United Natural Foods (UNFI) Stock Price Down 11.1% on Insider Selling

United Natural Foods, Inc. (NASDAQ:UNFI) shares traded down 11.1% during trading on Thursday following insider selling activity. The stock traded as low as $43.68 and last traded at $43.93. 3,162,447 shares changed hands during mid-day trading, an increase of 135% from the average session volume of 1,348,482 shares. The stock had previously closed at $49.42.

Specifically, CEO Steven Spinner sold 49,026 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $49.49, for a total value of $2,426,296.74. Following the completion of the transaction, the chief executive officer now directly owns 102,637 shares of the company’s stock, valued at approximately $5,079,505.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Craig Harder Smith sold 6,253 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $49.59, for a total value of $310,086.27. Following the completion of the transaction, the senior vice president now directly owns 14,871 shares of the company’s stock, valued at $737,452.89. The disclosure for this sale can be found here. Insiders sold a total of 107,258 shares of company stock valued at $5,305,712 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

UNFI has been the topic of a number of analyst reports. Pivotal Research reiterated a “sell” rating and set a $32.00 target price on shares of United Natural Foods in a report on Tuesday, September 12th. BidaskClub upgraded United Natural Foods from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Royal Bank of Canada reiterated an “underperform” rating and set a $34.00 target price on shares of United Natural Foods in a report on Monday, December 4th. Argus upgraded United Natural Foods from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Monday, September 25th. Finally, Zacks Investment Research upgraded United Natural Foods from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, October 10th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. United Natural Foods currently has a consensus rating of “Hold” and an average target price of $43.33.

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.25 and a quick ratio of 0.82. The firm has a market cap of $2,260.00, a price-to-earnings ratio of 17.40, a PEG ratio of 3.09 and a beta of 1.46.

United Natural Foods (NASDAQ:UNFI) last posted its quarterly earnings data on Thursday, December 7th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60. United Natural Foods had a return on equity of 8.04% and a net margin of 1.39%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the firm earned $0.58 earnings per share. equities research analysts forecast that United Natural Foods, Inc. will post 2.74 earnings per share for the current year.

United Natural Foods announced that its board has initiated a stock repurchase program on Friday, October 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of UNFI. Kiltearn Partners LLP acquired a new stake in shares of United Natural Foods during the second quarter worth $74,701,000. Dimensional Fund Advisors LP boosted its holdings in shares of 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 purchasing an additional 939,946 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of United Natural Foods during the third quarter worth $14,835,000. Alliancebernstein L.P. boosted its holdings in shares of 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 purchasing an additional 279,291 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in shares of United Natural Foods by 842.2% during the second quarter. Gotham Asset Management LLC now owns 289,022 shares of the company’s stock worth $10,607,000 after purchasing an additional 258,346 shares during the last quarter.

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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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