State of New Jersey Common Pension Fund D Decreases Holdings in Performance Food Group Company $PFGC

Key Points

• The State of New Jersey Common Pension Fund D sold 6,054 shares of Performance Food Group Company (PFGC), reducing its holdings by 11.4% to a total of 47,076 shares worth approximately $3.7 million.
• Several institutional investors, including Barclays PLC and First Trust Advisors LP, made significant increases to their positions in PFGC, highlighting ongoing investor interest in the company.
• Analysts have raised their price targets for PFGC stock, with Wells Fargo setting a new target of $115.00, and the consensus price target reaching $106.00 amid an average rating of "Moderate Buy."

State of New Jersey Common Pension Fund D cut its stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 47,076 shares of the food distribution company's stock after selling 6,054 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Performance Food Group were worth $3,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PFGC. CENTRAL TRUST Co boosted its stake in Performance Food Group by 476.5% during the first quarter. CENTRAL TRUST Co now owns 490 shares of the food distribution company's stock worth $39,000 after acquiring an additional 405 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Performance Food Group by 203.7% during the first quarter. Farther Finance Advisors LLC now owns 498 shares of the food distribution company's stock worth $40,000 after acquiring an additional 334 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Performance Food Group during the first quarter worth $44,000. Signaturefd LLC boosted its stake in Performance Food Group by 60.9% during the first quarter. Signaturefd LLC now owns 830 shares of the food distribution company's stock worth $65,000 after acquiring an additional 314 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in Performance Food Group by 353.5% during the first quarter. Golden State Wealth Management LLC now owns 907 shares of the food distribution company's stock worth $71,000 after acquiring an additional 707 shares in the last quarter. 96.87% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Hugh Patrick Hatcher sold 2,000 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $95.00, for a total transaction of $190,000.00. Following the transaction, the insider directly owned 35,239 shares of the company's stock, valued at $3,347,705. This trade represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Erika T. Davis sold 8,200 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $89.72, for a total transaction of $735,704.00. Following the transaction, the insider directly owned 46,722 shares in the company, valued at $4,191,897.84. The trade was a 14.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,531 shares of company stock valued at $6,749,551 over the last ninety days. Company insiders own 2.80% of the company's stock.

Performance Food Group Stock Up 2.1%

Shares of PFGC traded up $2.0760 during trading hours on Friday, reaching $101.7960. 1,012,656 shares of the stock traded hands, compared to its average volume of 1,932,121. The company has a current ratio of 1.58, a quick ratio of 0.72 and a debt-to-equity ratio of 1.51. The stock has a fifty day simple moving average of $94.66 and a 200 day simple moving average of $86.27. Performance Food Group Company has a 52 week low of $68.39 and a 52 week high of $103.50. The company has a market cap of $15.93 billion, a price-to-earnings ratio of 46.91, a PEG ratio of 1.13 and a beta of 1.20.

Performance Food Group (NYSE:PFGC - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The food distribution company reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.10. Performance Food Group had a net margin of 0.54% and a return on equity of 16.23%. The company had revenue of $16.94 billion for the quarter, compared to analyst estimates of $16.85 billion. During the same period last year, the firm earned $1.45 earnings per share. The firm's revenue was up 11.2% on a year-over-year basis. Performance Food Group has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, equities analysts forecast that Performance Food Group Company will post 4.58 EPS for the current year.

Analyst Ratings Changes

PFGC has been the topic of several research analyst reports. Sanford C. Bernstein set a $112.00 target price on shares of Performance Food Group and gave the stock an "overweight" rating in a research note on Thursday, May 29th. UBS Group increased their target price on shares of Performance Food Group from $110.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Citigroup assumed coverage on shares of Performance Food Group in a research note on Thursday, May 22nd. They issued a "buy" rating and a $121.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Performance Food Group from $93.00 to $96.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Finally, Truist Financial raised their price objective on shares of Performance Food Group from $101.00 to $118.00 and gave the company a "buy" rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $106.00.

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.