United Natural Foods (UNFI) Upgraded to “Buy” by Northcoast Research
Northcoast Research upgraded shares of United Natural Foods (NASDAQ:UNFI) from a neutral rating to a buy rating in a report published on Monday, Marketbeat.com reports. Northcoast Research also issued estimates for United Natural Foods’ Q2 2018 earnings at $0.56 EPS, Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.79 EPS, FY2018 earnings at $2.78 EPS and FY2019 earnings at $3.11 EPS.
Other research analysts have also issued reports about the company. TheStreet raised United Natural Foods from a c rating to a b- rating in a research report on Thursday, October 5th. Argus raised United Natural Foods from a hold rating to a buy rating and set a $49.00 price target on the stock in a research report on Monday, September 25th. Buckingham Research dropped their price target on United Natural Foods from $53.00 to $51.00 and set a buy rating on the stock in a research report on Thursday, September 14th. Loop Capital reissued a buy rating and set a $50.00 price target (up from $44.00) on shares of United Natural Foods in a research report on Thursday, September 14th. Finally, Zacks Investment Research raised United Natural Foods from a hold rating to a buy rating and set a $45.00 price target on the stock in a research report on Tuesday, October 10th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. United Natural Foods presently has a consensus rating of Hold and an average price target of $44.00.
United Natural Foods (NASDAQ UNFI) traded down $0.58 during trading hours on Monday, reaching $45.78. The company had a trading volume of 516,700 shares, compared to its average volume of 1,256,243. The firm has a market capitalization of $2,300.00, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 2.81 and a beta of 1.46. United Natural Foods has a 52-week low of $29.53 and a 52-week high of $52.69. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.25.
United Natural Foods (NASDAQ:UNFI) last posted its quarterly earnings results on Thursday, December 7th. The company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60. The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.39 billion. United Natural Foods had a return on equity of 8.04% and a net margin of 1.39%. During the same period in the previous year, the firm earned $0.58 earnings per share. sell-side analysts anticipate that United Natural Foods will post 2.74 earnings per share for the current year.
United Natural Foods declared that its Board of Directors has approved a share repurchase plan on Friday, October 6th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, COO Sean Griffin sold 12,351 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $49.41, for a total transaction of $610,262.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James P. Heffernan sold 7,580 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $52.01, for a total value of $394,235.80. The disclosure for this sale can be found here. Insiders sold 103,191 shares of company stock worth $5,140,875 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. boosted its stake in shares of United Natural Foods by 47.2% during the 2nd quarter. Sei Investments Co. now owns 3,622 shares of the company’s stock worth $133,000 after acquiring an additional 1,162 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of United Natural Foods by 80.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,695 shares of the company’s stock worth $172,000 after acquiring an additional 2,095 shares in the last quarter. Flinton Capital Management LLC boosted its stake in shares of United Natural Foods by 76.9% during the 2nd quarter. Flinton Capital Management LLC now owns 5,152 shares of the company’s stock worth $189,000 after acquiring an additional 2,240 shares in the last quarter. Balasa Dinverno & Foltz LLC bought a new stake in shares of United Natural Foods during the 3rd quarter worth about $208,000. Finally, Bell Bank bought a new stake in shares of United Natural Foods during the 3rd quarter worth about $210,000.
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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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