Louisiana State Employees Retirement System Takes Position in Performance Food Group Company $PFGC

Louisiana State Employees Retirement System purchased a new position in Performance Food Group Company (NYSE:PFGC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 45,600 shares of the food distribution company’s stock, valued at approximately $3,906,000.

A number of other institutional investors also recently bought and sold shares of PFGC. BTC Capital Management Inc. raised its holdings in Performance Food Group by 13.3% during the first quarter. BTC Capital Management Inc. now owns 6,718 shares of the food distribution company’s stock worth $575,000 after purchasing an additional 787 shares in the last quarter. OP Asset Management Ltd purchased a new stake in Performance Food Group in the first quarter valued at $15,801,000. Cidel Asset Management Inc. acquired a new position in Performance Food Group in the first quarter valued at $203,000. Leeward Investments LLC MA boosted its stake in Performance Food Group by 52.5% in the first quarter. Leeward Investments LLC MA now owns 275,068 shares of the food distribution company’s stock valued at $23,562,000 after acquiring an additional 94,644 shares in the last quarter. Finally, First Community Trust NA grew its holdings in shares of Performance Food Group by 9.5% during the first quarter. First Community Trust NA now owns 12,630 shares of the food distribution company’s stock worth $1,082,000 after purchasing an additional 1,091 shares during the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Erika T. Davis sold 1,750 shares of Performance Food Group stock in a transaction on Friday, June 12th. The shares were sold at an average price of $105.00, for a total value of $183,750.00. Following the transaction, the insider directly owned 43,041 shares in the company, valued at $4,519,305. This trade represents a 3.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider A Brent King sold 6,111 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $641,655.00. Following the completion of the transaction, the insider directly owned 44,260 shares in the company, valued at $4,647,300. This represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,592 shares of company stock worth $2,741,865 over the last three months. 4.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on PFGC shares. Citigroup boosted their target price on Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Barclays lifted their price target on Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research note on Wednesday. Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $123.00 target price on shares of Performance Food Group in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $110.45 on Friday. The stock has a market capitalization of $17.35 billion, a PE ratio of 52.59, a price-to-earnings-growth ratio of 1.73 and a beta of 0.93. Performance Food Group Company has a 52-week low of $80.82 and a 52-week high of $110.66. The stock’s 50-day moving average price is $96.53 and its 200 day moving average price is $93.06. The company has a quick ratio of 0.68, a current ratio of 1.52 and a debt-to-equity ratio of 1.40.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.77 by $0.03. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The firm had revenue of $16.29 billion during the quarter, compared to the consensus estimate of $16.17 billion. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that Performance Food Group Company will post 4.57 EPS for the current year.

About Performance Food Group

Performance Food Group Company (NYSE: PFGC) is a leading foodservice distribution company headquartered in Richmond, Virginia. The company operates through multiple segments, offering a broad range of products including fresh, frozen and dry foods, as well as non-food items such as supplies, paper goods and equipment. Performance Food Group serves a diverse customer base that encompasses independent and multi-unit restaurants, healthcare facilities, hospitality venues, schools, and other institutional customers.

Through its national broadline division, Performance Food Group provides next-day delivery of products sourced from both company-owned processing facilities and third-party suppliers.