Public Employees Retirement System of Ohio Takes Position in Performance Food Group Company $PFGC

Key Points

• Ohio’s public employees retirement system purchased 42,879 shares of Performance Food Group worth approximately $4.8 million in the second quarter. Institutional investors and hedge funds now own 96.87% of the company.
• Analysts remain broadly positive: 12 rate PFGC a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $126.90.
• Performance Food Group reported quarterly revenue of $18.03 billion, up 6.7% year over year, but narrowly missed earnings expectations with EPS of $1.59 versus the $1.60 consensus estimate.

Public Employees Retirement System of Ohio purchased a new stake in Performance Food Group Company (NYSE:PFGC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 42,879 shares of the food distribution company's stock, valued at approximately $4,793,000.

A number of other large investors have also recently bought and sold shares of PFGC. Cedar Mountain Advisors LLC acquired a new position in Performance Food Group in the first quarter valued at $28,000. Asset Planning Inc purchased a new stake in shares of Performance Food Group in the first quarter valued at about $35,000. Lloyd Advisory Services LLC. acquired a new stake in shares of Performance Food Group during the fourth quarter worth about $43,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Performance Food Group during the second quarter worth about $51,000. Finally, Clearstead Advisors LLC increased its position in Performance Food Group by 132.9% in the 4th quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company's stock valued at $53,000 after acquiring an additional 335 shares during the period. Institutional investors and hedge funds own 96.87% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Performance Food Group in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $133.00 price target on shares of Performance Food Group in a research note on Thursday, August 13th. TD Cowen lowered their price objective on shares of Performance Food Group from $128.00 to $120.00 and set a "buy" rating on the stock in a research report on Thursday, August 13th. Barclays boosted their price objective on shares of Performance Food Group from $105.00 to $115.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Performance Food Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 27th. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $126.90.

Performance Food Group Stock Performance

NYSE PFGC opened at $99.36 on Thursday. The stock has a market capitalization of $15.65 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 1.27 and a beta of 0.88. The business's 50 day moving average is $109.72 and its two-hundred day moving average is $98.77. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47. The company has a current ratio of 1.51, a quick ratio of 0.67 and a debt-to-equity ratio of 1.34.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The food distribution company reported $1.59 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a net margin of 0.53% and a return on equity of 15.15%. The business had revenue of $18.03 billion during the quarter, compared to analyst estimates of $18.11 billion. During the same period in the prior year, the business earned $0.84 earnings per share. The firm's quarterly revenue was up 6.7% compared to the same quarter last year. Research analysts expect that Performance Food Group Company will post 5.58 EPS for the current year.

Insider Activity at Performance Food Group

In related news, insider Donald S. Bulmer sold 1,353 shares of the firm's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $105.29, for a total value of $142,457.37. Following the completion of the sale, the insider owned 52,938 shares in the company, valued at $5,573,842.02. This trade represents a 2.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the business's stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total transaction of $297,540.00. Following the sale, the insider directly owned 58,167 shares in the company, valued at approximately $5,769,003.06. This represents a 4.90% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 57,750 shares of company stock worth $6,019,910. 4.50% of the stock is currently owned by insiders.

Performance Food Group Company Profile

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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