United Natural Foods, Inc. (NYSE:UNFI) Receives $36.00 Average Target Price from Brokerages

Shares of United Natural Foods, Inc. (NYSE:UNFI) have received an average recommendation of “Hold” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $36.00.

UNFI has been the topic of a number of analyst reports. UBS Group boosted their price target on United Natural Foods from $29.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of United Natural Foods in a research note on Tuesday, October 14th. Jefferies Financial Group upped their price objective on United Natural Foods from $27.00 to $40.00 and gave the company a “hold” rating in a research report on Wednesday, October 1st. Wells Fargo & Company increased their price target on shares of United Natural Foods from $26.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 1st. Finally, Zacks Research raised shares of United Natural Foods from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 15th.

United Natural Foods Stock Performance

Shares of United Natural Foods stock opened at $38.51 on Thursday. United Natural Foods has a 12 month low of $20.55 and a 12 month high of $43.29. The firm has a market capitalization of $2.34 billion, a P/E ratio of -19.75 and a beta of 0.88. The company has a current ratio of 1.32, a quick ratio of 0.51 and a debt-to-equity ratio of 1.20. The business has a fifty day simple moving average of $35.49 and a two-hundred day simple moving average of $29.50.

United Natural Foods (NYSE:UNFI) last released its earnings results on Wednesday, October 1st. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.07. United Natural Foods had a negative net margin of 0.37% and a positive return on equity of 2.74%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.61 billion. During the same period in the prior year, the firm earned $0.01 EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, equities analysts forecast that United Natural Foods will post 0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Danielle Benedict sold 11,655 shares of the firm’s stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $35.31, for a total transaction of $411,538.05. Following the completion of the transaction, the insider directly owned 89,544 shares of the company’s stock, valued at approximately $3,161,798.64. This trade represents a 11.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of United Natural Foods

Several hedge funds have recently made changes to their positions in UNFI. Farther Finance Advisors LLC increased its stake in United Natural Foods by 88.3% during the second quarter. Farther Finance Advisors LLC now owns 1,077 shares of the company’s stock worth $25,000 after acquiring an additional 505 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of United Natural Foods by 1,672.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 975 shares of the company’s stock worth $27,000 after purchasing an additional 920 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of United Natural Foods by 84.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,332 shares of the company’s stock worth $31,000 after purchasing an additional 609 shares during the period. Smartleaf Asset Management LLC increased its position in shares of United Natural Foods by 32.0% during the 3rd quarter. Smartleaf Asset Management LLC now owns 1,563 shares of the company’s stock valued at $59,000 after purchasing an additional 379 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in United Natural Foods during the 2nd quarter valued at $66,000. 87.63% of the stock is currently owned by hedge funds and other institutional investors.

United Natural Foods Company Profile

United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. It operates in two segments, Wholesale and Retail. The company offers grocery and general merchandise, produce, perishables and frozen foods, wellness and personal care items, and bulk and foodservice products.