United Natural Foods, Inc. (UNFI) Expected to Post Earnings of $0.59 Per Share
Brokerages expect United Natural Foods, Inc. (NASDAQ:UNFI) to announce $0.59 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for United Natural Foods’ earnings. The lowest EPS estimate is $0.57 and the highest is $0.63. United Natural Foods reported earnings per share of $0.58 in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.7%. The company is expected to issue its next earnings report on Wednesday, December 6th.
On average, analysts expect that United Natural Foods will report full-year earnings of $2.71 per share for the current year, with EPS estimates ranging from $2.63 to $2.76. For the next fiscal year, analysts anticipate that the business will report earnings of $2.88 per share, with EPS estimates ranging from $2.78 to $2.98. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow United Natural Foods.
United Natural Foods (NASDAQ:UNFI) last announced its quarterly earnings data on Wednesday, September 13th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.36 billion. United Natural Foods had a return on equity of 8.10% and a net margin of 1.40%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share.
Several analysts recently commented on the company. Loop Capital reaffirmed a “buy” rating and set a $50.00 target price (up from $44.00) on shares of United Natural Foods in a report on Thursday, September 14th. Susquehanna Bancshares Inc assumed coverage on United Natural Foods in a report on Monday, October 16th. They set a “neutral” rating and a $43.00 target price on the stock. Royal Bank of Canada set a $34.00 target price on United Natural Foods and gave the stock a “hold” rating in a report on Sunday, July 16th. Zacks Investment Research raised United Natural Foods from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Finally, Stephens assumed coverage on United Natural Foods in a report on Friday, August 11th. They set an “equal weight” rating and a $50.00 target price on the stock. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. United Natural Foods has a consensus rating of “Hold” and an average price target of $42.33.
Shares of United Natural Foods (NASDAQ UNFI) traded down $0.08 during mid-day trading on Friday, hitting $39.89. The stock had a trading volume of 498,500 shares, compared to its average volume of 787,552. The company has a quick ratio of 0.90, a current ratio of 2.36 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $2,020.00, a price-to-earnings ratio of 15.55, a PEG ratio of 2.93 and a beta of 1.38. United Natural Foods has a fifty-two week low of $29.53 and a fifty-two week high of $49.74.
United Natural Foods declared that its board has authorized a stock repurchase plan on Friday, October 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider John Michael Hummel sold 1,407 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The stock was sold at an average price of $40.72, for a total value of $57,293.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Sean Griffin sold 6,521 shares of the firm’s stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $44.60, for a total value of $290,836.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,498 shares of company stock worth $2,659,539. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its position in shares of United Natural Foods by 47.2% in the second quarter. Sei Investments Co. now owns 3,622 shares of the company’s stock valued at $133,000 after acquiring an additional 1,162 shares in the last quarter. LS Investment Advisors LLC lifted its position in shares of United Natural Foods by 20.5% in the second quarter. LS Investment Advisors LLC now owns 4,171 shares of the company’s stock valued at $153,000 after acquiring an additional 711 shares in the last quarter. Riverhead Capital Management LLC lifted its position in shares of United Natural Foods by 80.6% in the second quarter. Riverhead Capital Management LLC now owns 4,695 shares of the company’s stock valued at $172,000 after acquiring an additional 2,095 shares in the last quarter. Flinton Capital Management LLC lifted its position in shares of United Natural Foods by 76.9% in the second quarter. Flinton Capital Management LLC now owns 5,152 shares of the company’s stock valued at $189,000 after acquiring an additional 2,240 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new position in shares of United Natural Foods in the second quarter valued at approximately $201,000.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for United Natural Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Natural Foods Inc. and related companies with MarketBeat.com's FREE daily email newsletter.