United Natural Foods (UNFI) Receives Underperform Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their underperform rating on shares of United Natural Foods (NASDAQ:UNFI) in a report published on Monday. The firm currently has a $34.00 price target on the stock.

Several other brokerages have also commented on UNFI. BidaskClub upgraded shares of United Natural Foods from a hold rating to a buy rating in a report on Saturday. Argus upgraded shares of United Natural Foods from a hold rating to a buy rating and set a $49.00 price objective for the company in a report on Monday, September 25th. Barclays restated a sell rating and issued a $32.00 price objective on shares of United Natural Foods in a report on Thursday, September 28th. TheStreet upgraded shares of United Natural Foods from a c rating to a b- rating in a report on Thursday, October 5th. Finally, Jefferies Group restated a hold rating on shares of United Natural Foods in a report on Monday, October 16th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $41.89.

Shares of United Natural Foods (NASDAQ:UNFI) traded up $4.69 during midday trading on Monday, reaching $52.49. 1,825,100 shares of the company’s stock traded hands, compared to its average volume of 786,093. The company has a quick ratio of 0.90, a current ratio of 2.36 and a debt-to-equity ratio of 0.22. United Natural Foods has a 1-year low of $29.53 and a 1-year high of $52.69. The company has a market cap of $2,510.00, a price-to-earnings ratio of 18.60, a PEG ratio of 3.50 and a beta of 1.46.

United Natural Foods (NASDAQ:UNFI) last issued its quarterly earnings data on Wednesday, September 13th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.02. United Natural Foods had a net margin of 1.40% and a return on equity of 8.10%. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the business earned $0.70 EPS. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. research analysts expect that United Natural Foods will post 2.71 EPS for the current year.

United Natural Foods declared that its Board of Directors has initiated a stock buyback program on Friday, October 6th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Bates Ann Torre sold 7,190 shares of the stock in a transaction dated Friday, October 6th. The shares were sold at an average price of $40.16, for a total transaction of $288,750.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 sale, the chief operating officer now directly owns 6,521 shares in the company, valued at $282,033.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,498 shares of company stock valued at $2,659,539. 1.40% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in UNFI. Sei Investments Co. grew its position in United Natural Foods by 47.2% during the 2nd quarter. Sei Investments Co. now owns 3,622 shares of the company’s stock valued at $133,000 after purchasing an additional 1,162 shares during the last quarter. LS Investment Advisors LLC grew its position in United Natural Foods by 20.5% during the 2nd quarter. LS Investment Advisors LLC now owns 4,171 shares of the company’s stock valued at $153,000 after purchasing an additional 711 shares during the last quarter. Riverhead Capital Management LLC grew its position in United Natural Foods by 80.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,695 shares of the company’s stock valued at $172,000 after purchasing an additional 2,095 shares during the last quarter. Flinton Capital Management LLC grew its position in United Natural Foods by 76.9% during the 2nd quarter. Flinton Capital Management LLC now owns 5,152 shares of the company’s stock valued at $189,000 after purchasing an additional 2,240 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC purchased a new stake in United Natural Foods during the 3rd quarter valued at about $208,000.

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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.

Analyst Recommendations for United Natural Foods (NASDAQ:UNFI)

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