Cannon Global Investment Management LLC Acquires New Stake in US Foods Holding Corp. (NYSE:USFD)

Cannon Global Investment Management LLC bought a new position in shares of US Foods Holding Corp. (NYSE:USFD) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $675,000. US Foods makes up approximately 1.5% of Cannon Global Investment Management LLC’s investment portfolio, making the stock its 21st largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LPL Financial LLC grew its holdings in shares of US Foods by 12.1% during the fourth quarter. LPL Financial LLC now owns 108,598 shares of the company’s stock worth $7,326,000 after buying an additional 11,735 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in US Foods during the 4th quarter worth approximately $3,218,000. Hillsdale Investment Management Inc. bought a new position in shares of US Foods during the 4th quarter worth approximately $758,000. Sei Investments Co. raised its holdings in shares of US Foods by 52.3% in the fourth quarter. Sei Investments Co. now owns 471,717 shares of the company’s stock valued at $31,822,000 after purchasing an additional 161,887 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of US Foods in the fourth quarter worth $1,002,000. Institutional investors and hedge funds own 98.76% of the company’s stock.

US Foods Stock Performance

USFD opened at $64.36 on Monday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.21 and a quick ratio of 0.71. The company has a market capitalization of $14.83 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 1.03 and a beta of 1.65. The business has a fifty day simple moving average of $68.85 and a 200 day simple moving average of $66.23. US Foods Holding Corp. has a 1 year low of $49.65 and a 1 year high of $73.19.

US Foods (NYSE:USFD) last announced its earnings results on Thursday, February 13th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.01). US Foods had a net margin of 1.30% and a return on equity of 15.03%. The business had revenue of $9.49 billion during the quarter, compared to the consensus estimate of $9.47 billion. Research analysts expect that US Foods Holding Corp. will post 3.59 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on USFD. Morgan Stanley lifted their price target on shares of US Foods from $76.00 to $82.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Jefferies Financial Group upped their target price on US Foods from $79.00 to $82.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Melius initiated coverage on US Foods in a research report on Wednesday, December 18th. They set a “buy” rating and a $12.00 price target for the company. StockNews.com lowered US Foods from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Truist Financial increased their price objective on US Foods from $78.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 14th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $71.09.

Insiders Place Their Bets

In other news, Director David W. Bullock bought 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were acquired at an average price of $71.06 per share, for a total transaction of $284,240.00. Following the completion of the acquisition, the director now directly owns 4,500 shares in the company, valued at approximately $319,770. This represents a 800.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.70% of the company’s stock.

About US Foods

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.