United Natural Foods Inc (NASDAQ:UNFI) Expected to Post Quarterly Sales of $6.44 Billion

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Brokerages predict that United Natural Foods Inc (NASDAQ:UNFI) will announce sales of $6.44 billion for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for United Natural Foods’ earnings, with the lowest sales estimate coming in at $6.38 billion and the highest estimate coming in at $6.52 billion. United Natural Foods reported sales of $2.59 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 148.6%. The company is expected to announce its next quarterly earnings report on Thursday, September 19th.

On average, analysts expect that United Natural Foods will report full-year sales of $21.33 billion for the current fiscal year, with estimates ranging from $21.06 billion to $21.50 billion. For the next fiscal year, analysts anticipate that the business will report sales of $24.07 billion, with estimates ranging from $23.44 billion to $24.42 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow United Natural Foods.

United Natural Foods (NASDAQ:UNFI) last posted its earnings results on Wednesday, June 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.10. The business had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.21 billion. United Natural Foods had a net margin of 1.09% and a return on equity of 8.58%. The business’s revenue for the quarter was up 125.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.04 EPS.

Several brokerages have recently weighed in on UNFI. BidaskClub cut shares of United Natural Foods from a “hold” rating to a “sell” rating in a research note on Saturday, August 17th. BMO Capital Markets cut shares of United Natural Foods from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $10.00 to $5.00 in a research note on Friday, August 2nd. Buckingham Research reiterated a “neutral” rating and issued a $11.00 price objective (down previously from $17.00) on shares of United Natural Foods in a research note on Thursday, June 6th. They noted that the move was a valuation call. Loop Capital lowered their price objective on shares of United Natural Foods to $21.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Finally, Zacks Investment Research upgraded shares of United Natural Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Seven equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $18.59.

A number of institutional investors and hedge funds have recently made changes to their positions in UNFI. Norges Bank purchased a new stake in United Natural Foods during the 4th quarter valued at approximately $9,162,000. Nisa Investment Advisors LLC grew its holdings in United Natural Foods by 5,000.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 10,200 shares of the company’s stock valued at $135,000 after buying an additional 10,000 shares in the last quarter. Investors Research Corp purchased a new stake in United Natural Foods during the 1st quarter valued at approximately $35,000. Oppenheimer Asset Management Inc. grew its holdings in United Natural Foods by 13.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 30,480 shares of the company’s stock valued at $403,000 after buying an additional 3,663 shares in the last quarter. Finally, Creative Planning purchased a new stake in United Natural Foods during the 1st quarter valued at approximately $598,000. 98.17% of the stock is owned by institutional investors and hedge funds.

UNFI traded down $0.45 during midday trading on Tuesday, hitting $7.75. 16,551 shares of the company traded hands, compared to its average volume of 1,257,429. The company has a quick ratio of 0.74, a current ratio of 1.59 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $408.46 million, a PE ratio of 2.49, a price-to-earnings-growth ratio of 0.82 and a beta of 2.15. The company’s 50-day moving average is $8.87 and its 200 day moving average is $11.50. United Natural Foods has a 52 week low of $6.75 and a 52 week high of $35.63.

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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