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

Texas Permanent School Fund Corp lessened its holdings in Performance Food Group (NYSE:PFGC) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 0.07% of Performance Food Group worth $7,699,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Capital World Investors raised its stake in Performance Food Group by 0.5% in the first 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 raised its stake in Performance Food Group by 2.1% in 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 in the last quarter. Wellington Management Group LLP raised its stake in Performance Food Group by 6.5% in 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 in the last quarter. Jennison Associates LLC raised its stake in Performance Food Group by 2.5% in the first quarter. Jennison Associates LLC now owns 2,349,714 shares of the food distribution company’s stock valued at $175,383,000 after purchasing an additional 56,242 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Performance Food Group by 414.1% in 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 in the last quarter. Institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PFGC. Barclays boosted their price target on Performance Food Group from $84.00 to $88.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. BMO Capital Markets boosted their target price on Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Morgan Stanley lowered their target price on Performance Food Group from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft boosted their target price on Performance Food Group from $93.00 to $94.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Truist Financial boosted their target price on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat, Performance Food Group presently has a consensus rating of “Moderate Buy” and an average price target of $86.38.

Insider Activity at Performance Food Group

In related news, insider George L. Holm sold 63,500 shares of the company’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 value of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares in the company, valued at $39,085,312.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Kimberly Grant sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $73.61, for a total value of $294,440.00. Following the sale, the director now directly owns 10,184 shares in the company, valued at $749,644.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 531,556 shares in the company, valued at $39,085,312.68. The disclosure for this sale can be found here. Insiders have sold 100,500 shares of company stock worth $7,426,075 over the last ninety days. Insiders own 2.60% of the company’s stock.

Performance Food Group Stock Performance

Performance Food Group stock opened at $71.30 on Wednesday. The business has a 50 day moving average of $68.56 and a 200-day moving average of $70.34. Performance Food Group has a 1 year low of $52.92 and a 1 year high of $78.54. 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 has a market capitalization of $11.11 billion, a P/E ratio of 26.60, a P/E/G ratio of 0.78 and a beta of 1.44.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, August 14th. The food distribution company reported $1.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.25 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that Performance Food Group will post 4.87 earnings per share for the current year.

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.