Wall Street analysts expect United Natural Foods Inc (NASDAQ:UNFI) to report sales of $6.55 billion for the current quarter, Zacks reports. Seven analysts have provided estimates for United Natural Foods’ earnings, with the lowest sales estimate coming in at $6.36 billion and the highest estimate coming in at $6.85 billion. United Natural Foods reported sales of $2.59 billion in the same quarter last year, which indicates a positive year over year growth rate of 152.9%. The company is expected to report its next quarterly earnings report on Thursday, September 19th.
On average, analysts expect that United Natural Foods will report full-year sales of $21.48 billion for the current year, with estimates ranging from $21.06 billion to $21.74 billion. For the next financial year, analysts expect that the business will post sales of $24.51 billion, with estimates ranging from $23.44 billion to $25.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for United Natural Foods.
United Natural Foods (NASDAQ:UNFI) last issued its earnings results on Wednesday, June 5th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.10. The company had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.21 billion. United Natural Foods had a net margin of 1.09% and a return on equity of 8.58%. United Natural Foods’s quarterly revenue was up 125.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS.
Several brokerages recently weighed in on UNFI. Pivotal Research downgraded shares of United Natural Foods from a “hold” rating to a “sell” rating and dropped their target price for the stock from $14.00 to $8.00 in a report on Thursday, March 7th. BidaskClub raised shares of United Natural Foods from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. Barclays downgraded shares of United Natural Foods from an “equal weight” rating to an “underweight” rating in a report on Tuesday, March 12th. BMO Capital Markets set a $10.00 price objective on shares of United Natural Foods and gave the company a “hold” rating in a report on Friday, June 7th. Finally, Zacks Investment Research raised shares of United Natural Foods from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $18.98.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of United Natural Foods by 22.7% in the 4th quarter. BlackRock Inc. now owns 7,523,058 shares of the company’s stock valued at $79,669,000 after acquiring an additional 1,393,591 shares during the last quarter. Kiltearn Partners LLP lifted its holdings in shares of United Natural Foods by 5.5% in the 4th quarter. Kiltearn Partners LLP now owns 4,725,904 shares of the company’s stock valued at $50,047,000 after acquiring an additional 247,146 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of United Natural Foods by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,304,747 shares of the company’s stock valued at $56,909,000 after acquiring an additional 101,400 shares during the last quarter. Towle & Co. bought a new position in shares of United Natural Foods in the 4th quarter valued at about $16,169,000. Finally, Goldman Sachs Group Inc. raised its position in United Natural Foods by 111.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,204,049 shares of the company’s stock worth $15,917,000 after purchasing an additional 634,621 shares during the period. 98.17% of the stock is owned by institutional investors and hedge funds.
Shares of United Natural Foods stock opened at $10.51 on Thursday. The firm has a market capitalization of $579.22 million, a P/E ratio of 3.38, a PEG ratio of 0.82 and a beta of 2.15. The company has a quick ratio of 0.74, a current ratio of 1.59 and a debt-to-equity ratio of 1.77. United Natural Foods has a fifty-two week low of $9.23 and a fifty-two week high of $44.94.
About United Natural Foods
United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. The Wholesale division offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care products.
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