North Dakota State Investment Board Purchases New Shares in Performance Food Group Company $PFGC

North Dakota State Investment Board purchased a new stake in Performance Food Group Company (NYSE:PFGC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,372 shares of the food distribution company’s stock, valued at approximately $483,000.

Several other large investors have also added to or reduced their stakes in the stock. Capital World Investors boosted its holdings in Performance Food Group by 0.8% in the third quarter. Capital World Investors now owns 22,446,853 shares of the food distribution company’s stock valued at $2,335,371,000 after acquiring an additional 185,624 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Performance Food Group by 46.2% in the third quarter. Wellington Management Group LLP now owns 6,213,443 shares of the food distribution company’s stock valued at $646,447,000 after acquiring an additional 1,964,799 shares in the last quarter. Invesco Ltd. boosted its holdings in Performance Food Group by 79.1% in the third quarter. Invesco Ltd. now owns 2,647,062 shares of the food distribution company’s stock valued at $275,400,000 after acquiring an additional 1,168,869 shares in the last quarter. Close Asset Management Ltd boosted its holdings in Performance Food Group by 7.5% in the third quarter. Close Asset Management Ltd now owns 2,080,377 shares of the food distribution company’s stock valued at $216,536,000 after acquiring an additional 145,387 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Performance Food Group by 0.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,476,273 shares of the food distribution company’s stock valued at $132,746,000 after acquiring an additional 8,401 shares in the last quarter. Institutional investors own 96.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PFGC. Weiss Ratings reiterated a “hold (c)” rating on shares of Performance Food Group in a report on Friday, March 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $123.00 price target on shares of Performance Food Group in a report on Thursday, May 7th. Citigroup boosted their target price 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 boosted their target price on shares of Performance Food Group from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Performance Food Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 7th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.00.

Insider Transactions at Performance Food Group

In related news, insider Hugh Patrick Hatcher sold 3,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $94.54, for a total value of $283,620.00. Following the transaction, the insider owned 44,655 shares in the company, valued at $4,221,683.70. The trade was a 6.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimberly Grant sold 2,500 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $95.00, for a total transaction of $237,500.00. Following the completion of the transaction, the director owned 11,935 shares in the company, valued at approximately $1,133,825. The trade was a 17.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.50% of the company’s stock.

Performance Food Group Stock Performance

Shares of PFGC stock opened at $93.71 on Friday. Performance Food Group Company has a 12 month low of $80.82 and a 12 month high of $109.05. The stock has a market cap of $14.72 billion, a PE ratio of 44.62, a price-to-earnings-growth ratio of 1.49 and a beta of 0.92. The company has a current ratio of 1.52, a quick ratio of 0.68 and a debt-to-equity ratio of 1.40. The company’s fifty day moving average price is $89.04 and its 200-day moving average price is $92.14.

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

About Performance Food Group

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.