Maryland State Retirement & Pension System Cuts Stake in Performance Food Group (NYSE:PFGC)

Maryland State Retirement & Pension System cut its stake in Performance Food Group (NYSE:PFGC) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,158 shares of the food distribution company’s stock after selling 570 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Performance Food Group were worth $690,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new position in shares of Performance Food Group in the fourth quarter valued at approximately $42,000. Blue Trust Inc. lifted its holdings in Performance Food Group by 64.6% in the 4th quarter. Blue Trust Inc. now owns 540 shares of the food distribution company’s stock valued at $42,000 after purchasing an additional 212 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Performance Food Group by 51.4% in the 4th quarter. V Square Quantitative Management LLC now owns 704 shares of the food distribution company’s stock valued at $60,000 after purchasing an additional 239 shares in the last quarter. UMB Bank n.a. boosted its stake in Performance Food Group by 69.1% during the 4th quarter. UMB Bank n.a. now owns 766 shares of the food distribution company’s stock worth $65,000 after purchasing an additional 313 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its holdings in shares of Performance Food Group by 40.8% during the fourth quarter. J.Safra Asset Management Corp now owns 780 shares of the food distribution company’s stock worth $66,000 after buying an additional 226 shares in the last quarter. 96.87% of the stock is currently owned by institutional investors and hedge funds.

Performance Food Group Price Performance

Performance Food Group stock opened at $78.47 on Tuesday. The company’s 50 day simple moving average is $84.06 and its 200-day simple moving average is $83.24. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.72 and a current ratio of 1.67. Performance Food Group has a 1 year low of $61.60 and a 1 year high of $92.44. The company has a market capitalization of $12.26 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 0.96 and a beta of 1.40.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PFGC shares. Morgan Stanley raised their price target on shares of Performance Food Group from $94.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Barclays lowered their target price on Performance Food Group from $103.00 to $102.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Melius assumed coverage on Performance Food Group in a report on Wednesday, December 18th. They issued a “hold” rating and a $95.00 price target for the company. Melius Research raised Performance Food Group to a “hold” rating in a research note on Wednesday, December 18th. Finally, Piper Sandler cut Performance Food Group from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $92.00 to $90.00 in a report on Friday, February 7th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Performance Food Group has a consensus rating of “Moderate Buy” and an average target price of $95.73.

Performance Food Group 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.