Arizona State Retirement System Purchases 422 Shares of Performance Food Group (NYSE:PFGC)

Arizona State Retirement System raised its position in shares of Performance Food Group (NYSE:PFGC) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,229 shares of the food distribution company’s stock after purchasing an additional 422 shares during the quarter. Arizona State Retirement System’s holdings in Performance Food Group were worth $3,824,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC bought a new stake in shares of Performance Food Group during the fourth quarter valued at approximately $2,087,000. M&T Bank Corp boosted its stake in Performance Food Group by 1.1% during the 4th quarter. M&T Bank Corp now owns 18,891 shares of the food distribution company’s stock valued at $1,597,000 after purchasing an additional 213 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Performance Food Group by 2.9% in the 4th quarter. Assetmark Inc. now owns 65,971 shares of the food distribution company’s stock worth $5,578,000 after purchasing an additional 1,850 shares in the last quarter. J.Safra Asset Management Corp raised its stake in shares of Performance Food Group by 40.8% in the fourth quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company’s stock worth $66,000 after purchasing an additional 226 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Performance Food Group by 154.2% during the fourth quarter. Victory Capital Management Inc. now owns 3,910,406 shares of the food distribution company’s stock valued at $330,625,000 after purchasing an additional 2,371,818 shares in the last quarter. 96.87% of the stock is owned by hedge funds and other institutional investors.

Performance Food Group Price Performance

Shares of Performance Food Group stock opened at $77.80 on Monday. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. The stock has a 50 day moving average price of $85.84 and a 200-day moving average price of $83.06. Performance Food Group has a one year low of $61.60 and a one year high of $92.44.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings results on Wednesday, February 5th. The food distribution company reported $0.98 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.06). Performance Food Group had a net margin of 0.64% and a return on equity of 16.58%. Equities analysts expect that Performance Food Group will post 4.58 EPS for the current year.

Insiders Place Their Bets

In other news, insider Craig Howard Hoskins sold 20,496 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $84.60, for a total transaction of $1,733,961.60. Following the transaction, the insider now owns 172,372 shares in the company, valued at approximately $14,582,671.20. This trade represents a 10.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Melius Research upgraded Performance Food Group to a “hold” rating in a report on Wednesday, December 18th. Piper Sandler lowered shares of Performance Food Group from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $92.00 to $90.00 in a research note on Friday, February 7th. StockNews.com cut shares of Performance Food Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Morgan Stanley raised their target price on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Melius started coverage on shares of Performance Food Group in a research note on Wednesday, December 18th. They set a “hold” rating and a $95.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.73.

Performance Food Group Company Profile

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.