Nuveen Asset Management LLC Decreases Holdings in US Foods Holding Corp. (NYSE:USFD)

Posted by Defense World Staff on Feb 27th, 2023

Nuveen Asset Management LLC cut its stake in shares of US Foods Holding Corp. (NYSE:USFD – Get Rating) by 8.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,548,217 shares of the company’s stock after selling 135,951 shares during the period. Nuveen Asset Management LLC owned about 0.69% of US Foods worth $40,935,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in USFD. Twin Tree Management LP increased its stake in US Foods by 157.6% in the 3rd quarter. Twin Tree Management LP now owns 1,482 shares of the company’s stock worth $39,000 after buying an additional 4,056 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of US Foods by 53.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,492 shares of the company’s stock valued at $45,000 after purchasing an additional 519 shares in the last quarter. Costello Asset Management INC bought a new stake in shares of US Foods in the third quarter worth about $42,000. Covestor Ltd lifted its position in shares of US Foods by 744.8% in the first quarter. Covestor Ltd now owns 1,639 shares of the company’s stock worth $62,000 after buying an additional 1,445 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in US Foods by 29.9% during the 1st quarter. Captrust Financial Advisors now owns 2,144 shares of the company’s stock valued at $81,000 after buying an additional 493 shares in the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

US Foods Price Performance

Shares of USFD stock opened at $37.85 on Monday. US Foods Holding Corp. has a twelve month low of $25.49 and a twelve month high of $39.75. The stock has a market capitalization of $8.49 billion, a price-to-earnings ratio of 37.85 and a beta of 1.46. The stock has a fifty day simple moving average of $36.72 and a two-hundred day simple moving average of $33.07. The company has a current ratio of 1.37, a quick ratio of 0.79 and a debt-to-equity ratio of 1.20.

Insider Buying and Selling

In related news, EVP Jay Kvasnicka sold 2,590 shares of the company’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $38.01, for a total transaction of $98,445.90. Following the completion of the sale, the executive vice president now directly owns 63,049 shares in the company, valued at approximately $2,396,492.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Jay Kvasnicka sold 2,590 shares of the company’s stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $38.01, for a total transaction of $98,445.90. Following the transaction, the executive vice president now directly owns 63,049 shares of the company’s stock, valued at approximately $2,396,492.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sunil Gupta sold 5,756 shares of the company’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $39.29, for a total value of $226,153.24. Following the transaction, the director now directly owns 17,802 shares in the company, valued at $699,440.58. The disclosure for this sale can be found here. Insiders sold 70,152 shares of company stock worth $2,676,317 in the last three months. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Credit Suisse Group lifted their price objective on US Foods from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Friday, February 17th. Truist Financial boosted their target price on US Foods to $43.00 in a research report on Wednesday, November 16th. Morgan Stanley boosted their target price on US Foods from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, February 17th. TheStreet raised US Foods from a “c+” rating to a “b-” rating in a research report on Tuesday, December 6th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on US Foods from $44.00 to $41.00 in a research report on Friday, November 11th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.90.

US Foods Profile

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US Foods Holding Corp. operates as a foodservice distributor. Its products include frozen and dry food and non-food products to foodservice customers throughout the U.S. The company offers services under brands Chef’s Line, del Pasado, Glenview Farms, Cattleman’s Selection, Cross Valley Farms, Harbor Banks, Hilltop Hearth, Devonshire, and Metro Deli.