US Foods Holding Corp (USFD) Expected to Announce Quarterly Sales of $5.98 Billion

Wall Street analysts forecast that US Foods Holding Corp (NASDAQ:USFD) will report sales of $5.98 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for US Foods Holding Corp’s earnings. The lowest sales estimate is $5.95 billion and the highest is $6.02 billion. US Foods Holding Corp reported sales of $5.81 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.9%. The firm is expected to report its next earnings results on Tuesday, August 8th.

On average, analysts expect that US Foods Holding Corp will report full-year sales of $5.98 billion for the current fiscal year, with estimates ranging from $23.41 billion to $23.73 billion. For the next financial year, analysts forecast that the firm will post sales of $24.54 billion per share, with estimates ranging from $24.23 billion to $24.74 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for US Foods Holding Corp.

US Foods Holding Corp (NASDAQ:USFD) last announced its earnings results on Tuesday, May 9th. The company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.02. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.78 billion. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year.

USFD has been the subject of several recent research reports. Royal Bank of Canada initiated coverage on US Foods Holding Corp in a research note on Tuesday, January 24th. They issued an “outperform” rating and a $32.00 price objective for the company. Guggenheim lifted their price objective on US Foods Holding Corp from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, January 30th. Wells Fargo & Co reiterated a “buy” rating on shares of US Foods Holding Corp in a research note on Wednesday, February 15th. Pivotal Research reiterated a “hold” rating on shares of US Foods Holding Corp in a research note on Thursday, February 16th. Finally, Zacks Investment Research cut US Foods Holding Corp from a “buy” rating to a “sell” rating in a research note on Saturday, February 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $29.71.

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In other US Foods Holding Corp news, Director John Anthony Lederer sold 598,950 shares of US Foods Holding Corp stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $28.25, for a total value of $16,920,337.50. Following the transaction, the director now directly owns 504,224 shares in the company, valued at approximately $14,244,328. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Pietro Satriano sold 89,932 shares of US Foods Holding Corp stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $28.25, for a total value of $2,540,579.00. Following the completion of the transaction, the insider now owns 164,366 shares in the company, valued at $4,643,339.50. The disclosure for this sale can be found here. Insiders sold a total of 23,344,441 shares of company stock worth $659,480,458 over the last quarter.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of US Foods Holding Corp by 120.1% in the first quarter. FMR LLC now owns 16,128,349 shares of the company’s stock valued at $451,271,000 after buying an additional 8,801,856 shares during the period. Vanguard Group Inc. increased its position in shares of US Foods Holding Corp by 72.2% in the first quarter. Vanguard Group Inc. now owns 7,553,056 shares of the company’s stock valued at $211,335,000 after buying an additional 3,167,548 shares during the period. BlackRock Inc. increased its position in shares of US Foods Holding Corp by 2,703.9% in the first quarter. BlackRock Inc. now owns 3,153,795 shares of the company’s stock valued at $88,245,000 after buying an additional 3,041,315 shares during the period. Bank of New York Mellon Corp increased its position in shares of US Foods Holding Corp by 1,232.3% in the first quarter. Bank of New York Mellon Corp now owns 2,349,118 shares of the company’s stock valued at $65,729,000 after buying an additional 2,172,804 shares during the period. Finally, Partners Group Holding AG bought a new position in shares of US Foods Holding Corp during the fourth quarter valued at $36,640,000.

About US Foods Holding Corp

US Foods Holding Corp. is a holding company. The Company is a foodservice distributor in the United States. The Company, through US Foods, Inc (USF), markets and primarily distributes fresh, frozen and dry food and non-food products to foodservice customers throughout the United States. These 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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