Analysts Anticipate United Natural Foods Inc (NASDAQ:UNFI) Will Announce Quarterly Sales of $6.55 Billion

Wall Street analysts forecast that United Natural Foods Inc (NASDAQ:UNFI) will announce $6.55 billion in sales 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 posted sales of $2.59 billion in the same quarter last year, which suggests a positive year over year growth rate of 152.9%. The company is scheduled to report its next quarterly earnings results on Thursday, September 19th.

On average, analysts expect that United Natural Foods will report full-year sales of $21.48 billion for the current financial year, with estimates ranging from $21.06 billion to $21.74 billion. For the next fiscal year, analysts forecast that the firm will post sales of $24.51 billion, with estimates ranging from $23.44 billion to $25.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow United Natural Foods.

United Natural Foods (NASDAQ:UNFI) last announced its earnings results on Wednesday, June 5th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. United Natural Foods had a net margin of 1.09% and a return on equity of 8.58%. The company had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same quarter in the previous year, the business posted $1.04 earnings per share. The firm’s quarterly revenue was up 125.1% compared to the same quarter last year.

A number of equities research analysts recently issued reports on UNFI shares. BidaskClub upgraded shares of United Natural Foods from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Loop Capital lowered their target price on shares of United Natural Foods to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 6th. Pivotal Research downgraded shares of United Natural Foods from a “hold” rating to a “sell” rating and lowered their target price for the company from $14.00 to $8.00 in a report on Thursday, March 7th. Barclays downgraded shares of United Natural Foods from an “equal weight” rating to an “underweight” rating in a report on Tuesday, March 12th. Finally, Zacks Investment Research upgraded shares of United Natural Foods from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, March 19th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. United Natural Foods presently has a consensus rating of “Hold” and an average price target of $18.98.

United Natural Foods stock traded down $0.51 during trading on Thursday, reaching $9.02. The company had a trading volume of 1,953,386 shares, compared to its average volume of 1,352,522. United Natural Foods has a 12-month low of $8.94 and a 12-month high of $44.94. The company has a market cap of $502.27 million, a price-to-earnings ratio of 2.90, a PEG ratio of 0.82 and a beta of 2.15. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.74 and a current ratio of 1.59.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Piedmont Investment Advisors Inc. raised its holdings in shares of United Natural Foods by 7.1% during the first quarter. Piedmont Investment Advisors Inc. now owns 12,959 shares of the company’s stock worth $171,000 after purchasing an additional 858 shares during the period. Arizona State Retirement System raised its holdings in shares of United Natural Foods by 1.2% during the first quarter. Arizona State Retirement System now owns 79,157 shares of the company’s stock worth $1,046,000 after purchasing an additional 904 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of United Natural Foods by 3.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 32,338 shares of the company’s stock worth $342,000 after purchasing an additional 1,050 shares during the period. Cascade Investment Advisors Inc. raised its holdings in shares of United Natural Foods by 5.0% during the first quarter. Cascade Investment Advisors Inc. now owns 22,790 shares of the company’s stock worth $301,000 after purchasing an additional 1,075 shares during the period. Finally, Bank of Montreal Can raised its holdings in shares of United Natural Foods by 20.4% during the fourth quarter. Bank of Montreal Can now owns 6,604 shares of the company’s stock worth $70,000 after purchasing an additional 1,120 shares during the period. 98.17% of the stock is currently owned by hedge funds and other institutional investors.

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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