United Natural Foods (NASDAQ:UNFI) was upgraded by research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a $43.00 price objective on the stock, up from their prior price objective of $32.00. Barclays’ price objective would suggest a potential downside of 11.50% from the company’s previous close.
A number of other analysts have also commented on the stock. Loop Capital set a $56.00 target price on shares of United Natural Foods and gave the stock a “buy” rating in a report on Friday, December 8th. Goldman Sachs Group reissued a “neutral” rating and set a $41.00 price target on shares of United Natural Foods in a research report on Tuesday, November 14th. TheStreet cut shares of United Natural Foods from a “b-” rating to a “c+” rating in a research report on Friday, October 27th. Zacks Investment Research raised shares of United Natural Foods from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Tuesday, October 10th. Finally, BMO Capital Markets set a $54.00 price target on shares of United Natural Foods and gave the stock a “hold” rating in a research report on Saturday, December 9th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $44.67.
United Natural Foods (UNFI) traded up $0.79 on Tuesday, reaching $48.59. 535,500 shares of the company’s stock were exchanged, compared to its average volume of 1,037,736. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.25. United Natural Foods has a 12-month low of $29.53 and a 12-month high of $52.69. The firm has a market cap of $2,409.16, a price-to-earnings ratio of 18.83, a PEG ratio of 2.77 and a beta of 1.46.
United Natural Foods announced that its board has approved a stock repurchase plan on Friday, October 6th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, COO Sean Griffin sold 12,351 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $49.41, for a total value of $610,262.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Steven Spinner sold 49,026 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $49.49, for a total transaction of $2,426,296.74. Following the completion of the sale, the chief executive officer now directly owns 102,637 shares in the company, valued at $5,079,505.13. The disclosure for this sale can be found here. Insiders sold a total of 103,191 shares of company stock worth $5,140,875 over the last ninety days. 1.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC lifted its position in United Natural Foods by 80.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,695 shares of the company’s stock valued at $172,000 after acquiring an additional 2,095 shares in the last quarter. Balasa Dinverno & Foltz LLC bought a new stake in United Natural Foods in the 3rd quarter valued at $208,000. Bell Bank bought a new stake in United Natural Foods in the 3rd quarter valued at $210,000. Flinton Capital Management LLC lifted its position in United Natural Foods by 76.9% in the 2nd quarter. Flinton Capital Management LLC now owns 5,152 shares of the company’s stock valued at $189,000 after acquiring an additional 2,240 shares in the last quarter. Finally, First Republic Investment Management Inc. bought a new stake in United Natural Foods in the 3rd quarter valued at $218,000.
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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