United Natural Foods (NASDAQ:UNFI)‘s stock had its “hold” rating reiterated by investment analysts at Oppenheimer in a research note issued on Tuesday.
Several other equities analysts have also issued reports on UNFI. BidaskClub lowered United Natural Foods from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Barclays reissued a “sell” rating and set a $32.00 target price on shares of United Natural Foods in a research note on Thursday, September 28th. Stephens started coverage on United Natural Foods in a research note on Friday, August 11th. They set an “equal weight” rating and a $50.00 target price on the stock. Royal Bank Of Canada reissued an “underperform” rating and set a $34.00 target price on shares of United Natural Foods in a research note on Monday. Finally, BMO Capital Markets set a $38.00 target price on United Natural Foods and gave the stock a “hold” rating in a research note on Tuesday, August 29th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $41.89.
Shares of United Natural Foods (UNFI) traded down $2.98 during trading on Tuesday, hitting $49.51. The stock had a trading volume of 1,714,300 shares, compared to its average volume of 790,059. United Natural Foods has a twelve month low of $29.53 and a twelve month high of $52.69. The firm has a market cap of $2,667.35, a price-to-earnings ratio of 20.42, a PEG ratio of 3.85 and a beta of 1.46. The company has a current ratio of 2.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.
United Natural Foods (NASDAQ:UNFI) last announced its quarterly earnings results on Wednesday, September 13th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. United Natural Foods had a return on equity of 8.10% and a net margin of 1.40%. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the company posted $0.70 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. research analysts expect that United Natural Foods will post 2.71 earnings per share for the current year.
United Natural Foods announced that its Board of Directors has authorized a stock buyback program on Friday, October 6th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other United Natural Foods news, Director Bates Ann Torre sold 7,190 shares of the company’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $40.16, for a total transaction of $288,750.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael Paul Zechmeister sold 11,500 shares of the company’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $44.06, for a total value of $506,690.00. Following the sale, the chief financial officer now owns 1,997 shares in the company, valued at approximately $87,987.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,498 shares of company stock worth $2,659,539. 1.40% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC purchased a new position in shares of United Natural Foods in the 3rd quarter valued at about $1,213,000. California Public Employees Retirement System increased its holdings in shares of United Natural Foods by 11.7% in the 3rd quarter. California Public Employees Retirement System now owns 73,632 shares of the company’s stock valued at $3,062,000 after acquiring an additional 7,732 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of United Natural Foods by 18.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 8,415 shares of the company’s stock valued at $350,000 after acquiring an additional 1,336 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of United Natural Foods by 112.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 15,105 shares of the company’s stock valued at $628,000 after acquiring an additional 8,005 shares during the last quarter. Finally, Kalos Management Inc. purchased a new position in shares of United Natural Foods in the 3rd quarter valued at about $652,000.
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About United Natural Foods
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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