United Natural Foods, Inc. (NASDAQ:UNFI) was downgraded by TheStreet from a “b-” rating to a “c+” rating in a note issued to investors on Friday, October 27th.
Several other research analysts also recently weighed in on UNFI. Wells Fargo & Company reaffirmed a “hold” rating and set a $35.00 target price on shares of United Natural Foods in a research note on Thursday, June 29th. Loop Capital reiterated a “buy” rating and set a $50.00 price target (up from $44.00) on shares of United Natural Foods in a research report on Thursday, September 14th. Susquehanna Bancshares Inc assumed coverage on United Natural Foods in a research report on Monday, October 16th. They set a “neutral” rating and a $43.00 price target for the company. Royal Bank Of Canada set a $34.00 price target on United Natural Foods and gave the stock a “hold” rating in a research report on Sunday, July 16th. Finally, Zacks Investment Research upgraded United Natural Foods from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $41.89.
Shares of United Natural Foods (NASDAQ:UNFI) opened at $39.67 on Friday. The firm has a market capitalization of $2,010.00, a PE ratio of 15.45, a PEG ratio of 2.91 and a beta of 1.38. United Natural Foods has a 52 week low of $29.53 and a 52 week high of $49.61. The company has a current ratio of 2.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22.
United Natural Foods (NASDAQ:UNFI) last issued its earnings results on Wednesday, September 13th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.02. United Natural Foods had a return on equity of 8.10% and a net margin of 1.40%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. United Natural Foods’s revenue for the quarter was up 5.7% on a year-over-year basis. research analysts forecast that United Natural Foods will post 2.71 EPS for the current fiscal year.
United Natural Foods declared that its board has initiated a share repurchase program on Friday, October 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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In other United Natural Foods news, insider John Michael Hummel sold 1,407 shares of United Natural Foods stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $40.72, for a total value of $57,293.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Roy sold 2,660 shares of United Natural Foods stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $40.43, for a total value of $107,543.80. The disclosure for this sale can be found here. Insiders have sold a total of 61,498 shares of company stock worth $2,659,539 in the last 90 days. 1.40% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of UNFI. BlackRock Inc. lifted its holdings in shares of United Natural Foods by 16,599.3% in the 1st quarter. BlackRock Inc. now owns 5,252,416 shares of the company’s stock valued at $227,062,000 after buying an additional 5,220,963 shares during the period. Kiltearn Partners LLP acquired a new stake in shares of United Natural Foods in the 2nd quarter valued at approximately $74,701,000. Dimensional Fund Advisors LP lifted its holdings in shares of United Natural Foods by 30.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,010,466 shares of the company’s stock valued at $147,183,000 after buying an additional 939,946 shares during the period. Thompson Siegel & Walmsley LLC lifted its holdings in shares of United Natural Foods by 161.6% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,509,167 shares of the company’s stock valued at $55,386,000 after buying an additional 932,281 shares during the period. Finally, Hood River Capital Management LLC acquired a new stake in shares of United Natural Foods in the 3rd quarter valued at approximately $14,835,000.
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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