State Board of Administration of Florida Retirement System Boosts Stock Holdings in Performance Food Group (NYSE:PFGC)

State Board of Administration of Florida Retirement System increased its position in Performance Food Group (NYSE:PFGC) by 21.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,618 shares of the food distribution company’s stock after acquiring an additional 18,230 shares during the period. State Board of Administration of Florida Retirement System owned about 0.07% of Performance Food Group worth $6,252,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Performance Food Group by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 15,062,328 shares of the food distribution company’s stock worth $766,824,000 after buying an additional 155,981 shares in the last quarter. BlackRock Inc. increased its holdings in Performance Food Group by 0.3% in the 1st quarter. BlackRock Inc. now owns 13,608,782 shares of the food distribution company’s stock worth $821,154,000 after buying an additional 44,032 shares in the last quarter. Wellington Management Group LLP increased its holdings in Performance Food Group by 11.3% in the 1st quarter. Wellington Management Group LLP now owns 13,298,661 shares of the food distribution company’s stock worth $677,034,000 after buying an additional 1,349,095 shares in the last quarter. Clearbridge Investments LLC grew its position in Performance Food Group by 4.7% in the 1st quarter. Clearbridge Investments LLC now owns 5,481,192 shares of the food distribution company’s stock worth $279,047,000 after purchasing an additional 248,404 shares during the period. Finally, Morgan Stanley grew its position in Performance Food Group by 106.4% in the 4th quarter. Morgan Stanley now owns 4,921,712 shares of the food distribution company’s stock worth $287,379,000 after purchasing an additional 2,536,638 shares during the period. 96.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Performance Food Group news, insider Patrick T. Hagerty sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $61.85, for a total value of $123,700.00. Following the completion of the transaction, the insider now directly owns 159,035 shares in the company, valued at approximately $9,836,314.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 6,000 shares of company stock worth $362,480 in the last three months. 2.80% of the stock is owned by company insiders.

Analyst Ratings Changes

PFGC has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of Performance Food Group from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Stephens restated an “overweight” rating and set a $68.00 price target on shares of Performance Food Group in a research note on Wednesday, August 16th. Morgan Stanley downgraded Performance Food Group from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $74.00 to $66.00 in a research note on Tuesday, June 20th. StockNews.com assumed coverage on Performance Food Group in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Barclays boosted their price target on Performance Food Group from $74.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, August 17th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $74.30.

Performance Food Group Trading Up 1.5 %

Shares of Performance Food Group stock opened at $61.34 on Tuesday. The company has a market capitalization of $9.58 billion, a P/E ratio of 24.05 and a beta of 1.37. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.75 and a current ratio of 1.71. The company has a fifty day moving average of $60.64 and a 200 day moving average of $59.20. Performance Food Group has a fifty-two week low of $42.77 and a fifty-two week high of $64.34.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 16th. The food distribution company reported $1.14 earnings per share for the quarter, hitting the consensus estimate of $1.14. The company had revenue of $14.87 billion during the quarter, compared to the consensus estimate of $15.07 billion. Performance Food Group had a net margin of 0.69% and a return on equity of 17.01%. Performance Food Group’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. On average, sell-side analysts anticipate that Performance Food Group will post 4.5 earnings per share for the current fiscal year.

About Performance Food Group

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.