United Natural Foods, Inc. (UNFI) Given Consensus Rating of “Hold” by Analysts
United Natural Foods, Inc. (NASDAQ:UNFI) has earned an average recommendation of “Hold” from the twenty-three analysts that are presently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $42.53.
A number of equities research analysts recently issued reports on UNFI shares. Royal Bank Of Canada set a $34.00 price objective on United Natural Foods and gave the company a “hold” rating in a research note on Tuesday, August 29th. Pivotal Research reiterated a “sell” rating and set a $32.00 price target on shares of United Natural Foods in a research report on Tuesday, September 12th. BMO Capital Markets set a $38.00 price target on United Natural Foods and gave the company a “hold” rating in a research report on Tuesday, August 29th. Argus upgraded United Natural Foods from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Monday, September 25th. Finally, Zacks Investment Research upgraded shares of United Natural Foods from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Tuesday, October 10th.
In other United Natural Foods news, insider John Michael Hummel sold 1,407 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $40.72, for a total value of $57,293.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James P. Heffernan sold 2,660 shares of the company’s stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $44.28, for a total value of $117,784.80. Following the completion of the sale, the director now owns 29,724 shares of the company’s stock, valued at $1,316,178.72. 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. Company insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. Nine Chapters Capital Management LLC purchased a new stake in shares of United Natural Foods in the 3rd quarter worth $245,000. Crossmark Global Holdings Inc. bought a new position in shares of United Natural Foods in the 3rd quarter worth $419,000. Pictet Asset Management Ltd. raised its position in shares of United Natural Foods by 22.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 319,191 shares of the company’s stock worth $13,275,000 after acquiring an additional 58,779 shares in the last quarter. Peregrine Capital Management LLC raised its position in shares of United Natural Foods by 2.1% in the 3rd quarter. Peregrine Capital Management LLC now owns 147,463 shares of the company’s stock worth $6,133,000 after acquiring an additional 2,982 shares in the last quarter. Finally, First Quadrant L P CA bought a new position in shares of United Natural Foods in the 3rd quarter worth $237,000.
United Natural Foods (UNFI) opened at 38.77 on Wednesday. United Natural Foods has a one year low of $29.53 and a one year high of $49.74. The firm has a market cap of $1.96 billion, a PE ratio of 15.14 and a beta of 1.43. The company’s 50-day moving average is $40.41 and its 200 day moving average is $38.66.
United Natural Foods (NASDAQ:UNFI) last posted its quarterly earnings data on Wednesday, September 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.02. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.36 billion. United Natural Foods had a net margin of 1.40% and a return on equity of 8.10%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.70 EPS. Equities analysts anticipate that United Natural Foods will post $2.72 earnings per share for the current year.
United Natural Foods announced that its Board of Directors has authorized a stock buyback program on Friday, October 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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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