United Natural Foods (NASDAQ:UNFI) Downgraded to “Underperform” at BMO Capital Markets

BMO Capital Markets cut shares of United Natural Foods (NASDAQ:UNFI) from a market perform rating to an underperform rating in a report published on Friday morning, BenzingaRatingsTable reports. The firm currently has $5.00 price objective on the stock, down from their previous price objective of $10.00.

A number of other brokerages have also issued reports on UNFI. Pivotal Research reiterated a sell rating and issued a $6.00 target price (down previously from $8.00) on shares of United Natural Foods in a research report on Thursday, June 6th. Zacks Investment Research upgraded shares of United Natural Foods from a sell rating to a hold rating in a research report on Tuesday, May 21st. Loop Capital decreased their target price on shares of United Natural Foods to $21.00 and set a buy rating for the company in a research report on Thursday, June 6th. BidaskClub upgraded shares of United Natural Foods from a sell rating to a hold rating in a research report on Tuesday, July 2nd. Finally, Buckingham Research reiterated a neutral rating and issued a $11.00 target price (down previously from $17.00) on shares of United Natural Foods in a research report on Thursday, June 6th. They noted that the move was a valuation call. Six analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $18.59.

Shares of United Natural Foods stock traded down $0.92 during trading on Friday, hitting $8.42. 3,108,590 shares of the stock were exchanged, compared to its average volume of 1,301,432. The company has a fifty day moving average of $9.41. The stock has a market cap of $443.77 million, a PE ratio of 2.71, a PEG ratio of 0.82 and a beta of 2.15. The company has a current ratio of 1.59, a quick ratio of 0.74 and a debt-to-equity ratio of 1.77. United Natural Foods has a 12 month low of $7.60 and a 12 month high of $35.63.

United Natural Foods (NASDAQ:UNFI) last announced its earnings results on Wednesday, June 5th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.10. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.21 billion. United Natural Foods had a net margin of 1.09% and a return on equity of 8.58%. United Natural Foods’s revenue was up 125.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. Sell-side analysts expect that United Natural Foods will post 1.73 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new stake in United Natural Foods in the 4th quarter valued at about $9,162,000. Royce & Associates LP lifted its holdings in United Natural Foods by 15.8% in the 1st quarter. Royce & Associates LP now owns 796,666 shares of the company’s stock valued at $10,532,000 after acquiring an additional 108,959 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in United Natural Foods by 21.4% in the 4th quarter. Bank of New York Mellon Corp now owns 777,876 shares of the company’s stock valued at $8,237,000 after acquiring an additional 137,158 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in United Natural Foods by 85.8% in the 4th quarter. Principal Financial Group Inc. now owns 436,534 shares of the company’s stock valued at $4,623,000 after acquiring an additional 201,549 shares during the last quarter. Finally, Winslow Asset Management Inc. lifted its holdings in United Natural Foods by 26.0% in the 1st quarter. Winslow Asset Management Inc. now owns 262,140 shares of the company’s stock valued at $3,465,000 after acquiring an additional 54,135 shares during the last quarter. 98.17% of the stock is owned by institutional investors.

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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Analyst Recommendations for United Natural Foods (NASDAQ:UNFI)

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