United Natural Foods, Inc. (UNFI) Given “Sell” Rating at Pivotal Research

United Natural Foods, Inc. (NASDAQ:UNFI)‘s stock had its “sell” rating reissued by stock analysts at Pivotal Research in a research report issued to clients and investors on Tuesday. They currently have a $32.00 price target on the stock. Pivotal Research’s target price would suggest a potential downside of 11.16% from the stock’s previous close.

The analysts wrote, “Wed., 9/13. We also expect some preliminary commentary on FY18 guidance. Notably, the Amazon buyout of Whole Foods was announced after UNFI’s 3Q results on 6/6. We think the potential for Whole Foods to source directly will be greatly enhanced under Amazon’s stewardship. For 4Q17, the impact of recently announced restructuring activities should be offset by the gain related to UNFI’s equity stake in Kicking Horse Coffee. Despite two consecutive restructurings announced by UNFI in FY17, core earnings are still to decline in 4Q. The FY18 guidance should better reflect organic revenue trends following the heavy wave of acquisition activity in FY16. We estimate organic revenue growth at UNFI is around 4% (below category growth of around 8%).””

UNFI has been the subject of several other reports. BMO Capital Markets set a $38.00 target price on shares of United Natural Foods and gave the company a “hold” rating in a report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $38.00 target price (down previously from $44.00) on shares of United Natural Foods in a research report on Sunday, June 25th. Royal Bank Of Canada set a $34.00 target price on shares of United Natural Foods and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $33.00 target price (down previously from $36.00) on shares of United Natural Foods in a research report on Monday, June 19th. Finally, BidaskClub raised shares of United Natural Foods from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.57.

Shares of United Natural Foods (NASDAQ:UNFI) traded up 0.56% during mid-day trading on Tuesday, hitting $36.22. The stock had a trading volume of 366,215 shares. The firm has a market cap of $1.83 billion, a PE ratio of 14.55 and a beta of 1.39. United Natural Foods has a 52-week low of $29.53 and a 52-week high of $49.74. The stock’s 50-day moving average price is $36.05 and its 200-day moving average price is $39.31.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of United Natural Foods by 16,599.3% during 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 in the last quarter. Jennison Associates LLC purchased a new stake in shares of United Natural Foods during the 2nd quarter valued at about $716,000. Peregrine Capital Management LLC raised its position in shares of United Natural Foods by 2.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 144,481 shares of the company’s stock valued at $5,302,000 after buying an additional 2,881 shares in the last quarter. Adirondack Research & Management Inc. purchased a new stake in shares of United Natural Foods during the 2nd quarter valued at about $1,725,000. Finally, GAM Holding AG purchased a new stake in shares of United Natural Foods during the 2nd quarter valued at about $1,156,000.

United Natural Foods Company Profile

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.

Analyst Recommendations for United Natural Foods (NASDAQ:UNFI)

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