Quinn Opportunity Partners LLC Grows Position in United Natural Foods, Inc. $UNFI

Quinn Opportunity Partners LLC grew its stake in United Natural Foods, Inc. (NYSE:UNFI) by 23.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,000 shares of the company’s stock after buying an additional 19,169 shares during the quarter. Quinn Opportunity Partners LLC owned approximately 0.17% of United Natural Foods worth $2,331,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in UNFI. Nuveen LLC purchased a new position in United Natural Foods during the first quarter valued at approximately $24,171,000. American Century Companies Inc. raised its holdings in United Natural Foods by 20.6% during the first quarter. American Century Companies Inc. now owns 2,433,948 shares of the company’s stock valued at $66,666,000 after acquiring an additional 415,700 shares during the period. Cubist Systematic Strategies LLC boosted its stake in shares of United Natural Foods by 428.7% in the first quarter. Cubist Systematic Strategies LLC now owns 270,262 shares of the company’s stock worth $7,402,000 after acquiring an additional 219,145 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of United Natural Foods during the first quarter worth about $4,571,000. Finally, Algert Global LLC raised its stake in United Natural Foods by 325.9% during the 1st quarter. Algert Global LLC now owns 195,455 shares of the company’s stock valued at $5,354,000 after purchasing an additional 149,565 shares during the period. 87.63% of the stock is owned by hedge funds and other institutional investors.

United Natural Foods Stock Down 0.1%

Shares of NYSE:UNFI opened at $39.53 on Wednesday. United Natural Foods, Inc. has a 52-week low of $20.55 and a 52-week high of $43.29. The stock has a market cap of $2.41 billion, a P/E ratio of -20.27 and a beta of 0.88. The business’s 50 day moving average is $35.94 and its 200 day moving average is $29.72. The company has a quick ratio of 0.51, a current ratio of 1.32 and a debt-to-equity ratio of 1.20.

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

Wall Street Analyst Weigh In

UNFI has been the topic of several analyst reports. UBS Group boosted their price objective on United Natural Foods from $29.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of United Natural Foods in a report on Tuesday, October 14th. The Goldman Sachs Group raised their price objective on shares of United Natural Foods from $29.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. BMO Capital Markets upped their target price on United Natural Foods from $36.00 to $48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Finally, Northcoast Research raised United Natural Foods from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, United Natural Foods currently has an average rating of “Hold” and a consensus price target of $36.00.

Insider Activity

In related news, insider Danielle Benedict sold 11,655 shares of the business’s stock in a transaction that occurred 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 owned 89,544 shares in the company, valued at $3,161,798.64. The trade was a 11.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.

About United Natural Foods

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.