“We’ve now modeled capex at around 1.0% of sales for FY19-20 (from 0.6% previously). Despite surging revenue, guidance raise seems all tax cut driven – There is little substantive change in the pre-tax earnings range based on each recent guidance revision. After stripping out the impact of the tax rate changes, we estimate that the implied pre-tax income range for FY18 is around $229-$235 million (virtually unchanged from the prior range). The upside in the latest guidance appears to be driven almost entirely by the tax rate. The takeaway is that there is little or no flow through to earnings from the improving top-line outlook. We would infer that most of this incremental volume is coming from Amazon.”,” the firm’s analyst commented.
A number of other equities research analysts have also recently commented on UNFI. Goldman Sachs reissued a neutral rating and issued a $41.00 target price on shares of United Natural Foods in a research note on Tuesday, November 14th. BidaskClub raised United Natural Foods from a hold rating to a buy rating in a research note on Saturday, December 2nd. Royal Bank of Canada reissued an underperform rating and issued a $34.00 target price on shares of United Natural Foods in a research note on Monday, December 4th. Oppenheimer reissued a hold rating on shares of United Natural Foods in a research note on Tuesday, December 5th. Finally, Loop Capital set a $56.00 target price on United Natural Foods and gave the stock a buy rating in a research note on Friday, December 8th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $44.69.
United Natural Foods (NASDAQ:UNFI) last issued its quarterly earnings results on Thursday, March 8th. The company reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.17. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.45 billion. United Natural Foods had a return on equity of 8.49% and a net margin of 1.61%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 earnings per share. equities research analysts expect that United Natural Foods will post 3.09 earnings per share for the current fiscal year.
In other news, Director Peter Roy sold 3,990 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $43.95, for a total transaction of $175,360.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.40% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Old Mutual Global Investors UK Ltd. bought a new position in United Natural Foods in the fourth quarter valued at about $112,000. C M Bidwell & Associates Ltd. bought a new position in United Natural Foods in the fourth quarter valued at about $127,000. Strs Ohio lifted its holdings in United Natural Foods by 440.0% in the fourth quarter. Strs Ohio now owns 2,700 shares of the company’s stock valued at $133,000 after acquiring an additional 2,200 shares during the period. We Are One Seven LLC bought a new position in United Natural Foods in the fourth quarter valued at about $176,000. Finally, BSW Wealth Partners bought a new position in United Natural Foods in the fourth quarter valued at about $200,000.
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About United Natural Foods
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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