New York State Common Retirement Fund Sells 31,456 Shares of Performance Food Group (NYSE:PFGC)

New York State Common Retirement Fund cut its holdings in Performance Food Group (NYSE:PFGC) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 747,288 shares of the food distribution company’s stock after selling 31,456 shares during the quarter. New York State Common Retirement Fund owned 0.48% of Performance Food Group worth $58,565,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PFGC. US Bancorp DE lifted its holdings in shares of Performance Food Group by 9.2% during the 3rd quarter. US Bancorp DE now owns 3,758 shares of the food distribution company’s stock valued at $295,000 after buying an additional 316 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Performance Food Group by 18.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,252 shares of the food distribution company’s stock valued at $333,000 after buying an additional 649 shares during the period. abrdn plc lifted its holdings in shares of Performance Food Group by 7.5% during the 3rd quarter. abrdn plc now owns 17,050 shares of the food distribution company’s stock valued at $1,336,000 after buying an additional 1,183 shares during the period. Smith Group Asset Management LLC lifted its holdings in shares of Performance Food Group by 1.9% during the 3rd quarter. Smith Group Asset Management LLC now owns 246,109 shares of the food distribution company’s stock valued at $19,288,000 after buying an additional 4,607 shares during the period. Finally, Inscription Capital LLC lifted its holdings in shares of Performance Food Group by 605.9% during the 3rd quarter. Inscription Capital LLC now owns 71,300 shares of the food distribution company’s stock valued at $5,588,000 after buying an additional 61,200 shares during the period. 96.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PFGC. Barclays raised their target price on Performance Food Group from $88.00 to $98.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their target price on Performance Food Group from $83.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. BMO Capital Markets raised their target price on Performance Food Group from $80.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th. Truist Financial increased their price target on Performance Food Group from $86.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $92.00 price target on shares of Performance Food Group in a report on Monday, October 28th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $90.88.

Insider Buying and Selling at Performance Food Group

In other news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the sale, the insider now directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Scott E. Mcpherson sold 25,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $74.64, for a total transaction of $1,866,000.00. Following the sale, the insider now directly owns 149,863 shares of the company’s stock, valued at $11,185,774.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider George L. Holm sold 63,500 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $73.53, for a total transaction of $4,669,155.00. Following the sale, the insider now directly owns 531,556 shares in the company, valued at approximately $39,085,312.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,500 shares of company stock valued at $7,426,075. 2.80% of the stock is owned by insiders.

Performance Food Group Price Performance

NYSE PFGC opened at $80.86 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.64 and a quick ratio of 0.76. The stock’s fifty day moving average price is $77.86 and its 200 day moving average price is $71.61. Performance Food Group has a 1 year low of $58.79 and a 1 year high of $83.70. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 0.81 and a beta of 1.45.

Performance Food Group (NYSE:PFGC) last posted its quarterly earnings results on Wednesday, August 14th. The food distribution company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.37 by $0.08. Performance Food Group had a net margin of 0.75% and a return on equity of 17.03%. The company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.25 billion. During the same period in the prior year, the company earned $1.14 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that Performance Food Group will post 4.87 earnings per share for the current year.

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.