State of New Jersey Common Pension Fund D Has $6 Million Position in Performance Food Group (NYSE:PFGC)

State of New Jersey Common Pension Fund D cut its stake in Performance Food Group (NYSE:PFGC) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 86,816 shares of the food distribution company’s stock after selling 2,125 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Performance Food Group were worth $6,003,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in Performance Food Group in the fourth quarter valued at $29,000. GAMMA Investing LLC acquired a new stake in Performance Food Group during the fourth quarter worth about $29,000. Signaturefd LLC grew its stake in Performance Food Group by 38.8% during the fourth quarter. Signaturefd LLC now owns 512 shares of the food distribution company’s stock worth $35,000 after buying an additional 143 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of Performance Food Group by 50.4% in the 3rd quarter. Fifth Third Bancorp now owns 821 shares of the food distribution company’s stock valued at $48,000 after purchasing an additional 275 shares in the last quarter. Finally, Covestor Ltd boosted its position in Performance Food Group by 16.1% during the 3rd quarter. Covestor Ltd now owns 1,965 shares of the food distribution company’s stock worth $116,000 after buying an additional 272 shares during the period. Institutional investors own 96.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on PFGC. Morgan Stanley raised their price target on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, April 12th. Stephens upped their target price on shares of Performance Food Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 8th. StockNews.com upgraded shares of Performance Food Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. BMO Capital Markets increased their target price on shares of Performance Food Group from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, February 8th. Finally, Barclays increased their price target on shares of Performance Food Group from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Performance Food Group has an average rating of “Moderate Buy” and an average target price of $81.25.

Performance Food Group Stock Performance

Shares of Performance Food Group stock traded down $0.07 during trading hours on Friday, reaching $68.84. 982,745 shares of the stock traded hands, compared to its average volume of 903,307. The company has a 50 day moving average price of $73.76 and a 200 day moving average price of $68.30. The firm has a market capitalization of $10.71 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 0.98 and a beta of 1.38. The company has a quick ratio of 0.75, a current ratio of 1.71 and a debt-to-equity ratio of 1.05. Performance Food Group has a one year low of $52.92 and a one year high of $78.54.

Performance Food Group (NYSE:PFGC) last issued its quarterly earnings data on Wednesday, February 7th. The food distribution company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $14.30 billion for the quarter, compared to analysts’ expectations of $14.20 billion. Performance Food Group had a return on equity of 16.77% and a net margin of 0.74%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $0.83 earnings per share. On average, equities research analysts expect that Performance Food Group will post 4.26 earnings per share for the current fiscal year.

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.