United Natural Foods (NYSE:UNFI) Posts Earnings Results, Hits Estimates

United Natural Foods (NYSE:UNFI) released its quarterly earnings results on Tuesday. The company reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77, FiscalAI reports. United Natural Foods had a negative net margin of 0.25% and a positive return on equity of 6.05%. The company had revenue of $7.72 billion for the quarter, compared to analyst estimates of $7.80 billion.

United Natural Foods Trading Down 7.0%

Shares of United Natural Foods stock opened at $51.64 on Tuesday. United Natural Foods has a 1 year low of $20.78 and a 1 year high of $57.02. The firm has a market cap of $3.14 billion, a PE ratio of -39.73 and a beta of 0.81. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.33 and a quick ratio of 0.52. The company has a 50 day simple moving average of $49.14 and a two-hundred day simple moving average of $41.05.

Wall Street Analysts Forecast Growth

UNFI has been the subject of several recent research reports. BMO Capital Markets lifted their target price on shares of United Natural Foods from $48.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 11th. Wall Street Zen downgraded shares of United Natural Foods from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. Wells Fargo & Company upgraded shares of United Natural Foods from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $40.00 to $56.00 in a research note on Thursday, March 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of United Natural Foods from $40.00 to $46.00 and gave the stock a “hold” rating in a research note on Thursday, March 12th. Finally, UBS Group lifted their target price on shares of United Natural Foods from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, United Natural Foods presently has an average rating of “Hold” and a consensus price target of $43.63.

Insider Transactions at United Natural Foods

In other United Natural Foods news, insider Danielle Benedict sold 4,807 shares of United Natural Foods stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $52.00, for a total transaction of $249,964.00. Following the completion of the sale, the insider directly owned 98,470 shares in the company, valued at $5,120,440. The trade was a 4.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On United Natural Foods

A number of hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in United Natural Foods during the 3rd quarter valued at $29,000. Larson Financial Group LLC raised its holdings in United Natural Foods by 4,266.7% during the 3rd quarter. Larson Financial Group LLC now owns 786 shares of the company’s stock valued at $30,000 after buying an additional 768 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in United Natural Foods by 84.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,332 shares of the company’s stock valued at $31,000 after buying an additional 609 shares during the last quarter. Arax Advisory Partners raised its holdings in United Natural Foods by 37.4% during the 4th quarter. Arax Advisory Partners now owns 1,102 shares of the company’s stock valued at $37,000 after buying an additional 300 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in United Natural Foods during the 4th quarter valued at $38,000. 87.63% of the stock is currently owned by institutional investors.

United Natural Foods Company Profile

United Natural Foods, Inc (NYSE: UNFI) is a leading distributor of natural, organic and specialty foods in North America. Founded in 1976 and headquartered in Providence, Rhode Island, the company has grown through strategic acquisitions and organic expansion to become one of the largest food distributors serving retail, foodservice and e-commerce customers.

UNFI’s core business centers on the procurement, warehousing and distribution of a broad portfolio of products, including fresh produce, groceries, frozen foods, dairy, bakery items, beverages, supplements and household essentials.