United Natural Foods (UNFI) Earns “Hold” Rating from Oppenheimer
United Natural Foods (NASDAQ:UNFI)‘s stock had its “hold” rating reissued by analysts at Oppenheimer in a note issued to investors on Tuesday.
A number of other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada reiterated an “underperform” rating and issued a $34.00 price objective on shares of United Natural Foods in a report on Monday. BidaskClub upgraded shares of United Natural Foods from a “hold” rating to a “buy” rating in a report on Saturday. Goldman Sachs Group reiterated a “neutral” rating and issued a $41.00 price objective on shares of United Natural Foods in a report on Tuesday, November 14th. TheStreet cut shares of United Natural Foods from a “b-” rating to a “c+” rating in a report on Friday, October 27th. Finally, Susquehanna Bancshares assumed coverage on shares of United Natural Foods in a report on Monday, October 16th. They issued a “neutral” rating and a $43.00 price objective for the company. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. United Natural Foods presently has a consensus rating of “Hold” and an average target price of $41.89.
United Natural Foods (NASDAQ:UNFI) traded down $2.98 during midday trading on Tuesday, hitting $49.51. 1,714,300 shares of the stock were exchanged, compared to its average volume of 790,059. United Natural Foods has a 1-year low of $29.53 and a 1-year high of $52.69. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.36 and a quick ratio of 0.90. The firm has a market capitalization of $2,520.00, a P/E ratio of 20.42, a PEG ratio of 3.85 and a beta of 1.46.
United Natural Foods announced that its board has initiated a share buyback plan on Friday, October 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider John Michael Hummel sold 1,407 shares of the stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $40.72, for a total value of $57,293.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Sean Griffin sold 8,095 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $43.25, for a total transaction of $350,108.75. Following the completion of the sale, the chief operating officer now owns 6,521 shares of the company’s stock, valued at approximately $282,033.25. The disclosure for this sale can be found here. Insiders have sold 61,498 shares of company stock valued at $2,659,539 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNFI. Kiltearn Partners LLP bought a new stake in shares of United Natural Foods in the second quarter valued at about $74,701,000. Dimensional Fund Advisors LP raised its position in United Natural Foods by 30.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,010,466 shares of the company’s stock worth $147,183,000 after purchasing an additional 939,946 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its position in United Natural Foods by 161.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,509,167 shares of the company’s stock worth $55,386,000 after purchasing an additional 932,281 shares in the last quarter. Hood River Capital Management LLC acquired a new position in United Natural Foods in the third quarter worth about $14,835,000. Finally, Alliancebernstein L.P. raised its position in United Natural Foods by 349.1% in the second quarter. Alliancebernstein L.P. now owns 359,287 shares of the company’s stock worth $13,186,000 after purchasing an additional 279,291 shares in the last quarter.
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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