US Foods Holding Corp. (NYSE:USFD) Stake Cut by Sachem Head Capital Management LP

Sachem Head Capital Management LP reduced its holdings in shares of US Foods Holding Corp. (NYSE:USFD) by 64.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,825,000 shares of the company’s stock after selling 8,882,261 shares during the period. US Foods makes up 15.6% of Sachem Head Capital Management LP’s investment portfolio, making the stock its largest holding. Sachem Head Capital Management LP’s holdings in US Foods were worth $296,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quantinno Capital Management LP boosted its holdings in shares of US Foods by 37.5% in the third quarter. Quantinno Capital Management LP now owns 113,116 shares of the company’s stock valued at $6,957,000 after acquiring an additional 30,845 shares in the last quarter. Quarry LP acquired a new position in US Foods during the third quarter worth about $130,000. Redwood Investment Management LLC raised its position in US Foods by 4.1% during the third quarter. Redwood Investment Management LLC now owns 27,205 shares of the company’s stock worth $1,637,000 after acquiring an additional 1,066 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of US Foods during the third quarter worth about $5,446,000. Finally, HighTower Advisors LLC grew its holdings in shares of US Foods by 16.8% during the third quarter. HighTower Advisors LLC now owns 23,419 shares of the company’s stock worth $1,442,000 after buying an additional 3,368 shares in the last quarter. 98.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at US Foods

In related news, CFO Dirk J. Locascio sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on USFD shares. Wells Fargo & Company boosted their target price on shares of US Foods from $66.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of US Foods from $72.00 to $75.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of US Foods from $68.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Piper Sandler boosted their price objective on shares of US Foods from $61.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Truist Financial boosted their price objective on shares of US Foods from $66.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $71.09.

US Foods Price Performance

NYSE USFD opened at $71.99 on Thursday. The company has a 50 day simple moving average of $64.30 and a 200-day simple moving average of $58.21. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.19 and a quick ratio of 0.72. The firm has a market capitalization of $16.77 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 1.17 and a beta of 1.68. US Foods Holding Corp. has a 52-week low of $43.24 and a 52-week high of $72.04.

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.