California State Teachers Retirement System Reduces Stock Position in Performance Food Group (NYSE:PFGC)

California State Teachers Retirement System lessened its position in shares of Performance Food Group (NYSE:PFGC - Free Report) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,609 shares of the food distribution company's stock after selling 2,971 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Performance Food Group worth $12,311,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC purchased a new position in Performance Food Group during the 4th quarter valued at approximately $26,000. Blue Trust Inc. lifted its stake in shares of Performance Food Group by 64.6% in the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company's stock valued at $42,000 after purchasing an additional 212 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in shares of Performance Food Group by 51.4% in the 4th quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company's stock valued at $60,000 after purchasing an additional 239 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in shares of Performance Food Group by 40.8% in the 4th quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company's stock valued at $66,000 after purchasing an additional 226 shares during the last quarter. Finally, Mainstream Capital Management LLC bought a new stake in shares of Performance Food Group in the 4th quarter valued at approximately $105,000. Hedge funds and other institutional investors own 96.87% of the company's stock.

Insider Activity

In related news, insider Craig Howard Hoskins sold 19,113 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $87.55, for a total transaction of $1,673,343.15. Following the transaction, the insider now directly owns 152,293 shares in the company, valued at $13,333,252.15. The trade was a 11.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Erika T. Davis sold 8,200 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $89.72, for a total value of $735,704.00. Following the transaction, the insider now owns 46,722 shares in the company, valued at approximately $4,191,897.84. This trade represents a 14.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,972 shares of company stock worth $5,964,073. 2.80% of the stock is currently owned by company insiders.

Performance Food Group Trading Down 1.2%

PFGC traded down $1.09 during trading on Wednesday, hitting $87.78. 851,379 shares of the stock were exchanged, compared to its average volume of 1,117,423. The firm has a 50 day simple moving average of $81.52 and a 200 day simple moving average of $83.66. The firm has a market cap of $13.70 billion, a price-to-earnings ratio of 35.40, a P/E/G ratio of 0.96 and a beta of 1.13. 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 quick ratio of 0.72 and a current ratio of 1.67.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The food distribution company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.86 by ($0.07). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. The company had revenue of $15.31 billion during the quarter, compared to analysts' expectations of $15.41 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. The company's revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts expect that Performance Food Group will post 4.58 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Piper Sandler lowered Performance Food Group from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $92.00 to $90.00 in a research note on Friday, February 7th. Truist Financial decreased their price target on Performance Food Group from $104.00 to $101.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Sanford C. Bernstein set a $112.00 price target on Performance Food Group and gave the stock an "overweight" rating in a research note on Thursday, May 29th. Morgan Stanley raised their price target on Performance Food Group from $92.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Finally, Citigroup began coverage on Performance Food Group in a research note on Thursday, May 22nd. They set a "buy" rating and a $121.00 price target for the company. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.08.

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.