State Treasurer State of Michigan cut its holdings in shares of United Natural Foods, Inc. (NASDAQ:UNFI) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,000 shares of the company’s stock after selling 1,900 shares during the period. State Treasurer State of Michigan’s holdings in United Natural Foods were worth $790,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of United Natural Foods by 16,599.3% during the first quarter. BlackRock Inc. now owns 5,252,416 shares of the company’s stock worth $227,062,000 after buying an additional 5,220,963 shares during the period. Jennison Associates LLC acquired a new position in shares of United Natural Foods during the second quarter worth approximately $716,000. Adirondack Research & Management Inc. acquired a new position in shares of United Natural Foods during the second quarter worth approximately $1,725,000. Peregrine Capital Management LLC boosted its position in shares of United Natural Foods by 2.0% during the second quarter. Peregrine Capital Management LLC now owns 144,481 shares of the company’s stock worth $5,302,000 after buying an additional 2,881 shares during the period. Finally, GAM Holding AG acquired a new position in shares of United Natural Foods during the second quarter worth approximately $1,156,000.

UNFI has been the subject of several analyst reports. Pivotal Research reiterated a “sell” rating and set a $32.00 price objective on shares of United Natural Foods in a research report on Tuesday, September 12th. Royal Bank Of Canada set a $34.00 price objective on United Natural Foods and gave the stock a “hold” rating in a research report on Sunday, July 16th. Bank of America Corporation reiterated an “underperform” rating and set a $36.00 price objective (up from $35.00) on shares of United Natural Foods in a research report on Thursday, September 14th. Zacks Investment Research downgraded United Natural Foods from a “hold” rating to a “sell” rating in a research report on Monday, September 4th. Finally, TheStreet upgraded United Natural Foods from a “c” rating to a “b-” rating in a research report on Thursday, October 5th. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $42.33.

In other United Natural Foods news, Director Bates Ann Torre sold 7,190 shares of the company’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $40.16, for a total value of $288,750.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Michael Hummel sold 1,407 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $40.72, for a total value of $57,293.04. The disclosure for this sale can be found here. Insiders sold 61,498 shares of company stock worth $2,659,539 in the last ninety days. 1.30% of the stock is owned by corporate insiders.

TRADEMARK VIOLATION WARNING: “State Treasurer State of Michigan Has $790,000 Stake in United Natural Foods, Inc. (UNFI)” was posted by Watch List News and is the property of of Watch List News. If you are viewing this article on another website, it was stolen and republished in violation of US & international copyright and trademark laws. The original version of this article can be read at https://www.watchlistnews.com/state-treasurer-state-of-michigan-has-790000-stake-in-united-natural-foods-inc-unfi/1692422.html.

United Natural Foods, Inc. (UNFI) opened at $39.97 on Friday. The stock has a market capitalization of $1,998.60, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 2.88 and a beta of 1.38. United Natural Foods, Inc. has a twelve month low of $29.53 and a twelve month high of $49.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.36 and a quick ratio of 0.90.

United Natural Foods (NASDAQ:UNFI) last posted its quarterly earnings results on Wednesday, September 13th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.02. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.36 billion. United Natural Foods had a return on equity of 8.10% and a net margin of 1.40%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. equities research analysts forecast that United Natural Foods, Inc. will post 2.71 EPS for the current fiscal year.

United Natural Foods declared that its board has authorized a stock repurchase program on Friday, October 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

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.

Institutional Ownership by Quarter for United Natural Foods (NASDAQ:UNFI)

Receive News & Ratings for United Natural Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Natural Foods Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.