Jennison Associates LLC reduced its stake in shares of US Foods Holding Corp (NYSE:USFD) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,230,348 shares of the company’s stock after selling 129,109 shares during the period. Jennison Associates LLC owned approximately 1.03% of US Foods worth $84,352,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Meeder Asset Management Inc. grew its holdings in US Foods by 181.3% during the first quarter. Meeder Asset Management Inc. now owns 3,333 shares of the company’s stock worth $109,000 after acquiring an additional 2,148 shares during the period. First Mercantile Trust Co. acquired a new position in shares of US Foods in the 2nd quarter valued at $122,000. Financial Gravity Wealth Inc. acquired a new position in shares of US Foods in the 1st quarter valued at $158,000. Nisa Investment Advisors LLC acquired a new stake in US Foods during the 2nd quarter worth about $189,000. Finally, Creative Planning acquired a new stake in US Foods during the 2nd quarter worth about $222,000.
NYSE USFD traded up $0.36 on Friday, reaching $32.59. The company had a trading volume of 1,751,000 shares, compared to its average volume of 2,660,556. The company has a market capitalization of $7.02 billion, a PE ratio of 35.47, a P/E/G ratio of 0.66 and a beta of 0.17. The company has a current ratio of 1.39, a quick ratio of 0.81 and a debt-to-equity ratio of 1.16. US Foods Holding Corp has a 52 week low of $25.43 and a 52 week high of $40.92.
Several equities research analysts have recently issued reports on the company. TheStreet upgraded US Foods from a “c” rating to a “b-” rating in a report on Friday, May 25th. ValuEngine raised US Foods from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Wells Fargo & Co lifted their price target on 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. Pivotal Research reaffirmed a “hold” rating and issued a $33.00 price target on shares of US Foods in a research report on Monday, May 7th. Finally, Citigroup lifted their price objective on US Foods from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. US Foods has a consensus rating of “Hold” and an average target price of $38.50.
In related news, insider Jay Kvasnicka sold 42,685 shares of the stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $37.18, for a total transaction of $1,587,028.30. Following the completion of the transaction, the insider now directly owns 22,293 shares of the company’s stock, valued at $828,853.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Rickard sold 8,588 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $37.47, for a total value of $321,792.36. Following the completion of the sale, the insider now owns 32,130 shares in the company, valued at approximately $1,203,911.10. The disclosure for this sale can be found here. 0.57% of the stock is owned by corporate insiders.
US Foods Profile
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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