State of Michigan Retirement System Buys 900 Shares of Performance Food Group (NYSE:PFGC)

State of Michigan Retirement System raised its stake in shares of Performance Food Group (NYSE:PFGC) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,203 shares of the food distribution company’s stock after buying an additional 900 shares during the period. State of Michigan Retirement System’s holdings in Performance Food Group were worth $2,851,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PFGC. Mariner LLC grew its position in shares of Performance Food Group by 3.6% in the third quarter. Mariner LLC now owns 12,222 shares of the food distribution company’s stock valued at $719,000 after purchasing an additional 424 shares during the last quarter. Stifel Financial Corp grew its position in shares of Performance Food Group by 6.1% in the third quarter. Stifel Financial Corp now owns 44,953 shares of the food distribution company’s stock valued at $2,646,000 after purchasing an additional 2,595 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Performance Food Group by 39.6% in the third quarter. O Shaughnessy Asset Management LLC now owns 5,137 shares of the food distribution company’s stock valued at $302,000 after purchasing an additional 1,456 shares during the last quarter. Sei Investments Co. grew its position in shares of Performance Food Group by 71.9% in the third quarter. Sei Investments Co. now owns 318,001 shares of the food distribution company’s stock valued at $18,718,000 after purchasing an additional 133,035 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Performance Food Group by 333.1% in the third quarter. The Manufacturers Life Insurance Company now owns 504,311 shares of the food distribution company’s stock valued at $29,684,000 after purchasing an additional 387,869 shares during the last quarter. 96.87% of the stock is currently owned by institutional investors.

Performance Food Group Stock Down 0.3 %

NYSE PFGC opened at $64.39 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.77 and a debt-to-equity ratio of 0.96. The stock’s 50 day moving average is $69.11 and its two-hundred day moving average is $71.26. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 0.80 and a beta of 1.42. Performance Food Group has a 1-year low of $52.92 and a 1-year high of $78.54.

Performance Food Group (NYSE:PFGC) last released its quarterly earnings data on Wednesday, May 8th. The food distribution company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The company had revenue of $13.86 billion for the quarter, compared to analyst estimates of $14.10 billion. Performance Food Group had a net margin of 0.72% and a return on equity of 16.22%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. Equities analysts forecast that Performance Food Group will post 4.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PFGC shares. Barclays lowered their price target on Performance Food Group from $86.00 to $84.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Morgan Stanley lifted their target price on Performance Food Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, April 12th. Finally, StockNews.com raised Performance Food Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.14.

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.