Texas Permanent School Fund Corp Sells 19,715 Shares of Performance Food Group (NYSE:PFGC)

Texas Permanent School Fund Corp cut its position in shares of Performance Food Group (NYSE:PFGC - Free Report) by 14.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,452 shares of the food distribution company's stock after selling 19,715 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of Performance Food Group worth $7,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors grew its position in shares of Performance Food Group by 0.5% in the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company's stock worth $1,606,782,000 after buying an additional 100,244 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Performance Food Group by 2.1% during the fourth quarter. Clearbridge Investments LLC now owns 6,484,836 shares of the food distribution company's stock valued at $448,426,000 after purchasing an additional 136,141 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Performance Food Group by 6.5% during the fourth quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company's stock valued at $447,645,000 after purchasing an additional 397,114 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Performance Food Group by 2.5% in the 1st quarter. Jennison Associates LLC now owns 2,349,714 shares of the food distribution company's stock worth $175,383,000 after purchasing an additional 56,242 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of 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 buying an additional 1,770,683 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

PFGC stock traded up $0.07 on Wednesday, hitting $71.36. The company had a trading volume of 656,095 shares, compared to its average volume of 1,046,828. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 26.60, a P/E/G ratio of 0.78 and a beta of 1.44. The company has a current ratio of 1.64, a quick ratio of 0.76 and a debt-to-equity ratio of 0.95. The stock's 50-day simple moving average is $68.56 and its 200 day simple moving average is $70.34. Performance Food Group has a 12-month low of $52.92 and a 12-month high of $78.54.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.08. The company had revenue of $15.20 billion during the quarter, compared to analysts' expectations of $15.25 billion. Performance Food Group had a return on equity of 17.03% and a net margin of 0.75%. Performance Food Group's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.14 earnings per share. As a group, equities research analysts expect that Performance Food Group will post 4.87 earnings per share for the current fiscal year.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider George L. Holm sold 63,500 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $73.53, for a total value of $4,669,155.00. Following the transaction, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kimberly Grant sold 4,000 shares of Performance Food Group stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $73.61, for a total transaction of $294,440.00. Following the transaction, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $73.53, for a total value of $4,669,155.00. Following the completion of the sale, the insider now owns 531,556 shares of the company's stock, valued at approximately $39,085,312.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,500 shares of company stock worth $7,426,075. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. BMO Capital Markets lifted their price objective on Performance Food Group from $80.00 to $87.00 and gave the company an "outperform" rating in a research note on Thursday, August 15th. StockNews.com upgraded shares of Performance Food Group from a "hold" rating to a "buy" rating in a research note on Tuesday, August 20th. Jefferies Financial Group lifted their target price on shares of Performance Food Group from $84.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Performance Food Group from $93.00 to $94.00 and gave the company a "buy" rating in a report on Thursday, August 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Performance Food Group from $80.00 to $83.00 and gave the stock an "overweight" rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $86.38.

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.