United Natural Foods (UNFI) PT Set at $51.00 by Stephens
Several other equities research analysts also recently commented on UNFI. Royal Bank of Canada restated a sector perform rating and issued a $36.00 price target (up previously from $34.00) on shares of United Natural Foods in a research report on Wednesday, September 20th. Argus upgraded shares of United Natural Foods from a hold rating to a buy rating and set a $49.00 price target for the company in a research report on Monday, September 25th. Barclays restated a sell rating and issued a $32.00 price target on shares of United Natural Foods in a research report on Thursday, September 28th. TheStreet upgraded shares of United Natural Foods from a c rating to a b- rating in a research report on Thursday, October 5th. Finally, Zacks Investment Research upgraded shares of United Natural Foods from a hold rating to a buy rating and set a $45.00 price target for the company in a research report on Tuesday, October 10th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. United Natural Foods currently has a consensus rating of Hold and an average target price of $44.67.
Shares of United Natural Foods (NASDAQ:UNFI) opened at $49.00 on Wednesday. United Natural Foods has a one year low of $29.53 and a one year high of $52.69. The company has a market cap of $2,469.65, a P/E ratio of 18.77, a P/E/G ratio of 2.81 and a beta of 1.46. The company has a current ratio of 2.25, a quick ratio of 0.82 and a debt-to-equity ratio of 0.25.
United Natural Foods announced that its board has initiated a share repurchase program on Friday, October 6th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other United Natural Foods news, insider Christopher P. Testa sold 4,744 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $49.47, for a total value of $234,685.68. Following the completion of the sale, the insider now owns 14,782 shares in the company, valued at approximately $731,265.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Sean Griffin sold 12,351 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $49.41, for a total transaction of $610,262.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 103,191 shares of company stock valued at $5,140,875. Insiders own 1.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC lifted its position in United Natural Foods by 80.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,695 shares of the company’s stock worth $172,000 after buying an additional 2,095 shares in the last quarter. Balasa Dinverno & Foltz LLC purchased a new stake in United Natural Foods in the 3rd quarter worth approximately $208,000. Bell Bank purchased a new stake in United Natural Foods in the 3rd quarter worth approximately $210,000. Flinton Capital Management LLC increased 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 purchasing an additional 2,240 shares during the last quarter. Finally, First Republic Investment Management Inc. acquired a new position in shares of United Natural Foods during the 3rd quarter worth $218,000.
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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.
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