Performance Food Group (NYSE:PFGC) Position Cut by New York State Common Retirement Fund

New York State Common Retirement Fund cut its holdings in shares of Performance Food Group (NYSE:PFGC - Free Report) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 747,288 shares of the food distribution company's stock after selling 31,456 shares during the quarter. New York State Common Retirement Fund owned about 0.48% of Performance Food Group worth $58,565,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Performance Food Group by 12.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,305 shares of the food distribution company's stock valued at $396,000 after acquiring an additional 584 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in shares of Performance Food Group in the 1st quarter valued at approximately $208,000. Capstone Investment Advisors LLC acquired a new stake in shares of Performance Food Group during the 1st quarter worth approximately $1,030,000. BNP Paribas purchased a new stake in shares of Performance Food Group during the 1st quarter valued at approximately $1,251,000. Finally, Fidelis Capital Partners LLC acquired a new position in Performance Food Group in the first quarter valued at approximately $139,000. Institutional investors and hedge funds own 96.87% of the company's stock.

Performance Food Group Stock Performance

Shares of PFGC stock traded down $0.39 during mid-day trading on Friday, hitting $80.86. The stock had a trading volume of 868,760 shares, compared to its average volume of 782,460. Performance Food Group has a fifty-two week low of $58.79 and a fifty-two week high of $83.70. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The company's 50-day simple moving average is $77.86 and its 200-day simple moving average is $71.62. The firm has a market cap of $12.60 billion, a PE ratio of 28.98, a PEG ratio of 0.81 and a beta of 1.44.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PFGC shares. Barclays lifted their target price on Performance Food Group from $88.00 to $98.00 and gave the company an "overweight" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on Performance Food Group from $83.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, October 9th. Morgan Stanley reissued an "equal weight" rating and set a $92.00 target price on shares of Performance Food Group in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft increased their price target on Performance Food Group from $93.00 to $94.00 and gave the company a "buy" rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets lifted their price objective on shares of Performance Food Group from $80.00 to $87.00 and gave the stock an "outperform" rating in a research 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 stock. According to data from MarketBeat.com, Performance Food Group currently has an average rating of "Moderate Buy" and a consensus target price of $90.88.

Insiders Place Their Bets

In other Performance Food Group news, insider Scott E. Mcpherson sold 25,000 shares of the business's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total value of $1,866,000.00. Following the completion of the transaction, the insider now directly owns 149,863 shares in the company, valued at approximately $11,185,774.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider George L. Holm sold 63,500 shares of the firm's 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 owns 531,556 shares in the company, valued at approximately $39,085,312.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Scott E. Mcpherson sold 25,000 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the sale, the insider now owns 149,863 shares of the company's stock, valued at approximately $11,185,774.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock valued at $7,426,075 in the last ninety days. Insiders own 2.80% of the company's stock.

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.