State Board of Administration of Florida Retirement System Increases Stock Position in Performance Food Group (NYSE:PFGC)

State Board of Administration of Florida Retirement System increased its position in shares of Performance Food Group (NYSE:PFGC) by 21.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 103,618 shares of the food distribution company’s stock after buying an additional 18,230 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Performance Food Group were worth $6,252,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of PFGC. Utah Retirement Systems raised its stake in shares of Performance Food Group by 2.5% during the 4th quarter. Utah Retirement Systems now owns 8,200 shares of the food distribution company’s stock worth $479,000 after buying an additional 200 shares during the period. Toroso Investments LLC lifted its holdings in Performance Food Group by 5.1% during the third quarter. Toroso Investments LLC now owns 5,276 shares of the food distribution company’s stock valued at $227,000 after purchasing an additional 254 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Performance Food Group by 130.0% during the first quarter. Fifth Third Bancorp now owns 460 shares of the food distribution company’s stock valued at $28,000 after purchasing an additional 260 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Performance Food Group by 0.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 70,326 shares of the food distribution company’s stock worth $4,243,000 after purchasing an additional 295 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of Performance Food Group by 13.7% during the first quarter. Captrust Financial Advisors now owns 2,520 shares of the food distribution company’s stock worth $128,000 after purchasing an additional 304 shares in the last quarter. Hedge funds and other institutional investors own 96.64% of the company’s stock.

Insider Activity at Performance Food Group

In related news, insider Patrick T. Hagerty sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.76, for a total value of $119,520.00. Following the transaction, the insider now directly owns 147,790 shares in the company, valued at $8,831,930.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 6,000 shares of company stock worth $362,480. Insiders own 2.80% of the company’s stock.

Performance Food Group Trading Up 1.5 %

Shares of Performance Food Group stock opened at $61.34 on Tuesday. The stock’s 50 day simple moving average is $60.64 and its 200-day simple moving average is $59.20. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.71 and a quick ratio of 0.75. The stock has a market cap of $9.58 billion, a P/E ratio of 24.05 and a beta of 1.37. Performance Food Group has a 1-year low of $42.77 and a 1-year high of $64.34.

Performance Food Group (NYSE:PFGC) last announced its quarterly earnings results on Wednesday, August 16th. The food distribution company reported $1.14 earnings per share for the quarter, meeting the consensus estimate of $1.14. The firm had revenue of $14.87 billion for the quarter, compared to analysts’ expectations of $15.07 billion. Performance Food Group had a net margin of 0.69% and a return on equity of 17.01%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. Analysts predict that Performance Food Group will post 4.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PFGC shares. UBS Group lifted their price objective on Performance Food Group from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Jefferies Financial Group lifted their price objective on Performance Food Group from $73.00 to $77.00 and gave the stock a “buy” rating in a report on Thursday, August 17th. Barclays lifted their price objective on Performance Food Group from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, August 17th. Morgan Stanley cut shares of Performance Food Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $74.00 to $66.00 in a research note on Tuesday, June 20th. Finally, Stephens reaffirmed an “overweight” rating and set a $68.00 target price on shares of Performance Food Group in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average price target of $74.30.

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.