Louisiana State Employees Retirement System Invests $3.91 Million in Performance Food Group Company $PFGC

Louisiana State Employees Retirement System purchased a new position in shares of Performance Food Group Company (NYSE:PFGC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,600 shares of the food distribution company’s stock, valued at approximately $3,906,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFGC. Arax Advisory Partners increased its stake in shares of Performance Food Group by 7.4% in the 4th 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 boosted its position in 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 worth $91,000 after purchasing an additional 143 shares in the last quarter. US Bancorp DE boosted its position in 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. Cornerstone Wealth Management LLC grew its stake in Performance Food Group by 6.8% in the 4th quarter. Cornerstone Wealth Management LLC now owns 2,701 shares of the food distribution company’s stock valued at $243,000 after acquiring an additional 173 shares during the period. Finally, UMB Bank n.a. increased its holdings in Performance Food Group by 10.3% in the 4th quarter. UMB Bank n.a. now owns 1,941 shares of the food distribution company’s stock worth $175,000 after acquiring an additional 181 shares in the last quarter. Institutional investors and hedge funds own 96.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on PFGC shares. Citigroup increased their price objective on shares of Performance Food Group from $130.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Barclays upped their price target on shares of Performance Food Group from $105.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $123.00 price objective on shares of Performance Food Group in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $119.00.

Insider Transactions at Performance Food Group

In other news, insider Erika T. Davis sold 1,750 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $105.00, for a total transaction of $183,750.00. Following the sale, the insider owned 43,041 shares of the company’s stock, valued at approximately $4,519,305. This represents a 3.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hugh Patrick Hatcher sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total transaction of $283,620.00. Following the completion of the transaction, the insider directly owned 44,655 shares of the company’s stock, valued at approximately $4,221,683.70. The trade was a 6.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 27,592 shares of company stock valued at $2,741,865. 4.50% of the stock is owned by insiders.

Performance Food Group Trading Up 3.0%

NYSE PFGC opened at $110.45 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.52 and a quick ratio of 0.68. The stock has a market capitalization of $17.35 billion, a P/E ratio of 52.59, a PEG ratio of 1.73 and a beta of 0.93. The firm’s 50-day moving average is $96.53 and its two-hundred day moving average is $93.06. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $110.66.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, May 6th. The food distribution company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $16.29 billion during the quarter, compared to analysts’ expectations of $16.17 billion. Performance Food Group had a return on equity of 15.33% and a net margin of 0.49%.The company’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, sell-side analysts anticipate that Performance Food Group Company will post 4.57 earnings per share for the current year.

Performance Food Group 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.