Performance Food Group Company $PFGC Shares Sold by Strs Ohio

Key Points

• Strs Ohio cut its stake in Performance Food Group by 54.0% in Q4, selling 80,794 shares and retaining 68,957 shares valued at about $6.20 million, while institutional investors own roughly 96.87% of the stock.
• Performance Food Group missed quarterly estimates, reporting EPS of $0.98 versus a $1.07 consensus and revenue of $16.44B versus $16.54B expected, and the stock is trading below its 50‑ and 200‑day moving averages.
• Analysts have trimmed price targets (UBS to $108, Citi to $126), but the consensus rating remains a Moderate Buy with an average target of $116.44.

Strs Ohio decreased its holdings in Performance Food Group Company (NYSE:PFGC - Free Report) by 54.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,957 shares of the food distribution company's stock after selling 80,794 shares during the quarter. Strs Ohio's holdings in Performance Food Group were worth $6,201,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Root Financial Partners LLC acquired a new position in shares of Performance Food Group in the third quarter worth about $39,000. Torren Management LLC acquired a new position in shares of Performance Food Group in the fourth quarter worth about $41,000. Eastern Bank acquired a new position in shares of Performance Food Group in the third quarter worth about $47,000. Mather Group LLC. acquired a new position in shares of Performance Food Group in the third quarter worth about $55,000. Finally, Parkside Financial Bank & Trust lifted its stake in shares of Performance Food Group by 55.4% in the third quarter. Parkside Financial Bank & Trust now owns 564 shares of the food distribution company's stock worth $59,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group cut their price target on Performance Food Group from $120.00 to $108.00 and set a "buy" rating on the stock in a research note on Thursday, February 5th. Zacks Research upgraded Performance Food Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 7th. Sanford C. Bernstein restated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, February 5th. Weiss Ratings restated a "hold (c)" rating on shares of Performance Food Group in a research note on Friday, March 27th. Finally, Citigroup cut their price objective on Performance Food Group from $127.00 to $126.00 and set a "buy" rating on the stock in a research note on Friday, February 6th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Performance Food Group has an average rating of "Moderate Buy" and an average target price of $116.44.

Insider Activity at Performance Food Group

In other news, insider Chasity D. Grosh sold 1,843 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $92.03, for a total transaction of $169,611.29. Following the completion of the transaction, the insider directly owned 6,601 shares of the company's stock, valued at approximately $607,490.03. This represents a 21.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.50% of the company's stock.

Performance Food Group Trading Down 2.0%

Shares of NYSE PFGC opened at $86.93 on Tuesday. The stock's 50 day moving average price is $88.62 and its two-hundred day moving average price is $92.69. Performance Food Group Company has a 52-week low of $77.44 and a 52-week high of $109.05. The stock has a market capitalization of $13.63 billion, a P/E ratio of 39.51, a PEG ratio of 1.39 and a beta of 0.92. The company has a quick ratio of 0.68, a current ratio of 1.60 and a debt-to-equity ratio of 1.45.

Performance Food Group (NYSE:PFGC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.07 by ($0.09). The firm had revenue of $16.44 billion for the quarter, compared to analyst estimates of $16.54 billion. Performance Food Group had a net margin of 0.52% and a return on equity of 15.64%. The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. On average, analysts anticipate that Performance Food Group Company will post 4.59 earnings per share for the current fiscal 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.

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