US Foods (NYSE:USFD) Issues FY24 Earnings Guidance

US Foods (NYSE:USFD - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.00-3.20 for the period, compared to the consensus estimate of $3.11. The company issued revenue guidance of $37.5-38.5 billion, compared to the consensus revenue estimate of $37.79 billion. US Foods also updated its FY 2024 guidance to 3.000-3.200 EPS.

US Foods Stock Performance

Shares of NYSE:USFD traded up $2.41 during trading on Thursday, hitting $54.79. The stock had a trading volume of 3,103,502 shares, compared to its average volume of 1,736,214. US Foods has a 12-month low of $35.66 and a 12-month high of $55.39. The stock has a 50-day simple moving average of $52.16 and a two-hundred day simple moving average of $47.33. The company has a quick ratio of 0.78, a current ratio of 1.30 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $13.44 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 0.86 and a beta of 1.58.

US Foods (NYSE:USFD - Get Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.60 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.04). The business had revenue of $8.94 billion for the quarter, compared to analyst estimates of $8.81 billion. US Foods had a net margin of 1.42% and a return on equity of 13.41%. On average, equities research analysts expect that US Foods will post 2.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on USFD shares. Morgan Stanley boosted their target price on shares of US Foods from $60.00 to $62.00 and gave the company an overweight rating in a research report on Friday, April 12th. BTIG Research boosted their target price on shares of US Foods from $52.00 to $62.00 and gave the company a buy rating in a research report on Tuesday, March 19th. Piper Sandler upgraded shares of US Foods from a neutral rating to an overweight rating and boosted their target price for the company from $45.00 to $59.00 in a research report on Tuesday, February 20th. StockNews.com upgraded shares of US Foods from a buy rating to a strong-buy rating in a research report on Friday, February 23rd. Finally, Truist Financial boosted their target price on shares of US Foods from $52.00 to $57.00 and gave the stock a buy rating in a research note on Tuesday, February 20th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, US Foods has a consensus rating of Buy and a consensus price target of $54.92.

Insiders Place Their Bets

In other US Foods news, EVP David A. Rickard sold 50,000 shares of US Foods stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $52.52, for a total transaction of $2,626,000.00. Following the transaction, the executive vice president now directly owns 148,561 shares of the company's stock, valued at $7,802,423.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

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.