US Foods (NYSE:USFD) Posts Earnings Results, Beats Expectations By $0.02 EPS

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

US Foods Stock Down 3.7%

Shares of US Foods stock traded down $2.74 on Thursday, reaching $71.36. 3,488,979 shares of the company were exchanged, compared to its average volume of 1,706,437. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.17 and a quick ratio of 0.73. The stock’s 50 day moving average price is $76.28 and its 200-day moving average price is $76.54. The company has a market cap of $16.07 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.04 and a beta of 1.34. US Foods has a 1-year low of $57.36 and a 1-year high of $85.11.

Hedge Funds Weigh In On US Foods

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sivia Capital Partners LLC acquired a new position in US Foods in the second quarter valued at $526,000. Daiwa Securities Group Inc. boosted its stake in US Foods by 5.3% in the second quarter. Daiwa Securities Group Inc. now owns 21,900 shares of the company’s stock valued at $1,687,000 after acquiring an additional 1,100 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in US Foods by 2.5% in the second quarter. SkyView Investment Advisors LLC now owns 20,601 shares of the company’s stock valued at $1,592,000 after acquiring an additional 501 shares in the last quarter. FORA Capital LLC acquired a new stake in shares of US Foods in the 2nd quarter valued at about $1,033,000. Finally, Tidal Investments LLC boosted its position in shares of US Foods by 28.9% in the 2nd quarter. Tidal Investments LLC now owns 12,733 shares of the company’s stock valued at $981,000 after purchasing an additional 2,854 shares during the period. 98.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

USFD has been the subject of several research reports. Morgan Stanley reiterated an “overweight” rating and issued a $89.00 target price (up previously from $84.00) on shares of US Foods in a report on Monday, July 14th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $87.00 price objective (up from $80.00) on shares of US Foods in a research note on Friday, August 8th. Sanford C. Bernstein started coverage on US Foods in a research report on Wednesday, October 22nd. They issued an “outperform” rating and a $95.00 target price for the company. Piper Sandler lifted their price objective on shares of US Foods from $77.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Finally, Guggenheim lifted 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. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, US Foods currently has a consensus rating of “Buy” and a consensus target price of $82.42.

US Foods Company Profile

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.