Sachem Head Capital Management LP reduced its position in US Foods Holding Corp. (NYSE:USFD - Free Report) by 64.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,825,000 shares of the company's stock after selling 8,882,261 shares during the quarter. US Foods makes up about 15.6% of Sachem Head Capital Management LP's investment portfolio, making the stock its biggest holding. Sachem Head Capital Management LP owned approximately 2.07% of US Foods worth $296,738,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in USFD. Public Sector Pension Investment Board increased its position in US Foods by 100.2% in the third quarter. Public Sector Pension Investment Board now owns 6,000 shares of the company's stock worth $369,000 after buying an additional 2,500,000 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of US Foods by 46.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,550,945 shares of the company's stock worth $347,069,000 after purchasing an additional 2,064,321 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of US Foods during the third quarter valued at $121,196,000. Interval Partners LP lifted its holdings in US Foods by 371.2% in the second quarter. Interval Partners LP now owns 1,866,842 shares of the company's stock worth $98,905,000 after purchasing an additional 1,470,630 shares during the period. Finally, Ensign Peak Advisors Inc grew its position in US Foods by 175.8% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,090,291 shares of the company's stock valued at $57,764,000 after buying an additional 694,999 shares in the last quarter. 98.76% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on USFD. UBS Group upped their price target on shares of US Foods from $67.00 to $77.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on US Foods from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Wells Fargo & Company lifted their target price on US Foods from $66.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. Truist Financial raised their price objective on shares of US Foods from $66.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, November 8th. Finally, StockNews.com upgraded shares of US Foods from a "buy" rating to a "strong-buy" rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $71.09.
Check Out Our Latest Stock Report on USFD
Insider Buying and Selling at US Foods
In related news, CFO Dirk J. Locascio sold 10,000 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $57.95, for a total value of $579,500.00. Following the completion of the transaction, the chief financial officer now directly owns 88,563 shares in the company, valued at approximately $5,132,225.85. This represents a 10.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company's stock.
US Foods Stock Performance
Shares of NYSE:USFD traded up $0.62 during trading on Thursday, reaching $72.61. The stock had a trading volume of 1,026,067 shares, compared to its average volume of 1,808,273. The firm has a market capitalization of $16.91 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 1.17 and a beta of 1.68. The company has a quick ratio of 0.72, a current ratio of 1.19 and a debt-to-equity ratio of 1.01. US Foods Holding Corp. has a 52 week low of $43.24 and a 52 week high of $72.84. The stock has a fifty day simple moving average of $64.30 and a two-hundred day simple moving average of $58.21.
About US Foods
(
Free Report)
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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