new stake in Performance Food Group during the 4th quarter worth about $119,726,000. Wellington Management Group LLP lifted its position in Performance Food Group by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after buying an additional 397,114 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in Performance Food Group during the 4th quarter worth about $11,410,000. Finally, Primecap Management Co. CA bought a new stake in Performance Food Group during the 4th quarter worth about $11,230,000. 96.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PFGC. Morgan Stanley cut their price target on shares of Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. StockNews.com raised shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th. Finally, Barclays cut their price target on shares of Performance Food Group from $86.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Performance Food Group currently has an average rating of “Moderate Buy” and a consensus target price of $80.57.

Performance Food Group Stock Performance

Shares of PFGC stock traded down $1.14 on Friday, reaching $67.17. The stock had a trading volume of 10,297 shares, compared to its average volume of 1,048,971. The company has a quick ratio of 0.77, a current ratio of 1.64 and a debt-to-equity ratio of 0.96. The firm’s 50-day moving average is $67.01 and its two-hundred day moving average is $70.64. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 0.86 and a beta of 1.42. Performance Food Group has a 12 month low of $52.92 and a 12 month high of $78.54.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Performance Food Group had a net margin of 0.72% and a return on equity of 16.22%. The firm had revenue of $13.86 billion during the quarter, compared to the consensus estimate of $14.10 billion. During the same period in the previous year, the company posted $0.83 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts expect that Performance Food Group will post 4.2 EPS for the current fiscal year.

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.