United Natural Foods Inc (NASDAQ:UNFI) Expected to Announce Quarterly Sales of $6.55 Billion

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Wall Street analysts predict that United Natural Foods Inc (NASDAQ:UNFI) will post sales of $6.55 billion for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for United Natural Foods’ earnings, with the lowest sales estimate coming in at $6.36 billion and the highest estimate coming in at $6.85 billion. United Natural Foods posted sales of $2.59 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 152.9%. The firm is scheduled to issue its next earnings results on Thursday, September 19th.

On average, analysts expect that United Natural Foods will report full year sales of $21.48 billion for the current year, with estimates ranging from $21.06 billion to $21.74 billion. For the next year, analysts forecast that the company will report sales of $24.51 billion, with estimates ranging from $23.44 billion to $25.10 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for United Natural Foods.

United Natural Foods (NASDAQ:UNFI) last issued its earnings results on Wednesday, June 5th. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.10. The business had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.21 billion. United Natural Foods had a net margin of 1.09% and a return on equity of 8.58%. The firm’s revenue for the quarter was up 125.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.04 earnings per share.

A number of equities analysts recently weighed in on UNFI shares. BidaskClub upgraded shares of United Natural Foods from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Loop Capital lowered their target price on shares of United Natural Foods to $30.00 and set a “buy” rating on the stock in a report on Wednesday, March 6th. Pivotal Research cut shares of United Natural Foods from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $14.00 to $8.00 in a research report on Thursday, March 7th. Barclays cut shares of United Natural Foods from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, March 12th. Finally, Zacks Investment Research raised shares of United Natural Foods from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, March 19th. Five research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $18.98.

UNFI traded down $0.50 during trading on Thursday, reaching $10.27. 746,709 shares of the stock were exchanged, compared to its average volume of 1,349,732. The company has a market cap of $541.27 million, a price-to-earnings ratio of 3.30, a PEG ratio of 0.82 and a beta of 2.15. United Natural Foods has a twelve month low of $9.23 and a twelve month high of $44.94. The company has a current ratio of 1.59, a quick ratio of 0.74 and a debt-to-equity ratio of 1.77.

Hedge funds have recently added to or reduced their stakes in the business. Kalos Management Inc. boosted its position in United Natural Foods by 7.1% during the fourth quarter. Kalos Management Inc. now owns 21,664 shares of the company’s stock worth $229,000 after purchasing an additional 1,427 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in United Natural Foods during the fourth quarter worth $155,000. New York State Teachers Retirement System boosted its position in United Natural Foods by 20.1% during the fourth quarter. New York State Teachers Retirement System now owns 108,411 shares of the company’s stock worth $1,148,000 after purchasing an additional 18,120 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of United Natural Foods in the fourth quarter valued at about $195,000. Finally, Norges Bank bought a new stake in shares of United Natural Foods in the fourth quarter valued at about $9,162,000. 98.17% of the stock is owned by hedge funds and other institutional investors.

United Natural Foods Company Profile

United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. The Wholesale division offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care products.

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