United Natural Foods, Inc. (NASDAQ:UNFI) – Analysts at Oppenheimer dropped their Q2 2018 earnings per share (EPS) estimates for shares of United Natural Foods in a research note issued to investors on Thursday. Oppenheimer analyst R. Parikh now forecasts that the company will post earnings per share of $0.52 for the quarter, down from their previous forecast of $0.54. Oppenheimer currently has a “Hold” rating on the stock. Oppenheimer also issued estimates for United Natural Foods’ Q3 2018 earnings at $0.85 EPS, Q4 2018 earnings at $0.78 EPS, FY2018 earnings at $2.75 EPS and FY2019 earnings at $2.88 EPS.
United Natural Foods (NASDAQ:UNFI) last released its earnings results on Thursday, December 7th. The company reported $0.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.39 billion. United Natural Foods had a return on equity of 8.04% and a net margin of 1.39%. During the same period last year, the firm earned $0.58 EPS.
Several other research firms have also recently commented on UNFI. BMO Capital Markets reissued a “market perform” rating and issued a $40.00 target price (up from $38.00) on shares of United Natural Foods in a research note on Thursday, September 14th. Argus raised United Natural Foods from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Monday, September 25th. Royal Bank of Canada cut United Natural Foods from a “sector perform” rating to an “underperform” rating and decreased their price objective for the stock from $36.00 to $34.00 in a research note on Tuesday, October 17th. Jefferies Group reaffirmed a “hold” rating on shares of United Natural Foods in a research note on Monday, October 16th. Finally, Susquehanna Bancshares began coverage on United Natural Foods in a research note on Monday, October 16th. They set a “neutral” rating and a $43.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $43.33.
United Natural Foods (NASDAQ:UNFI) traded up $1.09 during midday trading on Monday, hitting $50.71. The stock had a trading volume of 1,614,200 shares, compared to its average volume of 807,365. The firm has a market cap of $2,500.89, a PE ratio of 19.01, a P/E/G ratio of 3.40 and a beta of 1.46. United Natural Foods has a one year low of $29.53 and a one year high of $52.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.25 and a quick ratio of 0.82.
Large investors have recently bought and sold shares of the business. Jennison Associates LLC acquired a new position in United Natural Foods in the second quarter valued at about $716,000. Adirondack Research & Management Inc. acquired a new position in United Natural Foods in the second quarter valued at about $1,725,000. GAM Holding AG acquired a new position in United Natural Foods in the second quarter valued at about $1,156,000. Pictet Asset Management Ltd. grew its stake in United Natural Foods by 22.6% in the third quarter. Pictet Asset Management Ltd. now owns 319,191 shares of the company’s stock valued at $13,275,000 after acquiring an additional 58,779 shares during the period. Finally, Alliancebernstein L.P. grew its stake in United Natural Foods by 349.1% in the second quarter. Alliancebernstein L.P. now owns 359,287 shares of the company’s stock valued at $13,186,000 after acquiring an additional 279,291 shares during the period.
In other United Natural Foods news, insider John Michael Hummel sold 1,407 shares of the business’s stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $40.72, for a total value of $57,293.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Sean Griffin sold 6,521 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $44.60, for a total value of $290,836.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,498 shares of company stock valued at $2,659,539. Insiders own 1.40% of the company’s stock.
United Natural Foods declared that its board has initiated a share repurchase plan on Friday, October 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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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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