United Natural Foods (NASDAQ:UNFI) had its target price cut by Morgan Stanley from $23.00 to $21.00 in a research note released on Friday morning. They currently have an underweight rating on the stock.
UNFI has been the subject of a number of other reports. Royal Bank of Canada restated a sector perform rating and issued a $32.00 price objective (down from $36.00) on shares of United Natural Foods in a report on Friday, September 21st. They noted that the move was a valuation call. Buckingham Research decreased their price objective on shares of United Natural Foods from $26.00 to $24.00 and set a neutral rating for the company in a report on Friday, November 30th. Bank of America decreased their price objective on shares of United Natural Foods from $33.00 to $30.00 and set an underperform rating for the company in a report on Friday, September 21st. Loop Capital set a $45.00 price objective on shares of United Natural Foods and gave the stock a buy rating in a report on Tuesday, October 16th. Finally, Zacks Investment Research lowered shares of United Natural Foods from a buy rating to a hold rating in a report on Tuesday, September 18th. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $32.11.
Shares of UNFI traded down $4.85 during mid-day trading on Friday, reaching $14.88. The company had a trading volume of 10,521,975 shares, compared to its average volume of 1,605,220. The company has a quick ratio of 0.93, a current ratio of 2.56 and a debt-to-equity ratio of 0.19. United Natural Foods has a 52 week low of $14.45 and a 52 week high of $52.55. The stock has a market cap of $1.01 billion, a P/E ratio of 4.78, a P/E/G ratio of 0.80 and a beta of 1.62.
United Natural Foods (NASDAQ:UNFI) last announced its quarterly earnings data on Thursday, December 6th. The company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.14). United Natural Foods had a return on equity of 8.61% and a net margin of 1.09%. The firm had revenue of $2.87 billion during the quarter, compared to analysts’ expectations of $2.70 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. United Natural Foods’s revenue was up 16.7% on a year-over-year basis. On average, equities analysts anticipate that United Natural Foods will post 3.44 EPS for the current year.
In other United Natural Foods news, Director James P. Heffernan sold 3,820 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $29.50, for a total transaction of $112,690.00. Following the completion of the sale, the director now directly owns 6,960 shares in the company, valued at approximately $205,320. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in UNFI. Thompson Siegel & Walmsley LLC raised its stake in United Natural Foods by 96.1% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 905,654 shares of the company’s stock valued at $27,125,000 after buying an additional 443,915 shares during the last quarter. Millennium Management LLC raised its stake in United Natural Foods by 1,619.0% during the 2nd quarter. Millennium Management LLC now owns 380,491 shares of the company’s stock valued at $16,232,000 after buying an additional 405,539 shares during the last quarter. Kiltearn Partners LLP raised its stake in United Natural Foods by 9.7% during the 3rd quarter. Kiltearn Partners LLP now owns 4,478,758 shares of the company’s stock valued at $134,139,000 after buying an additional 396,554 shares during the last quarter. Royce & Associates LP raised its stake in United Natural Foods by 127.5% during the 3rd quarter. Royce & Associates LP now owns 692,100 shares of the company’s stock valued at $20,728,000 after buying an additional 387,900 shares during the last quarter. Finally, BlackRock Inc. raised its stake in United Natural Foods by 6.1% during the 2nd quarter. BlackRock Inc. now owns 5,888,566 shares of the company’s stock valued at $251,204,000 after buying an additional 340,578 shares during the last quarter. Institutional investors and hedge funds own 97.28% of the company’s stock.
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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