New York State Teachers Retirement System Reduces Stake in Performance Food Group (NYSE:PFGC)

New York State Teachers Retirement System trimmed its stake in Performance Food Group (NYSE:PFGC) by 0.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 189,388 shares of the food distribution company’s stock after selling 129 shares during the quarter. New York State Teachers Retirement System owned approximately 0.12% of Performance Food Group worth $16,013,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC boosted its stake in Performance Food Group by 51.4% in the fourth quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock valued at $60,000 after acquiring an additional 239 shares during the last quarter. abrdn plc boosted its stake in Performance Food Group by 3.8% in the fourth quarter. abrdn plc now owns 17,699 shares of the food distribution company’s stock valued at $1,490,000 after acquiring an additional 649 shares during the last quarter. Trust Point Inc. boosted its stake in Performance Food Group by 23.8% in the fourth quarter. Trust Point Inc. now owns 4,645 shares of the food distribution company’s stock valued at $393,000 after acquiring an additional 894 shares during the last quarter. Jennison Associates LLC boosted its stake in Performance Food Group by 8.1% in the fourth quarter. Jennison Associates LLC now owns 1,667,691 shares of the food distribution company’s stock valued at $141,003,000 after acquiring an additional 125,532 shares during the last quarter. Finally, Custom Index Systems LLC boosted its stake in Performance Food Group by 4.9% in the fourth quarter. Custom Index Systems LLC now owns 5,794 shares of the food distribution company’s stock valued at $490,000 after acquiring an additional 272 shares during the last quarter. 96.87% of the stock is currently owned by hedge funds and other institutional investors.

Performance Food Group Stock Performance

NYSE PFGC opened at $87.20 on Monday. The company’s 50 day simple moving average is $86.90 and its two-hundred day simple moving average is $81.45. The stock has a market capitalization of $13.62 billion, a PE ratio of 35.16, a P/E/G ratio of 0.96 and a beta of 1.44. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.67 and a quick ratio of 0.73.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.06). Performance Food Group had a return on equity of 16.58% and a net margin of 0.64%. Analysts predict that Performance Food Group will post 4.6 earnings per share for the current fiscal year.

Insider Transactions at Performance Food Group

In related news, insider Craig Howard Hoskins sold 20,496 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $88.28, for a total transaction of $1,809,386.88. Following the transaction, the insider now owns 192,868 shares of the company’s stock, valued at approximately $17,026,387.04. This trade represents a 9.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Wall Street Analysts Forecast Growth

PFGC has been the topic of a number of recent research reports. Melius Research upgraded shares of Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Barclays dropped their price target on shares of Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. BMO Capital Markets upped their price target on shares of Performance Food Group from $87.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley upped their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.73.

Performance Food Group Company 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.