Rhumbline Advisers increased its holdings in shares of United Natural Foods Inc (NYSE:UNFI) by 7.3% during the third quarter, Holdings Channel reports. The fund owned 170,692 shares of the company’s stock after acquiring an additional 11,659 shares during the quarter. Rhumbline Advisers’ holdings in United Natural Foods were worth $1,966,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of UNFI. Investors Research Corp increased its position in United Natural Foods by 45.3% during the 2nd quarter. Investors Research Corp now owns 3,850 shares of the company’s stock worth $35,000 after buying an additional 1,200 shares during the period. NumerixS Investment Technologies Inc increased its position in United Natural Foods by 96.4% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 5,500 shares of the company’s stock worth $49,000 after buying an additional 2,700 shares during the period. Glen Harbor Capital Management LLC increased its position in United Natural Foods by 41.9% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 8,784 shares of the company’s stock worth $79,000 after buying an additional 2,592 shares during the period. Point72 Hong Kong Ltd increased its position in United Natural Foods by 64.8% during the 2nd quarter. Point72 Hong Kong Ltd now owns 9,349 shares of the company’s stock worth $84,000 after buying an additional 3,675 shares during the period. Finally, Covington Capital Management bought a new position in United Natural Foods during the 2nd quarter worth $90,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Wells Fargo & Co lowered their price objective on United Natural Foods from $10.00 to $9.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 2nd. BMO Capital Markets cut 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 report on Friday, August 2nd. BidaskClub upgraded United Natural Foods from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 20th. Pivotal Research lowered their price objective on United Natural Foods from $6.00 to $3.00 and set a “sell” rating on the stock in a research report on Thursday, October 3rd. Finally, Loop Capital lowered their price objective on United Natural Foods to $14.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Five equities research analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. United Natural Foods currently has a consensus rating of “Hold” and a consensus price target of $13.07.
United Natural Foods (NYSE:UNFI) last released its earnings results on Tuesday, October 1st. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.08). The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.42 billion. United Natural Foods had a positive return on equity of 6.59% and a negative net margin of 1.33%. The business’s revenue for the quarter was up 147.2% compared to the same quarter last year. During the same period last year, the company posted $0.76 earnings per share. On average, research analysts predict that United Natural Foods Inc will post 1.34 earnings per share for the current fiscal year.
In related news, Director Peter Roy bought 10,000 shares of United Natural Foods stock in a transaction dated Monday, October 7th. The shares were bought at an average cost of $7.50 per share, with a total value of $75,000.00. Following the acquisition, the director now owns 49,154 shares in the company, valued at approximately $368,655. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Muehlbauer acquired 30,000 shares of United Natural Foods stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average cost of $6.91 per share, for a total transaction of $207,300.00. Following the completion of the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at $207,300. The disclosure for this purchase can be found here. Corporate insiders own 1.80% of the company’s stock.
United Natural Foods 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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