Illinois Municipal Retirement Fund Boosts Stake in Performance Food Group Company $PFGC

Illinois Municipal Retirement Fund raised its position in shares of Performance Food Group Company (NYSE:PFGC) by 8.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,295 shares of the food distribution company’s stock after buying an additional 5,861 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Performance Food Group were worth $7,730,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its position in shares of Performance Food Group by 51.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 363 shares of the food distribution company’s stock valued at $32,000 after acquiring an additional 123 shares during the last quarter. AlphaQuest LLC raised its stake in Performance Food Group by 658.0% during the second quarter. AlphaQuest LLC now owns 379 shares of the food distribution company’s stock valued at $33,000 after purchasing an additional 329 shares in the last quarter. Root Financial Partners LLC bought a new position in Performance Food Group during the third quarter valued at $39,000. Golden State Wealth Management LLC grew its stake in shares of Performance Food Group by 148.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 522 shares of the food distribution company’s stock worth $46,000 after buying an additional 312 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Performance Food Group in the 3rd quarter worth about $47,000. Institutional investors own 96.87% of the company’s stock.

Insider Transactions at Performance Food Group

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the transaction, the insider directly owned 6,601 shares in the company, valued at $607,490.03. This represents a 21.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of Performance Food Group from $116.00 to $111.00 and set an “overweight” rating for the company in a report on Friday, December 12th. Morgan Stanley lowered their price objective on Performance Food Group from $123.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Zacks Research downgraded Performance Food Group from a “hold” rating to a “strong sell” rating in a research report on Friday, February 6th. Barclays decreased their price target on Performance Food Group from $120.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Finally, Citigroup dropped their price objective on shares of Performance Food Group from $127.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $116.44.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $98.00 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45. The stock’s fifty day moving average is $92.97 and its two-hundred day moving average is $97.61. Performance Food Group Company has a 52 week low of $68.39 and a 52 week high of $109.05. The company has a market capitalization of $15.37 billion, a PE ratio of 44.55, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.09). The company had revenue of $16.44 billion for the quarter, compared to analysts’ expectations of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. As a group, analysts expect that Performance Food Group Company will post 4.58 earnings per share 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.