IndexIQ Advisors LLC increased its position in shares of United Natural Foods, Inc. (NASDAQ:UNFI) by 83.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,050 shares of the company’s stock after buying an additional 9,096 shares during the quarter. IndexIQ Advisors LLC’s holdings in United Natural Foods were worth $834,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in UNFI. BlackRock Inc. grew its position in United Natural Foods by 16,599.3% during the first quarter. BlackRock Inc. now owns 5,252,416 shares of the company’s stock worth $227,062,000 after buying an additional 5,220,963 shares in the last quarter. Kiltearn Partners LLP acquired a new stake in United Natural Foods during the second quarter worth about $74,701,000. Dimensional Fund Advisors LP grew its position in United Natural Foods by 30.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,010,466 shares of the company’s stock worth $147,183,000 after buying an additional 939,946 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its position in United Natural Foods by 161.6% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,509,167 shares of the company’s stock worth $55,386,000 after buying an additional 932,281 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in United Natural Foods by 349.1% during the second quarter. Alliancebernstein L.P. now owns 359,287 shares of the company’s stock worth $13,186,000 after buying an additional 279,291 shares in the last quarter.
In related news, CFO Michael Paul Zechmeister sold 11,500 shares of the business’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $44.06, for a total value of $506,690.00. Following the completion of the transaction, the chief financial officer now owns 1,997 shares in the company, valued at approximately $87,987.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph J. Traficanti sold 5,800 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $43.25, for a total transaction of $250,850.00. Following the completion of the transaction, the senior vice president now owns 10,113 shares of the company’s stock, valued at approximately $437,387.25. The disclosure for this sale can be found here. Insiders sold a total of 61,498 shares of company stock valued at $2,659,539 in the last 90 days. 1.40% of the stock is currently owned by corporate insiders.
United Natural Foods, Inc. (UNFI) opened at $39.89 on Monday. The company has a quick ratio of 0.90, a current ratio of 2.36 and a debt-to-equity ratio of 0.22. United Natural Foods, Inc. has a 1 year low of $29.53 and a 1 year high of $49.74. The firm has a market cap of $2,027.06, a P/E ratio of 15.52, a P/E/G ratio of 2.92 and a beta of 1.38.
United Natural Foods (NASDAQ:UNFI) last posted its quarterly earnings data on Wednesday, September 13th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.02. United Natural Foods had a net margin of 1.40% and a return on equity of 8.10%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the company posted $0.70 EPS. United Natural Foods’s revenue was up 5.7% on a year-over-year basis. analysts expect that United Natural Foods, Inc. will post 2.71 earnings per share for the current fiscal year.
United Natural Foods declared that its board has authorized a stock repurchase program on Friday, October 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
UNFI has been the topic of a number of recent research reports. Pivotal Research reissued a “sell” rating and set a $32.00 target price on shares of United Natural Foods in a research report on Tuesday, September 12th. Royal Bank Of Canada set a $34.00 price objective on United Natural Foods and gave the company a “hold” rating in a report on Sunday, July 16th. Bank of America Corporation reaffirmed an “underperform” rating and set a $36.00 price objective (up from $35.00) on shares of United Natural Foods in a report on Thursday, September 14th. Zacks Investment Research raised United Natural Foods from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Tuesday, October 10th. Finally, TheStreet raised United Natural Foods from a “c” rating to a “b-” rating in a report on Thursday, October 5th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. United Natural Foods currently has a consensus rating of “Hold” and a consensus price target of $42.33.
United Natural Foods Profile
United Natural Foods, Inc is a distributor and retailer of natural, organic and specialty products. The Company’s segments include Wholesale and Other. The Wholesale segment is engaged in the national distribution of natural, organic and specialty foods, produce and related products in the United States and Canada.
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