US Foods (USFD) Shares Gap Up Following Better-Than-Expected Earnings

US Foods Holding Corp (NYSE:USFD)’s share price gapped up before the market opened on Wednesday following a stronger than expected earnings report. The stock had previously closed at $32.66, but opened at $31.63. US Foods shares last traded at $31.65, with a volume of 957840 shares trading hands.

The company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.04. US Foods had a net margin of 2.25% and a return on equity of 12.66%. The firm had revenue of $6.15 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s revenue was down .8% compared to the same quarter last year.

A number of research firms have recently issued reports on USFD. TheStreet downgraded shares of US Foods from a “b-” rating to a “c+” rating in a research report on Wednesday, September 5th. Zacks Investment Research downgraded shares of US Foods from a “hold” rating to a “sell” rating in a research report on Saturday. Pivotal Research restated a “hold” rating and issued a $33.00 price target on shares of US Foods in a research report on Tuesday, July 31st. Wells Fargo & Co raised their price target on shares of US Foods from $42.00 to $48.00 and gave the stock a “$39.60” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. Finally, Citigroup reduced their price target on shares of US Foods from $45.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, August 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $37.93.

A number of large investors have recently modified their holdings of USFD. The Manufacturers Life Insurance Company increased its stake in US Foods by 47.0% during the 1st quarter. The Manufacturers Life Insurance Company now owns 11,041 shares of the company’s stock valued at $362,000 after buying an additional 3,532 shares during the period. LPL Financial LLC acquired a new position in US Foods during the 1st quarter valued at about $406,000. Legal & General Group Plc increased its stake in US Foods by 31.8% during the 1st quarter. Legal & General Group Plc now owns 174,523 shares of the company’s stock valued at $5,719,000 after buying an additional 42,111 shares during the period. Allianz Asset Management GmbH increased its stake in US Foods by 142.6% during the 1st quarter. Allianz Asset Management GmbH now owns 159,311 shares of the company’s stock valued at $5,221,000 after buying an additional 93,641 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in US Foods by 48.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 24,240 shares of the company’s stock valued at $916,000 after buying an additional 7,930 shares during the period.

The company has a market cap of $6.34 billion, a P/E ratio of 34.76, a PEG ratio of 0.60 and a beta of 0.36. The company has a current ratio of 1.39, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16.

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US Foods Company Profile (NYSE:USFD)

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. Its 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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