United Natural Foods (NYSE:UNFI) Share Price Breaks Below Two Hundred Day Moving Average – Here’s Why

United Natural Foods, Inc. (NYSE:UNFI) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $45.64 and traded as low as $45.05. United Natural Foods shares last traded at $45.1550, with a volume of 660,749 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UNFI. Roth Capital reiterated a “neutral” rating and set a $45.00 price objective (up from $43.00) on shares of United Natural Foods in a report on Thursday, September 10th. UBS Group boosted their target price on United Natural Foods from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 9th. Deutsche Bank Aktiengesellschaft upped their target price on United Natural Foods from $46.00 to $53.00 and gave the company a “hold” rating in a research report on Friday, September 11th. BTIG Research reiterated a “neutral” rating on shares of United Natural Foods in a research note on Wednesday, September 9th. Finally, Zacks Research lowered United Natural Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $52.00.

United Natural Foods Stock Down 3.5%

The company’s 50 day moving average price is $45.74 and its 200 day moving average price is $45.64. The company has a quick ratio of 0.49, a current ratio of 1.29 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 33.70 and a beta of 1.05.

United Natural Foods (NYSE:UNFI) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.07. United Natural Foods had a net margin of 0.27% and a return on equity of 10.51%. The firm had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.71 billion. During the same period in the previous year, the company earned ($0.11) earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. United Natural Foods has set its FY 2027 guidance at 3.000-3.500 EPS. As a group, research analysts forecast that United Natural Foods, Inc. will post 3.30 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of United Natural Foods during the second quarter worth about $477,650,000. Wellington Management Group LLP boosted its position in United Natural Foods by 85.7% in the second quarter. Wellington Management Group LLP now owns 1,542,662 shares of the company’s stock valued at $70,453,000 after buying an additional 711,913 shares during the last quarter. JCP Investment Management LLC increased its holdings in United Natural Foods by 6.7% in the 1st quarter. JCP Investment Management LLC now owns 494,371 shares of the company’s stock worth $22,276,000 after buying an additional 31,071 shares during the period. Empowered Funds LLC increased its holdings in United Natural Foods by 25.0% in the 1st quarter. Empowered Funds LLC now owns 433,634 shares of the company’s stock worth $19,540,000 after buying an additional 86,605 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in United Natural Foods during the 2nd quarter worth approximately $18,672,000. 87.63% of the stock is owned by institutional investors and hedge funds.

United Natural Foods Company Profile

United Natural Foods, Inc (NYSE:UNFI) is a major grocery wholesaler and distributor serving food retailers and other customers across the United States and Canada. The company supplies natural, organic, specialty, fresh, and conventional grocery products to supermarkets, independent retailers, food cooperatives, and other businesses.

UNFI’s product offerings include fresh produce, dairy, meat and seafood, grocery and packaged foods, beverages, supplements, and personal-care products. In addition to distributing products from numerous manufacturers and brands, the company offers private-label products and provides services such as merchandising, marketing, category management, professional support, and supply-chain solutions.

Founded in 1976, UNFI expanded significantly through acquisitions, including its 2018 acquisition of Supervalu, which strengthened its conventional grocery distribution operations and customer network.