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Illinois Municipal Retirement Fund boosted its holdings in Performance Food Group (NYSE:PFGC – Get Rating) by 34.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,668 shares of the food distribution company’s stock after buying an additional 5,819 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Performance Food Group were worth $1,040,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of PFGC. BlackRock Inc. raised its holdings in Performance Food Group by 76.1% in the 3rd quarter. BlackRock Inc. now owns 17,636,625 shares of the food distribution company’s stock valued at $819,396,000 after buying an additional 7,621,226 shares during the last quarter. William Blair Investment Management LLC increased its position in Performance Food Group by 605.2% during the 3rd quarter. William Blair Investment Management LLC now owns 3,548,519 shares of the food distribution company’s stock valued at $164,864,000 after purchasing an additional 3,045,319 shares during the period. Morgan Stanley increased its position in Performance Food Group by 459.4% during the 3rd quarter. Morgan Stanley now owns 1,511,537 shares of the food distribution company’s stock valued at $70,226,000 after purchasing an additional 1,241,322 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Performance Food Group by 68.0% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,518,321 shares of the food distribution company’s stock valued at $117,001,000 after purchasing an additional 1,018,986 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Performance Food Group by 162.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,524,435 shares of the food distribution company’s stock valued at $70,824,000 after purchasing an additional 944,138 shares during the period.
Shares of PFGC opened at $48.65 on Thursday. Performance Food Group has a 12-month low of $38.82 and a 12-month high of $59.34. The business’s fifty day moving average is $50.42 and its 200 day moving average is $47.33. The company has a quick ratio of 0.68, a current ratio of 1.62 and a debt-to-equity ratio of 1.34. The stock has a market cap of $7.53 billion, a P/E ratio of 194.60, a P/E/G ratio of 1.29 and a beta of 1.53.
Performance Food Group (NYSE:PFGC – Get Rating) last issued its earnings results on Wednesday, February 9th. The food distribution company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. Performance Food Group had a return on equity of 9.61% and a net margin of 0.09%. The company had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.85 billion. During the same period last year, the business earned $0.35 EPS. On average, analysts expect that Performance Food Group will post 2.59 EPS for the current year.
In other Performance Food Group news, insider Patrick T. Hagerty sold 500 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $51.06, for a total transaction of $25,530.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christine R. Vlahcevic sold 3,983 shares of the firm’s stock in a transaction on Wednesday, February 9th. The shares were sold at an average price of $50.90, for a total value of $202,734.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 14,983 shares of company stock worth $778,110. 2.60% of the stock is owned by company insiders.
PFGC has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Performance Food Group from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays increased their target price on shares of Performance Food Group from $57.00 to $65.00 in a research report on Thursday, February 10th. StockNews.com initiated coverage on shares of Performance Food Group in a research report on Thursday, March 31st. They set a “hold” rating for the company. Morgan Stanley increased their target price on shares of Performance Food Group from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, February 10th. Finally, Truist Financial started coverage on shares of Performance Food Group in a research report on Tuesday, February 1st. They set a “buy” rating and a $61.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Performance Food Group presently has a consensus rating of “Buy” and a consensus price target of $62.40.
Performance Food Group Profile (Get Rating)
Performance Food Group Co engages in the market and distribution of food products. It operates through the following segments: Foodservice and Vistar. The Foodservices segment delivers food and food-related products to independent restaurants, chain restaurants, and other institutional food-away-from-home locations.
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