Retirement Systems of Alabama Decreases Position in Performance Food Group (NYSE:PFGC)

Retirement Systems of Alabama reduced its stake in Performance Food Group (NYSE:PFGC) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 290,803 shares of the food distribution company’s stock after selling 2,758 shares during the period. Retirement Systems of Alabama owned 0.19% of Performance Food Group worth $22,790,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Performance Food Group by 26.3% in the 3rd quarter. FMR LLC now owns 13,312,402 shares of the food distribution company’s stock valued at $1,043,293,000 after buying an additional 2,773,547 shares during the last quarter. Primecap Management Co. CA boosted its stake in Performance Food Group by 223.4% in the second quarter. Primecap Management Co. CA now owns 1,625,280 shares of the food distribution company’s stock valued at $107,447,000 after acquiring an additional 1,122,676 shares in the last quarter. Holocene Advisors LP grew its holdings in shares of Performance Food Group by 32.0% during the third quarter. Holocene Advisors LP now owns 2,988,053 shares of the food distribution company’s stock worth $234,174,000 after purchasing an additional 724,094 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Performance Food Group by 27.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,150,291 shares of the food distribution company’s stock worth $142,170,000 after purchasing an additional 469,500 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Performance Food Group by 27.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,710,679 shares of the food distribution company’s stock valued at $113,093,000 after purchasing an additional 372,218 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Insiders Place Their Bets

In other Performance Food Group news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total value of $1,809,386.88. Following the completion of the transaction, the insider now directly owns 192,868 shares of the company’s stock, valued at approximately $17,026,387.04. This trade represents a 9.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PFGC. Guggenheim raised their price target on Performance Food Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley restated an “equal weight” rating and set a $92.00 target price on shares of Performance Food Group in a research report on Monday, October 28th. Piper Sandler upped their price target on shares of Performance Food Group from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Wells Fargo & Company raised their price objective on shares of Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets upped their target price on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.27.

Performance Food Group Trading Up 0.5 %

NYSE PFGC opened at $88.65 on Friday. Performance Food Group has a 52-week low of $61.60 and a 52-week high of $92.44. The firm has a 50-day moving average price of $84.72 and a 200 day moving average price of $75.18. The stock has a market capitalization of $13.81 billion, a P/E ratio of 32.71, a P/E/G ratio of 0.96 and a beta of 1.44. The company has a quick ratio of 0.73, a current ratio of 1.70 and a debt-to-equity ratio of 1.12.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, November 6th. The food distribution company reported $1.16 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.06). Performance Food Group had a net margin of 0.72% and a return on equity of 16.66%. The business had revenue of $15.42 billion during the quarter, compared to analyst estimates of $15.22 billion. During the same period in the prior year, the business earned $1.15 earnings per share. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts expect that Performance Food Group will post 4.73 EPS for the current year.

Performance Food Group 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.