ROSEMONT, Ill. - US Foods Holding Corp . (NYSE: NYSE:USFD), a major player in the American foodservice distribution industry, announced the resignation of Scott Ferguson from its Board of Directors effective February 28, 2024. Ferguson, the Founder and Managing Partner of Sachem Head Capital Management LP, has served on the Board since March 2022.
During his tenure, Ferguson contributed to the strategic conversations and decisions at US Foods. His departure comes after two years of service, during which time the company has reportedly made significant progress. "I am confident that the company is positioned for further success under the strategic leadership of CEO Dave Flitman," Ferguson stated, expressing a positive outlook for the company's future and its upcoming June Investor Day.
Robert Dutkowsky, Chair of the Board, acknowledged Ferguson's contributions, describing him as an "invaluable and collaborative member" who brought "fresh perspective and insights" to the Board's deliberations.
The company's strategic direction and governance will continue to be guided by CEO Dave Flitman and the remaining Board members following Ferguson's departure.
US Foods, headquartered in Rosemont, Illinois, partners with around 250,000 restaurants and food service operators across the United States. The company operates more than 70 broad-line locations and about 90 cash and carry stores.
This announcement is based on a press release statement issued by US Foods.
InvestingPro Insights
In light of recent developments at US Foods Holding Corp. (NYSE: USFD), investors may find the following InvestingPro data and tips particularly relevant. As the company navigates changes in its board composition, it's important to consider the financial metrics and market sentiment that may influence its performance.
According to InvestingPro, US Foods is currently trading at a P/E ratio of 24.58, with a slight adjustment for the last twelve months as of Q4 2023 to 23.76. This valuation comes as the company shows a PEG ratio of 0.25 for the same period, suggesting a potential undervaluation relative to its earnings growth. Additionally, the company's revenue growth for the last twelve months stood at 4.52%, with a gross profit margin of 17.27%, indicating a solid financial footing.
InvestingPro Tips highlight that US Foods' stock price has experienced significant volatility, yet it is trading near its 52-week high with a price 99.22% of that peak. The company's stock has also seen a strong return over the last three months, with a total price return of 17.18%. Despite concerns about weak gross profit margins, the company's liquid assets exceed its short-term obligations, which may provide some financial stability.
For investors looking to delve deeper into the financial health and future prospects of US Foods, there are additional InvestingPro Tips available at https://www.investing.com/pro/USFD. These tips can provide further insights into the company's performance and market position. Additionally, users can take advantage of an exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, which includes a total of 12 additional tips for USFD.
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