Northern Trust Corp Reduces Position in US Foods Holding Corp. $USFD

Key Points

• Northern Trust Corp reduced its stake in US Foods Holding Corp. by 1.4%, owning approximately 0.87% of the company worth $130.95 million after selling 28,940 shares.
• US Foods reported earnings of $1.19 per share, surpassing estimates, and had a revenue of $10.08 billion, slightly below expectations of $10.17 billion.
• Several analysts raised their price targets for US Foods, with Guggenheim setting it at $88.00 and UBS Group at $96.00, both maintaining a "buy" rating on the stock.

Northern Trust Corp lessened its stake in shares of US Foods Holding Corp. (NYSE:USFD - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,000,479 shares of the company's stock after selling 28,940 shares during the period. Northern Trust Corp owned approximately 0.87% of US Foods worth $130,951,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of USFD. Boston Partners boosted its holdings in shares of US Foods by 29.1% in the 1st quarter. Boston Partners now owns 16,457,351 shares of the company's stock valued at $1,076,225,000 after acquiring an additional 3,713,345 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of US Foods by 21.8% in the 1st quarter. Invesco Ltd. now owns 7,546,048 shares of the company's stock valued at $493,964,000 after acquiring an additional 1,350,034 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of US Foods by 1.7% in the 4th quarter. Ameriprise Financial Inc. now owns 2,136,356 shares of the company's stock valued at $144,119,000 after acquiring an additional 36,307 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of US Foods by 194.6% in the 1st quarter. Primecap Management Co. CA now owns 1,941,400 shares of the company's stock valued at $127,084,000 after acquiring an additional 1,282,379 shares during the last quarter. Finally, Burgundy Asset Management Ltd. purchased a new stake in shares of US Foods in the 1st quarter valued at $110,245,000. Hedge funds and other institutional investors own 98.76% of the company's stock.

US Foods Stock Performance

Shares of NYSE USFD opened at $78.0320 on Friday. The company's fifty day moving average price is $79.66 and its 200 day moving average price is $72.81. US Foods Holding Corp. has a 1 year low of $56.47 and a 1 year high of $85.11. The company has a market capitalization of $17.57 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.73 and a current ratio of 1.17.

US Foods (NYSE:USFD - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.05. US Foods had a net margin of 1.43% and a return on equity of 16.86%. The firm had revenue of $10.08 billion for the quarter, compared to the consensus estimate of $10.17 billion. During the same period in the prior year, the firm posted $0.93 earnings per share. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. US Foods has set its FY 2025 guidance at 3.764-3.874 EPS. On average, research analysts predict that US Foods Holding Corp. will post 3.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Guggenheim upped their price objective on shares of US Foods from $80.00 to $88.00 and gave the company a "buy" rating in a report on Monday, August 11th. UBS Group upped their price objective on shares of US Foods from $84.00 to $96.00 and gave the company a "buy" rating in a report on Monday, July 28th. Barclays upped their price objective on shares of US Foods from $85.00 to $95.00 and gave the company an "overweight" rating in a report on Wednesday, June 4th. Morgan Stanley reaffirmed an "overweight" rating and issued a $89.00 price objective (up from $84.00) on shares of US Foods in a report on Monday, July 14th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $87.00 price target (up from $80.00) on shares of US Foods in a report on Friday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $80.55.

Insiders Place Their Bets

In other US Foods news, EVP Dirk J. Locascio sold 7,500 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $600,000.00. Following the completion of the transaction, the executive vice president directly owned 115,077 shares in the company, valued at approximately $9,206,160. This represents a 6.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company's stock.

About US Foods

US Foods Holding Corp., together with its subsidiaries, engages in marketing, sale, and distribution of 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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