VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Performance Food Group Company $PFGC

Key Points

• Virginia Retirement Systems purchased 16,700 shares of Performance Food Group, valued at approximately $1.87 million. Institutional investors collectively own 96.87% of PFGC.
• Analysts remain broadly bullish, with 12 Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $126.40.
• PFGC shares opened at $94.07, while the company’s latest quarterly results slightly missed expectations: earnings were $1.59 per share and revenue was $18.03 billion, though revenue increased 6.7% year over year. Insiders sold 43,049 shares worth about $4.51 million over the last quarter.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Performance Food Group Company (NYSE:PFGC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,700 shares of the food distribution company's stock, valued at approximately $1,867,000.

Several other institutional investors have also bought and sold shares of PFGC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Performance Food Group by 0.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,362 shares of the food distribution company's stock valued at $3,372,000 after acquiring an additional 121 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Performance Food Group by 3.8% in the first quarter. HB Wealth Management LLC now owns 3,328 shares of the food distribution company's stock valued at $285,000 after purchasing an additional 122 shares during the last quarter. Arax Advisory Partners lifted its position in shares of Performance Food Group by 7.4% during the fourth quarter. Arax Advisory Partners now owns 2,043 shares of the food distribution company's stock valued at $184,000 after purchasing an additional 140 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Performance Food Group by 16.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,012 shares of the food distribution company's stock valued at $91,000 after purchasing an additional 143 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its holdings in Performance Food Group by 6.8% during the fourth quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company's stock worth $243,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 96.87% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PFGC shares. Sanford C. Bernstein reiterated an "outperform" rating on shares of Performance Food Group in a research note on Thursday, August 13th. Guggenheim boosted their target price on Performance Food Group from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, June 29th. Citigroup upped their target price on Performance Food Group from $143.00 to $144.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Wells Fargo & Company increased their price target on Performance Food Group from $115.00 to $130.00 and gave the company an "overweight" rating in a research report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $133.00 price objective on shares of Performance Food Group in a research report on Thursday, August 13th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $126.40.

Insider Transactions at Performance Food Group

In other news, insider Donald Bulmer sold 10,535 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $105.90, for a total transaction of $1,115,656.50. Following the completion of the transaction, the insider owned 54,291 shares in the company, valued at approximately $5,749,416.90. This represents a 16.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hugh Hatcher sold 3,000 shares of Performance Food Group stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $99.18, for a total value of $297,540.00. Following the completion of the sale, the insider directly owned 58,167 shares of the company's stock, valued at approximately $5,769,003.06. This trade represents a 4.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 43,049 shares of company stock worth $4,510,505 over the last quarter. 4.50% of the stock is currently owned by corporate insiders.

Performance Food Group Trading Down 0.3%

Shares of PFGC stock opened at $94.07 on Friday. The company has a quick ratio of 0.67, a current ratio of 1.51 and a debt-to-equity ratio of 1.34. The firm has a market cap of $14.82 billion, a P/E ratio of 41.08, a PEG ratio of 1.21 and a beta of 0.88. The company has a 50 day moving average of $107.66 and a 200-day moving average of $98.70. Performance Food Group Company has a 12-month low of $80.82 and a 12-month high of $117.47.

Performance Food Group (NYSE:PFGC - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $18.03 billion during the quarter, compared to analysts' expectations of $18.11 billion. During the same quarter in the previous year, the company posted $0.84 EPS. Performance Food Group's revenue for the quarter was up 6.7% on a year-over-year basis. Sell-side analysts anticipate that Performance Food Group Company will post 5.6 earnings per share for the current year.

Performance Food Group Company Profile

Performance Food Group Company NYSE: PFGC is a food and food-related products distributor serving businesses across the United States and Canada. The company supplies restaurants, foodservice operators, schools, healthcare facilities, hospitality businesses, vending and entertainment venues, and convenience stores.

Performance Food Group operates through three primary businesses: Foodservice, Vistar and Convenience. Its offerings include fresh and frozen foods, dry groceries, beverages, ingredients, disposable supplies, and specialty products such as candy, snacks and theater concessions.

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