Retirement Systems of Alabama Grows Stock Holdings in Performance Food Group Company $PFGC

Key Points

• Retirement Systems of Alabama increased its stake in Performance Food Group (NYSE:PFGC) by 20.2% in Q4, buying 38,314 shares to hold 227,554 shares worth about $20.46 million (0.15% of the company).
• Performance Food Group missed Q4 EPS ($0.98 vs. $1.07 expected) and posted revenue slightly below estimates, though revenue was up 5.2% year‑over‑year.
• Analysts maintain a consensus rating of “Moderate Buy” with a consensus price target of $116.44, even as several firms trimmed their targets and the stock trades in the mid‑$80s.

Retirement Systems of Alabama grew its position in Performance Food Group Company (NYSE:PFGC - Free Report) by 20.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,554 shares of the food distribution company's stock after buying an additional 38,314 shares during the quarter. Retirement Systems of Alabama owned 0.15% of Performance Food Group worth $20,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in Performance Food Group by 1.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,897 shares of the food distribution company's stock worth $1,134,000 after acquiring an additional 113 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Performance Food Group by 0.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 36,752 shares of the food distribution company's stock valued at $3,215,000 after acquiring an additional 125 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Performance Food Group by 1.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,124 shares of the food distribution company's stock worth $711,000 after purchasing an additional 131 shares during the period. US Bancorp DE lifted its position in shares of Performance Food Group by 4.6% during the third quarter. US Bancorp DE now owns 3,283 shares of the food distribution company's stock worth $342,000 after purchasing an additional 144 shares in the last quarter. Finally, Orion Porfolio Solutions LLC lifted its position in shares of Performance Food Group by 0.8% during the second quarter. Orion Porfolio Solutions LLC now owns 24,960 shares of the food distribution company's stock worth $2,183,000 after purchasing an additional 189 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company's stock.

Performance Food Group Stock Performance

Shares of Performance Food Group stock opened at $84.22 on Thursday. Performance Food Group Company has a one year low of $68.39 and a one year high of $109.05. The company has a market cap of $13.21 billion, a PE ratio of 38.28, a P/E/G ratio of 1.21 and a beta of 0.94. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.68 and a current ratio of 1.60. The business has a 50-day simple moving average of $91.35 and a 200-day simple moving average of $94.93.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its earnings results on Wednesday, February 4th. The food distribution company reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.09). The firm had revenue of $16.44 billion for the quarter, compared to analysts' expectations of $16.54 billion. Performance Food Group had a return on equity of 15.64% and a net margin of 0.52%.The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, equities research analysts forecast that Performance Food Group Company will post 4.58 EPS for the current fiscal year.

Analysts Set New Price Targets

PFGC has been the subject of a number of research reports. UBS Group dropped their price objective on shares of Performance Food Group from $120.00 to $108.00 and set a "buy" rating for the company in a report on Thursday, February 5th. Barclays reduced their target price on shares of Performance Food Group from $120.00 to $105.00 and set an "overweight" rating on the stock in a report on Wednesday, January 7th. Morgan Stanley decreased their price target on shares of Performance Food Group from $123.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, February 5th. Guggenheim restated a "buy" rating on shares of Performance Food Group in a research note on Thursday, December 18th. Finally, Piper Sandler cut their price objective on Performance Food Group from $116.00 to $111.00 and set an "overweight" rating on the stock in a research report on Friday, December 12th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Performance Food Group presently has an average rating of "Moderate Buy" and a consensus target price of $116.44.

Insider Activity at Performance Food Group

In other Performance Food Group news, insider Chasity D. Grosh sold 1,843 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $92.03, for a total value of $169,611.29. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.50% of the company's stock.

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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