State of Michigan Retirement System Raises Stock Position in US Foods Holding Corp. (NYSE:USFD)

State of Michigan Retirement System lifted its stake in shares of US Foods Holding Corp. (NYSE:USFD) by 2.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 55,500 shares of the company’s stock after acquiring an additional 1,200 shares during the quarter. State of Michigan Retirement System’s holdings in US Foods were worth $2,995,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue boosted its stake in US Foods by 138.6% during the 4th quarter. State of Alaska Department of Revenue now owns 64,425 shares of the company’s stock worth $2,925,000 after purchasing an additional 37,425 shares during the period. Wellington Management Group LLP boosted its stake in US Foods by 7.5% during the 3rd quarter. Wellington Management Group LLP now owns 2,870,370 shares of the company’s stock worth $113,954,000 after purchasing an additional 199,269 shares during the period. Handelsinvest Investeringsforvaltning acquired a new stake in US Foods during the 4th quarter worth $1,269,000. Nordea Investment Management AB boosted its stake in US Foods by 102.1% during the 4th quarter. Nordea Investment Management AB now owns 109,958 shares of the company’s stock worth $4,991,000 after purchasing an additional 55,554 shares during the period. Finally, Oak Thistle LLC acquired a new stake in US Foods during the 4th quarter worth $1,639,000. Hedge funds and other institutional investors own 98.76% of the company’s stock.

Analysts Set New Price Targets

USFD has been the subject of a number of recent research reports. BTIG Research increased their price target on shares of US Foods from $52.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. UBS Group upped their price objective on shares of US Foods from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Barclays upped their price objective on shares of US Foods from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. JPMorgan Chase & Co. upped their price objective on shares of US Foods from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, June 3rd. Finally, Truist Financial upped their price objective on shares of US Foods from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $62.00.

US Foods Stock Performance

Shares of USFD opened at $53.06 on Thursday. The company has a 50-day simple moving average of $53.13 and a 200-day simple moving average of $50.56. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $13.05 billion, a PE ratio of 26.14, a P/E/G ratio of 0.87 and a beta of 1.62. US Foods Holding Corp. has a 52-week low of $35.66 and a 52-week high of $55.98.

US Foods (NYSE:USFD) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $8.95 billion during the quarter, compared to analysts’ expectations of $8.93 billion. US Foods had a net margin of 1.41% and a return on equity of 13.08%. Equities research analysts predict that US Foods Holding Corp. will post 2.92 earnings per share for the current fiscal year.

US Foods 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.