Shares of United Natural Foods Inc (NASDAQ:UNFI) rose 7.9% during mid-day trading on Friday . The company traded as high as $7.56 and last traded at $7.47, approximately 871,222 shares changed hands during trading. A decline of 32% from the average daily volume of 1,276,845 shares. The stock had previously closed at $6.92.
UNFI has been the subject of a number of research reports. BMO Capital Markets downgraded shares of United Natural Foods from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $10.00 to $5.00 in a research report on Friday, August 2nd. Pivotal Research reiterated a “sell” rating and set a $6.00 price target (down from $8.00) on shares of United Natural Foods in a research report on Thursday, June 6th. Loop Capital reduced their price target 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. 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. Finally, Buckingham Research reiterated a “neutral” rating and set a $11.00 price target (down 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 research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $18.59.
The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.74 and a current ratio of 1.59. The stock has a market capitalization of $372.88 million, a price-to-earnings ratio of 2.40, a P/E/G ratio of 0.82 and a beta of 2.15. The company has a 50-day moving average of $9.04 and a 200-day moving average of $11.66.
United Natural Foods (NASDAQ:UNFI) last issued its quarterly earnings data on Wednesday, June 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. United Natural Foods had a return on equity of 8.58% and a net margin of 1.09%. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the previous year, the firm posted $1.04 EPS. The company’s quarterly revenue was up 125.1% compared to the same quarter last year. As a group, analysts expect that United Natural Foods Inc will post 1.73 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in United Natural Foods by 3.2% in the 2nd quarter. BlackRock Inc. now owns 7,746,160 shares of the company’s stock worth $69,484,000 after acquiring an additional 240,001 shares during the period. Vanguard Group Inc. grew its stake in United Natural Foods by 10.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,548,900 shares of the company’s stock worth $49,774,000 after acquiring an additional 509,989 shares during the period. Bank of America Corp DE grew its stake in United Natural Foods by 247.3% in the 2nd quarter. Bank of America Corp DE now owns 2,383,841 shares of the company’s stock worth $21,383,000 after acquiring an additional 1,697,419 shares during the period. Towle & Co. grew its stake in United Natural Foods by 27.9% in the 2nd quarter. Towle & Co. now owns 2,000,497 shares of the company’s stock worth $17,944,000 after acquiring an additional 436,960 shares during the period. Finally, Invesco Ltd. grew its stake in United Natural Foods by 162.6% in the 2nd quarter. Invesco Ltd. now owns 1,238,590 shares of the company’s stock worth $11,110,000 after acquiring an additional 766,843 shares during the period. 98.17% of the stock is owned by hedge funds and other institutional investors.
About United Natural Foods (NASDAQ:UNFI)
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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