Public Employees Retirement System of Ohio Cuts Stock Position in Performance Food Group (NYSE:PFGC)

Public Employees Retirement System of Ohio lessened its holdings in Performance Food Group (NYSE:PFGC - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,494 shares of the food distribution company's stock after selling 3,005 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Performance Food Group were worth $4,438,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Performance Food Group by 11.8% in the third quarter. JPMorgan Chase & Co. now owns 3,812,602 shares of the food distribution company's stock worth $298,794,000 after acquiring an additional 401,235 shares in the last quarter. Jennison Associates LLC raised its stake in shares of 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 worth $141,003,000 after purchasing an additional 125,532 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Performance Food Group in the fourth quarter worth about $2,087,000. KLP Kapitalforvaltning AS purchased a new position in shares of Performance Food Group in the fourth quarter worth about $3,697,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Performance Food Group by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,325 shares of the food distribution company's stock worth $103,263,000 after purchasing an additional 26,925 shares during the last quarter. Institutional investors and hedge funds own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PFGC shares. Citigroup started coverage on Performance Food Group in a research note on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price objective for the company. Sanford C. Bernstein set a $112.00 price objective on Performance Food Group and gave the stock an "overweight" rating in a research note on Thursday. Morgan Stanley raised their price objective on Performance Food Group from $92.00 to $93.00 and gave the stock an "equal weight" rating in a research note on Thursday. UBS Group raised their price objective on Performance Food Group from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Truist Financial reduced their price objective 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. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.08.

Performance Food Group Trading Up 0.3%

NYSE PFGC traded up $0.29 on Friday, reaching $89.58. 1,204,432 shares of the company were exchanged, compared to its average volume of 1,120,295. The business's fifty day moving average price is $80.86 and its 200 day moving average price is $83.58. The stock has a market capitalization of $13.98 billion, a P/E ratio of 36.12, a price-to-earnings-growth ratio of 0.96 and a beta of 1.13. The company has a current ratio of 1.67, a quick ratio of 0.72 and a debt-to-equity ratio of 1.56. Performance Food Group has a fifty-two week low of $61.60 and a fifty-two week high of $92.44.

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

Insiders Place Their Bets

In other Performance Food Group news, insider A Brent King sold 11,104 shares of Performance Food Group stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $88.69, for a total value of $984,813.76. Following the sale, the insider now owns 65,952 shares in the company, valued at $5,849,282.88. The trade was a 14.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Craig Howard Hoskins sold 14,285 shares of Performance Food Group stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $83.70, for a total value of $1,195,654.50. Following the completion of the sale, the insider now owns 138,008 shares in the company, valued at $11,551,269.60. This represents a 9.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,568 shares of company stock valued at $5,747,713. Insiders own 2.80% of the company's stock.

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.