$2.39 Billion in Sales Expected for United Natural Foods, Inc. (UNFI) This Quarter
Equities research analysts forecast that United Natural Foods, Inc. (NASDAQ:UNFI) will announce $2.39 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for United Natural Foods’ earnings, with the lowest sales estimate coming in at $2.38 billion and the highest estimate coming in at $2.40 billion. United Natural Foods posted sales of $2.28 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The firm is expected to report its next earnings results on Wednesday, December 6th.
On average, analysts expect that United Natural Foods will report full year sales of $2.39 billion for the current fiscal year, with estimates ranging from $9.65 billion to $9.72 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $10.27 billion per share, with estimates ranging from $10.03 billion to $10.56 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for United Natural Foods.
United Natural Foods (NASDAQ:UNFI) last posted its earnings results on Wednesday, September 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.02. United Natural Foods had a net margin of 1.66% and a return on equity of 9.42%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue was up 5.7% compared to the same quarter last year.
Several research firms have recently issued reports on UNFI. Royal Bank Of Canada lowered United Natural Foods from a “sector perform” rating to an “underperform” rating and lowered their price target for the stock from $36.00 to $34.00 in a research report on Tuesday, October 17th. Jefferies Group LLC reaffirmed a “hold” rating on shares of United Natural Foods in a research report on Monday, October 16th. Zacks Investment Research lowered United Natural Foods from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Susquehanna Bancshares Inc began coverage on United Natural Foods in a research report on Monday, October 16th. They issued a “neutral” rating and a $43.00 price target for the company. Finally, BidaskClub lowered United Natural Foods from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. United Natural Foods presently has an average rating of “Hold” and an average target price of $42.33.
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Shares of United Natural Foods (UNFI) opened at 39.73 on Tuesday. The company has a market cap of $2.01 billion, a price-to-earnings ratio of 15.52 and a beta of 1.43. The stock has a 50 day moving average of $39.99 and a 200 day moving average of $38.76. United Natural Foods has a 1-year low of $29.53 and a 1-year high of $49.74.
United Natural Foods announced that its board has approved a stock repurchase program on Friday, October 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In related news, CFO Michael Paul Zechmeister sold 11,500 shares of United Natural Foods stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $44.06, for a total value of $506,690.00. Following the completion of the sale, the chief financial officer now directly owns 1,997 shares in the company, valued at approximately $87,987.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bates Ann Torre sold 7,190 shares of United Natural Foods stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $40.16, for a total value of $288,750.40. The disclosure for this sale can be found here. Insiders sold a total of 61,498 shares of company stock valued at $2,659,539 over the last quarter. 1.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UNFI. OppenheimerFunds Inc. increased its holdings in United Natural Foods by 31.3% in the 1st quarter. OppenheimerFunds Inc. now owns 49,656 shares of the company’s stock worth $2,146,000 after buying an additional 11,838 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of United Natural Foods by 3.9% during the 1st quarter. Principal Financial Group Inc. now owns 207,276 shares of the company’s stock valued at $8,961,000 after purchasing an additional 7,773 shares during the period. Advantus Capital Management Inc grew its stake in shares of United Natural Foods by 3.2% during the 1st quarter. Advantus Capital Management Inc now owns 6,476 shares of the company’s stock valued at $280,000 after purchasing an additional 200 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of United Natural Foods by 6.4% during the 1st quarter. TIAA CREF Investment Management LLC now owns 349,539 shares of the company’s stock valued at $15,111,000 after purchasing an additional 21,153 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of United Natural Foods by 12.3% during the 1st quarter. Legal & General Group Plc now owns 73,287 shares of the company’s stock valued at $3,167,000 after purchasing an additional 8,008 shares during the period.
United Natural Foods Company Profile
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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