US Foods (NYSE:USFD) Issues Earnings Results, Beats Estimates By $0.02 EPS

US Foods (NYSE:USFD) announced its quarterly earnings results on Thursday. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.02, Briefing.com reports. The firm had revenue of $10.19 billion during the quarter, compared to analysts’ expectations of $10.18 billion. US Foods had a net margin of 1.43% and a return on equity of 16.86%. US Foods’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.85 earnings per share.

US Foods Stock Up 2.1%

Shares of NYSE:USFD traded up $1.52 during trading on Friday, reaching $72.92. 149,626 shares of the stock were exchanged, compared to its average volume of 2,148,123. The firm has a market cap of $16.42 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 1.04 and a beta of 1.34. The stock has a fifty day moving average of $76.28 and a two-hundred day moving average of $76.54. US Foods has a 1-year low of $57.36 and a 1-year high of $85.11. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.17 and a quick ratio of 0.73.

Institutional Trading of US Foods

A number of large investors have recently bought and sold shares of USFD. AQR Capital Management LLC lifted its stake in US Foods by 14.7% in the second quarter. AQR Capital Management LLC now owns 2,910,755 shares of the company’s stock worth $224,157,000 after purchasing an additional 373,321 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of US Foods during the 2nd quarter worth approximately $64,220,000. Sei Investments Co. lifted its position in US Foods by 31.4% during the second quarter. Sei Investments Co. now owns 602,769 shares of the company’s stock valued at $46,420,000 after buying an additional 143,971 shares during the period. BNP Paribas Financial Markets boosted its stake in US Foods by 49.0% during the second quarter. BNP Paribas Financial Markets now owns 366,860 shares of the company’s stock worth $28,252,000 after acquiring an additional 120,583 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in US Foods by 21.0% during the 2nd quarter. Quantinno Capital Management LP now owns 302,069 shares of the company’s stock valued at $23,262,000 after buying an additional 52,360 shares in the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler upped their price objective on US Foods from $77.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of US Foods in a research report on Wednesday. Morgan Stanley reiterated an “overweight” rating and set a $89.00 price objective (up from $84.00) on shares of US Foods in a research note on Monday, July 14th. Guggenheim raised their price target on shares of US Foods from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, August 11th. Finally, UBS Group raised their price target on US Foods from $84.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, US Foods currently has an average rating of “Buy” and an average price target of $82.42.

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.