$2.36 Billion in Sales Expected for United Natural Foods, Inc. (NASDAQ:UNFI) This Quarter
Brokerages expect United Natural Foods, Inc. (NASDAQ:UNFI) to report $2.36 billion in sales for the current quarter, Zacks reports. Four analysts have provided estimates for United Natural Foods’ earnings. The lowest sales estimate is $2.36 billion and the highest is $2.37 billion. United Natural Foods reported sales of $2.21 billion during the same quarter last year, which would suggest a positive year over year growth rate of 6.8%. The business is expected to report its next earnings report on Monday, September 11th.
On average, analysts expect that United Natural Foods will report full year sales of $2.36 billion for the current fiscal year, with estimates ranging from $9.29 billion to $9.30 billion. For the next year, analysts forecast that the firm will post sales of $9.73 billion per share, with estimates ranging from $9.55 billion to $9.85 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for United Natural Foods.
United Natural Foods (NASDAQ:UNFI) last released its earnings results on Tuesday, June 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.42 billion. United Natural Foods had a return on equity of 8.21% and a net margin of 1.38%. United Natural Foods’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share.
UNFI has been the topic of a number of recent analyst reports. Zacks Investment Research raised United Natural Foods from a “sell” rating to a “hold” rating in a research note on Saturday, March 25th. Jefferies Group LLC reaffirmed a “hold” rating and set a $44.00 price target on shares of United Natural Foods in a research note on Tuesday, April 11th. Deutsche Bank AG set a $46.00 price target on United Natural Foods and gave the company a “hold” rating in a research note on Tuesday, April 11th. Citigroup Inc. reaffirmed a “buy” rating and set a $49.00 price target (down previously from $54.00) on shares of United Natural Foods in a research note on Saturday, April 22nd. Finally, Loop Capital assumed coverage on United Natural Foods in a research note on Monday, May 15th. They set a “buy” rating and a $48.00 price target on the stock. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.86.
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A number of large investors have recently added to or reduced their stakes in the stock. Paloma Partners Management Co increased its stake in United Natural Foods by 26.4% in the first quarter. Paloma Partners Management Co now owns 40,305 shares of the company’s stock worth $1,743,000 after buying an additional 8,427 shares in the last quarter. Capstone Asset Management Co. increased its stake in United Natural Foods by 6.5% in the first quarter. Capstone Asset Management Co. now owns 8,849 shares of the company’s stock worth $383,000 after buying an additional 540 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in United Natural Foods by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $553,000 after buying an additional 300 shares in the last quarter. Shelton Capital Management increased its stake in United Natural Foods by 64.3% in the first quarter. Shelton Capital Management now owns 44,000 shares of the company’s stock worth $1,902,000 after buying an additional 17,221 shares in the last quarter. Finally, Swiss National Bank increased its stake in United Natural Foods by 1.7% in the first quarter. Swiss National Bank now owns 82,900 shares of the company’s stock worth $3,584,000 after buying an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 98.25% of the company’s stock.
United Natural Foods (NASDAQ UNFI) traded down 0.05% on Friday, reaching $36.96. The company had a trading volume of 357,901 shares. The company’s 50 day moving average price is $37.34 and its 200-day moving average price is $41.97. United Natural Foods has a 12 month low of $29.53 and a 12 month high of $52.18. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 14.84 and a beta of 1.38.
About United Natural Foods
United Natural Foods, Inc is a distributor and retailer of natural, organic and specialty products. The Company’s segments include Wholesale and Other. The Wholesale segment is engaged in the national distribution of natural, organic and specialty foods, produce and related products in the United States and Canada.
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