VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.87 Million in Performance Food Group Company $PFGC

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

A number of other institutional investors have also added to or reduced their stakes in PFGC. Cedar Mountain Advisors LLC bought a new position in Performance Food Group in the 1st quarter worth about $28,000. Asset Planning Inc purchased a new stake in shares of Performance Food Group in the first quarter worth about $35,000. Lloyd Advisory Services LLC. bought a new position in shares of Performance Food Group in the fourth quarter valued at approximately $43,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Performance Food Group during the second quarter valued at approximately $51,000. Finally, Clearstead Advisors LLC grew its stake in Performance Food Group by 132.9% during the fourth quarter. Clearstead Advisors LLC now owns 587 shares of the food distribution company’s stock valued at $53,000 after acquiring an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 96.87% of the company’s stock.

Insider Buying and Selling

In related news, insider Hugh Hatcher sold 3,000 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $99.18, for a total transaction of $297,540.00. Following the transaction, the insider 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald Bulmer sold 1,353 shares of Performance Food Group stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $105.29, for a total transaction of $142,457.37. Following the completion of the transaction, the insider owned 52,938 shares in the company, valued at approximately $5,573,842.02. The trade was a 2.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 43,049 shares of company stock worth $4,510,505 in the last ninety days. 4.50% of the stock is currently owned by insiders.

Performance Food Group Stock Performance

NYSE:PFGC opened at $94.07 on Friday. The business has a 50 day moving average of $107.66 and a 200 day moving average of $98.70. The company has a market capitalization of $14.82 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 1.21 and a beta of 0.88. Performance Food Group Company has a 1-year low of $80.82 and a 1-year high of $117.47. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.51 and a quick ratio of 0.67.

Performance Food Group (NYSE:PFGC) last issued its earnings results on Wednesday, August 12th. The food distribution company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.01). Performance Food Group had a return on equity of 15.15% and a net margin of 0.53%.The firm had revenue of $18.03 billion during the quarter, compared to analysts’ expectations of $18.11 billion. During the same period in the prior year, the company earned $0.84 EPS. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, sell-side analysts predict that Performance Food Group Company will post 5.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PFGC has been the topic of several recent analyst reports. Sanford C. Bernstein reiterated an “outperform” rating on shares of Performance Food Group in a research note on Thursday, August 13th. BMO Capital Markets reissued an “outperform” rating on shares of Performance Food Group in a report on Thursday, August 13th. Citigroup raised their price objective on shares of Performance Food Group from $143.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. TD Cowen dropped their price objective on shares of Performance Food Group from $120.00 to $115.00 and set a “buy” rating for the company in a report on Friday. Finally, Weiss Ratings upgraded shares of Performance Food Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 27th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.40.

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.