Bank of America Corp DE Acquires 512,511 Shares of US Foods Holding Corp. $USFD

Key Points

• Bank of America increased its US Foods stake by 50.9% in the first quarter, purchasing 512,511 additional shares for a total holding of 1.52 million shares valued at approximately $140.2 million.
• Institutional investors own 98.76% of US Foods. The stock opened at $100.58, near its 12-month high, with a market capitalization of $22.15 billion.
• US Foods reported quarterly revenue of $9.61 billion, up 2.8% year over year, but earnings of $0.78 per share fell short of the $0.82 consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $107.

Bank of America Corp DE boosted its holdings in shares of US Foods Holding Corp. (NYSE:USFD - Free Report) by 50.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,520,296 shares of the company's stock after purchasing an additional 512,511 shares during the period. Bank of America Corp DE owned about 0.69% of US Foods worth $140,186,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of US Foods by 47.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 107,928 shares of the company's stock valued at $8,129,000 after buying an additional 34,814 shares during the period. Fifth Third Bancorp grew its holdings in shares of US Foods by 2,548.1% in the first quarter. Fifth Third Bancorp now owns 75,392 shares of the company's stock worth $6,952,000 after acquiring an additional 72,545 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new stake in US Foods during the fourth quarter valued at $4,221,000. Mitsubishi UFJ Trust & Banking Corp increased its position in US Foods by 239.4% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 38,924 shares of the company's stock valued at $2,932,000 after acquiring an additional 27,454 shares during the last quarter. Finally, Premier Fund Managers Ltd bought a new position in US Foods in the fourth quarter valued at about $23,818,000. Hedge funds and other institutional investors own 98.76% of the company's stock.

US Foods Stock Up 1.6%

Shares of USFD opened at $100.58 on Thursday. The business's 50 day moving average is $95.36 and its 200 day moving average is $91.67. The company has a market capitalization of $22.15 billion, a PE ratio of 33.86, a price-to-earnings-growth ratio of 1.26 and a beta of 0.81. US Foods Holding Corp. has a 12-month low of $69.88 and a 12-month high of $105.17. The company has a current ratio of 1.14, a quick ratio of 0.70 and a debt-to-equity ratio of 1.16.

US Foods (NYSE:USFD - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.04). US Foods had a return on equity of 19.37% and a net margin of 1.71%.The business had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $9.66 billion. During the same quarter in the previous year, the company earned $0.68 earnings per share. The company's revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts expect that US Foods Holding Corp. will post 4.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

USFD has been the topic of several research reports. Morgan Stanley raised their target price on US Foods from $94.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 15th. Piper Sandler reduced their price target on shares of US Foods from $103.00 to $88.00 and set a "neutral" rating for the company in a research report on Monday, June 1st. TD Cowen initiated coverage on shares of US Foods in a research note on Tuesday, July 7th. They issued a "buy" rating and a $116.00 price objective on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of US Foods in a report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of US Foods from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, US Foods has an average rating of "Moderate Buy" and a consensus target price of $107.00.

About US Foods

US Foods NYSE: USFD is a leading foodservice distributor in the United States that supplies a wide range of products and services to professional food operators. The company provides fresh, frozen and dry food items as well as non-food restaurant supplies and kitchen equipment. Its customer base includes independent restaurants, multi-unit chains, healthcare and senior living facilities, hospitality businesses, government and educational institutions, and other foodservice operators.

Beyond commodity and branded food products, US Foods offers value-added solutions designed to help customers run their businesses.

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