United Natural Foods, Inc. (UNFI) Expected to Announce Quarterly Sales of $2.36 Billion
Equities analysts expect United Natural Foods, Inc. (NASDAQ:UNFI) to announce sales of $2.36 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for United Natural Foods’ earnings, with the lowest sales estimate coming in at $2.36 billion and the highest estimate coming in at $2.37 billion. United Natural Foods reported sales of $2.21 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.8%. The business is expected to report its next earnings report on Monday, September 11th.
According to Zacks, analysts expect that United Natural Foods will report full-year sales of $2.36 billion for the current fiscal year, with estimates ranging from $9.29 billion to $9.30 billion. For the next fiscal year, analysts expect that the company will post sales of $9.73 billion per share, with estimates ranging from $9.55 billion to $9.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover United Natural Foods.
United Natural Foods (NASDAQ:UNFI) last issued its quarterly earnings results on Tuesday, June 6th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.01. United Natural Foods had a return on equity of 8.21% and a net margin of 1.38%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the company posted $0.76 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year.
UNFI has been the topic of a number of recent analyst reports. Citigroup Inc. reiterated a “buy” rating and issued a $49.00 price objective (down previously from $54.00) on shares of United Natural Foods in a research report on Saturday, April 22nd. Loop Capital initiated coverage on United Natural Foods in a research report on Monday, May 15th. They issued a “buy” rating and a $48.00 price objective on the stock. Zacks Investment Research upgraded United Natural Foods from a “sell” rating to a “hold” rating in a research report on Monday, April 24th. Deutsche Bank AG set a $46.00 price objective on United Natural Foods and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $44.00 price objective on shares of United Natural Foods in a research report on Tuesday, April 11th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. United Natural Foods currently has a consensus rating of “Hold” and an average price target of $40.86.
Shares of United Natural Foods (UNFI) traded down 0.05% during trading on Friday, hitting $36.96. The stock had a trading volume of 357,901 shares. The firm’s 50 day moving average is $37.34 and its 200 day moving average is $41.97. United Natural Foods has a 1-year low of $29.53 and a 1-year high of $52.18. The company has a market cap of $1.87 billion, a PE ratio of 14.84 and a beta of 1.38.
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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in shares of United Natural Foods during the fourth quarter worth about $26,649,000. Capstone Asset Management Co. boosted its position in shares of United Natural Foods by 6.5% in the first quarter. Capstone Asset Management Co. now owns 8,849 shares of the company’s stock worth $383,000 after buying an additional 540 shares during the period. Alpha Windward LLC bought a new position in shares of United Natural Foods during the first quarter worth about $467,000. Louisiana State Employees Retirement System boosted its position in shares of United Natural Foods by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the company’s stock worth $553,000 after buying an additional 300 shares during the period. Finally, Legato Capital Management LLC boosted its position in shares of United Natural Foods by 4,223.0% in the first quarter. Legato Capital Management LLC now owns 36,573 shares of the company’s stock worth $846,000 after buying an additional 35,727 shares during the period. 98.25% of the stock is currently owned by hedge funds and other institutional investors.
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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