Lombard Odier Asset Management USA Corp acquired a new stake in shares of US Foods Holding Corp. (NYSE:USFD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 74,400 shares of the company’s stock, valued at approximately $2,836,000.
Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC boosted its position in shares of US Foods by 58,898.7% during the first quarter. Lazard Asset Management LLC now owns 1,019,498 shares of the company’s stock valued at $38,863,000 after buying an additional 1,017,770 shares during the last quarter. Sunriver Management LLC boosted its position in shares of US Foods by 26.5% during the fourth quarter. Sunriver Management LLC now owns 994,503 shares of the company’s stock valued at $33,127,000 after buying an additional 208,348 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new position in US Foods in the first quarter worth about $1,317,000. Envestnet Asset Management Inc. boosted its position in US Foods by 58.6% in the first quarter. Envestnet Asset Management Inc. now owns 62,075 shares of the company’s stock worth $2,366,000 after purchasing an additional 22,947 shares during the last quarter. Finally, Virginia Retirement Systems ET AL boosted its position in US Foods by 2.1% in the first quarter. Virginia Retirement Systems ET AL now owns 24,700 shares of the company’s stock worth $942,000 after purchasing an additional 500 shares during the last quarter. 92.55% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on US Foods from $38.00 to $44.00 and gave the stock a “neutral” rating in a research report on Monday, April 12th. They noted that the move was a valuation call. BTIG Research raised their target price on US Foods from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, March 31st. Morgan Stanley raised their target price on US Foods from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 11th. Piper Sandler assumed coverage on US Foods in a research report on Friday, April 9th. They issued an “overweight” rating and a $45.00 target price on the stock. Finally, Zacks Investment Research raised US Foods from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research report on Friday, May 14th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $41.70.
US Foods (NYSE:USFD) last issued its earnings results on Monday, May 10th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.09. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $5.94 billion. US Foods had a positive return on equity of 1.45% and a negative net margin of 0.52%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company earned $0.26 EPS. Equities analysts predict that US Foods Holding Corp. will post 1.56 EPS for the current fiscal year.
In other US Foods news, CFO Dirk J. Locascio sold 21,529 shares of the firm’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $40.00, for a total transaction of $861,160.00. Following the completion of the transaction, the chief financial officer now owns 119,600 shares in the company, valued at approximately $4,784,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Pietro Satriano sold 133,561 shares of the firm’s stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $39.00, for a total value of $5,208,879.00. Following the transaction, the chief executive officer now owns 683,339 shares of the company’s stock, valued at approximately $26,650,221. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
About US Foods
US Foods Holding Corp., through its subsidiary, US Foods, Inc, markets and distributes fresh, frozen, and dry food and non-food products to foodservice customers in the United States. The company's customers include independently owned single and multi-unit restaurants, regional concepts, national restaurant chains, hospitals, nursing homes, hotels and motels, country clubs, government and military organizations, colleges and universities, and retail locations.
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