United Natural Foods (NYSE:UNFI) Releases Earnings Results, Beats Expectations By $0.08 EPS

United Natural Foods (NYSE:UNFI) announced its earnings results on Tuesday. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.61 by $0.08, FiscalAI reports. United Natural Foods had a positive return on equity of 7.42% and a negative net margin of 0.12%.The business had revenue of $7.64 billion during the quarter, compared to the consensus estimate of $7.71 billion.

United Natural Foods Stock Performance

Shares of United Natural Foods stock opened at $43.74 on Tuesday. United Natural Foods has a 12 month low of $27.97 and a 12 month high of $57.02. The company has a quick ratio of 0.51, a current ratio of 1.33 and a debt-to-equity ratio of 1.04. The stock has a market cap of $2.65 billion, a PE ratio of -66.27 and a beta of 0.80. The business has a fifty day simple moving average of $47.60 and a 200-day simple moving average of $46.85.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on UNFI. Weiss Ratings reissued a “sell (d-)” rating on shares of United Natural Foods in a research note on Monday, July 6th. Roth Capital reaffirmed a “neutral” rating and set a $43.00 price objective on shares of United Natural Foods in a research note on Wednesday, June 10th. UBS Group raised their target price on shares of United Natural Foods from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. Wall Street Zen downgraded shares of United Natural Foods from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, BMO Capital Markets restated an “outperform” rating and set a $56.00 price target on shares of United Natural Foods in a report on Wednesday, June 10th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, United Natural Foods currently has a consensus rating of “Hold” and an average price target of $47.86.

Insiders Place Their Bets

In related news, insider Mark Bushway sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $51.56, for a total transaction of $515,600.00. Following the transaction, the insider directly owned 51,119 shares of the company’s stock, valued at approximately $2,635,695.64. The trade was a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On United Natural Foods

Several institutional investors and hedge funds have recently bought and sold shares of UNFI. State of Tennessee Department of Treasury increased its holdings in shares of United Natural Foods by 19.5% in the 4th quarter. State of Tennessee Department of Treasury now owns 34,340 shares of the company’s stock valued at $1,278,000 after purchasing an additional 5,609 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of United Natural Foods by 784.6% during the fourth quarter. Mackenzie Financial Corp now owns 66,910 shares of the company’s stock worth $2,238,000 after purchasing an additional 59,346 shares during the period. XTX Topco Ltd grew its position in United Natural Foods by 82.6% during the fourth quarter. XTX Topco Ltd now owns 42,876 shares of the company’s stock valued at $1,444,000 after purchasing an additional 19,400 shares in the last quarter. Zacks Investment Management acquired a new position in United Natural Foods in the 4th quarter valued at approximately $1,938,000. Finally, VARCOV Co. acquired a new position in United Natural Foods in the 4th quarter valued at approximately $886,000. Hedge funds and other institutional investors own 87.63% of the company’s stock.

United Natural Foods Company Profile

United Natural Foods, Inc (NYSE: UNFI) is a leading distributor of natural, organic and specialty foods in North America. Founded in 1976 and headquartered in Providence, Rhode Island, the company has grown through strategic acquisitions and organic expansion to become one of the largest food distributors serving retail, foodservice and e-commerce customers.

UNFI’s core business centers on the procurement, warehousing and distribution of a broad portfolio of products, including fresh produce, groceries, frozen foods, dairy, bakery items, beverages, supplements and household essentials.