Zacks: Analysts Anticipate United Natural Foods, Inc. (NYSE:UNFI) to Post $0.93 EPS

Equities research analysts predict that United Natural Foods, Inc. (NYSE:UNFI) will report $0.93 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for United Natural Foods’ earnings. The highest EPS estimate is $1.05 and the lowest is $0.86. United Natural Foods posted earnings of $1.40 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 33.6%. The company is expected to announce its next earnings report on Wednesday, June 9th.

On average, analysts expect that United Natural Foods will report full-year earnings of $3.51 per share for the current year, with EPS estimates ranging from $3.38 to $3.57. For the next financial year, analysts forecast that the company will report earnings of $3.69 per share, with EPS estimates ranging from $3.42 to $3.98. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for United Natural Foods.

United Natural Foods (NYSE:UNFI) last posted its quarterly earnings data on Tuesday, March 9th. The company reported $1.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.44. United Natural Foods had a net margin of 0.41% and a return on equity of 15.85%. The company had revenue of $6.89 billion for the quarter, compared to analyst estimates of $6.92 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue for the quarter was up 12.2% on a year-over-year basis.

UNFI has been the topic of a number of research analyst reports. MKM Partners upped their target price on shares of United Natural Foods from $36.00 to $46.00 in a research note on Thursday, March 11th. TheStreet upgraded shares of United Natural Foods from a “c” rating to a “b-” rating in a research note on Thursday, March 11th. BMO Capital Markets upped their target price on shares of United Natural Foods from $20.00 to $33.00 and gave the stock a “market perform” rating in a research note on Thursday, March 11th. Wells Fargo & Company downgraded shares of United Natural Foods from an “equal weight” rating to an “underweight” rating and set a $17.00 price objective on the stock. in a research note on Wednesday, January 27th. Finally, Northcoast Research downgraded shares of United Natural Foods from a “buy” rating to a “neutral” rating in a research note on Friday, April 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $25.56.

United Natural Foods stock traded up $1.46 during midday trading on Friday, reaching $37.23. The stock had a trading volume of 1,252,322 shares, compared to its average volume of 1,390,245. The company has a quick ratio of 0.63, a current ratio of 1.66 and a debt-to-equity ratio of 2.40. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 19.59 and a beta of 1.51. The company has a fifty day moving average of $35.15 and a 200 day moving average of $25.49. United Natural Foods has a 52-week low of $14.23 and a 52-week high of $41.37.

In related news, COO Eric A. Dorne sold 10,757 shares of the firm’s stock in a transaction on Thursday, April 15th. The shares were sold at an average price of $35.30, for a total transaction of $379,722.10. Following the completion of the transaction, the chief operating officer now owns 35,522 shares of the company’s stock, valued at $1,253,926.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Christopher P. Testa sold 22,000 shares of the firm’s stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $36.00, for a total transaction of $792,000.00. Following the transaction, the president now directly owns 29,992 shares of the company’s stock, valued at approximately $1,079,712. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,909 shares of company stock valued at $3,545,378. 2.00% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Public Sector Pension Investment Board grew its position in shares of United Natural Foods by 2.4% in the fourth quarter. Public Sector Pension Investment Board now owns 123,976 shares of the company’s stock valued at $1,980,000 after purchasing an additional 2,910 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of United Natural Foods by 4.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 32,693 shares of the company’s stock valued at $522,000 after purchasing an additional 1,409 shares during the period. Truist Financial Corp grew its position in shares of United Natural Foods by 11.3% in the fourth quarter. Truist Financial Corp now owns 104,958 shares of the company’s stock valued at $1,675,000 after purchasing an additional 10,654 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of United Natural Foods in the fourth quarter valued at about $1,043,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of United Natural Foods in the fourth quarter valued at about $393,000. 81.77% of the stock is owned by institutional investors.

United Natural Foods Company Profile

United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. It operates in two segments, Wholesale and Retail. The company offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care items.

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Earnings History and Estimates for United Natural Foods (NYSE:UNFI)

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