Performance Food Group (NYSE:PFGC) Holdings Lowered by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its stake in Performance Food Group (NYSE:PFGC) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,000 shares of the food distribution company’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in Performance Food Group were worth $2,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors boosted its position in shares of Performance Food Group by 0.5% during the 1st quarter. Capital World Investors now owns 21,527,096 shares of the food distribution company’s stock valued at $1,606,782,000 after purchasing an additional 100,244 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Performance Food Group by 2.1% during the 4th quarter. Clearbridge Investments LLC now owns 6,484,836 shares of the food distribution company’s stock valued at $448,426,000 after acquiring an additional 136,141 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Performance Food Group by 6.5% in the 4th quarter. Wellington Management Group LLP now owns 6,473,543 shares of the food distribution company’s stock worth $447,645,000 after acquiring an additional 397,114 shares during the last quarter. Jennison Associates LLC raised its position in shares of Performance Food Group by 2.5% during the first 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 during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Performance Food Group by 414.1% during the fourth quarter. Point72 Asset Management L.P. now owns 2,198,282 shares of the food distribution company’s stock valued at $152,011,000 after purchasing an additional 1,770,683 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PFGC. Morgan Stanley dropped their price target on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Wells Fargo & Company upped their price target on shares of Performance Food Group from $80.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Barclays lifted their price objective on shares of Performance Food Group from $84.00 to $88.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, BMO Capital Markets upped their price target on Performance Food Group from $80.00 to $87.00 and gave the company an “outperform” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $86.38.

Performance Food Group Stock Performance

NYSE PFGC opened at $74.70 on Friday. 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 fifty day moving average is $67.09 and its two-hundred day moving average is $70.39. Performance Food Group has a 52-week low of $52.92 and a 52-week high of $78.54. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 27.87, a P/E/G ratio of 0.92 and a beta of 1.42.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.37 by $0.08. The firm 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 quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $1.14 earnings per share. Equities research analysts forecast that Performance Food Group will post 4.87 EPS for the current year.

Insiders Place Their Bets

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 stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the transaction, the insider now owns 531,556 shares in the company, valued at approximately $39,085,312.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Performance Food Group news, insider George L. Holm sold 63,500 shares of Performance Food Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the completion of the transaction, the insider now directly owns 531,556 shares of the company’s stock, valued at $39,085,312.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimberly Grant sold 4,000 shares of the business’s 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 completion of the sale, the director now owns 10,184 shares in the company, valued at approximately $749,644.24. The disclosure for this sale can be found here. Corporate insiders own 2.60% 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.