United Natural Foods (NYSE:UNFI) Price Target Cut to $9.00 by Analysts at Wells Fargo & Co

United Natural Foods (NYSE:UNFI) had its price target dropped by analysts at Wells Fargo & Co from $10.00 to $9.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm presently has a “market perform” rating on the stock. Wells Fargo & Co‘s price target indicates a potential upside of 5.63% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Buckingham Research reaffirmed a “neutral” rating and set a $11.00 target price (down previously from $17.00) on shares of United Natural Foods in a research note on Thursday, June 6th. They noted that the move was a valuation call. Loop Capital decreased their target price on United Natural Foods to $14.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. BMO Capital Markets cut United Natural Foods from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $10.00 to $5.00 in a research note on Friday, August 2nd. Pivotal Research reaffirmed a “sell” rating and set a $6.00 target price (down previously from $8.00) on shares of United Natural Foods in a research note on Thursday, June 6th. Finally, BidaskClub raised United Natural Foods from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 20th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. United Natural Foods has a consensus rating of “Hold” and a consensus target price of $16.06.

Shares of UNFI stock traded down $2.55 on Wednesday, hitting $8.52. The company had a trading volume of 65,680 shares, compared to its average volume of 1,200,043. The firm has a market cap of $583.39 million, a P/E ratio of 2.70, a P/E/G ratio of 0.81 and a beta of 2.11. The stock’s 50-day moving average is $9.74 and its two-hundred day moving average is $10.73. The company has a debt-to-equity ratio of 2.00, a quick ratio of 0.68 and a current ratio of 1.73. United Natural Foods has a twelve month low of $6.75 and a twelve month high of $30.29.

United Natural Foods (NYSE:UNFI) last issued its quarterly earnings results on Tuesday, October 1st. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.08). United Natural Foods had a negative net margin of 1.54% and a positive return on equity of 7.17%. The company had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the company posted $0.76 EPS. The company’s quarterly revenue was up 147.2% on a year-over-year basis. Equities research analysts predict that United Natural Foods will post 2.28 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in United Natural Foods by 3.2% in the second quarter. BlackRock Inc. now owns 7,746,160 shares of the company’s stock valued at $69,484,000 after acquiring an additional 240,001 shares during the period. Vanguard Group Inc. lifted its holdings in shares of United Natural Foods by 10.1% in the second quarter. Vanguard Group Inc. now owns 5,548,900 shares of the company’s stock valued at $49,774,000 after purchasing an additional 509,989 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of United Natural Foods by 247.3% in the second quarter. Bank of America Corp DE now owns 2,383,841 shares of the company’s stock valued at $21,383,000 after purchasing an additional 1,697,419 shares in the last quarter. Towle & Co. lifted its holdings in shares of United Natural Foods by 27.9% in the second quarter. Towle & Co. now owns 2,000,497 shares of the company’s stock valued at $17,944,000 after purchasing an additional 436,960 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of United Natural Foods by 162.6% in the second quarter. Invesco Ltd. now owns 1,238,590 shares of the company’s stock valued at $11,110,000 after purchasing an additional 766,843 shares in the last quarter. 93.13% of the stock is owned by hedge funds and other institutional investors.

United Natural Foods Company 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.

Featured Story: What are popular green investing opportunities?

Analyst Recommendations for United Natural Foods (NYSE:UNFI)

Receive News & Ratings for United Natural Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Natural Foods and related companies with MarketBeat.com's FREE daily email newsletter.