United Natural Foods, Inc. (UNFI) Stock Rating Lowered by Royal Bank Of Canada
United Natural Foods, Inc. (NASDAQ:UNFI) was downgraded by stock analysts at Royal Bank Of Canada from a “sector perform” rating to an “underperform” rating in a report released on Tuesday. They currently have a $34.00 price objective on the stock, down from their previous price objective of $36.00. Royal Bank Of Canada’s target price would suggest a potential downside of 15.44% from the company’s previous close.
Several other analysts have also weighed in on UNFI. Loop Capital restated a “buy” rating and issued a $44.00 price objective (down previously from $48.00) on shares of United Natural Foods in a report on Monday, June 26th. Pivotal Research restated a “sell” rating and issued a $32.00 price objective on shares of United Natural Foods in a report on Tuesday, September 12th. Zacks Investment Research lowered United Natural Foods from a “hold” rating to a “sell” rating in a report on Monday, September 4th. Bank of America Corporation restated an “underperform” rating and issued a $36.00 price objective (up previously from $35.00) on shares of United Natural Foods in a report on Thursday, September 14th. Finally, BidaskClub upgraded United Natural Foods from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.33.
Shares of United Natural Foods (UNFI) opened at 40.21 on Tuesday. The firm has a market cap of $2.04 billion, a P/E ratio of 15.71 and a beta of 1.43. United Natural Foods has a 12-month low of $29.53 and a 12-month high of $49.74. The firm has a 50-day moving average price of $39.55 and a 200-day moving average price of $38.86.
United Natural Foods (NASDAQ:UNFI) last released its quarterly earnings results on Wednesday, September 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.02. United Natural Foods had a return on equity of 8.10% and a net margin of 1.40%. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities research analysts expect that United Natural Foods will post $2.71 earnings per share for the current fiscal year.
United Natural Foods declared that its board has authorized a stock repurchase plan on Friday, October 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
In related news, insider John Michael Hummel sold 1,407 shares of the company’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $40.72, for a total transaction of $57,293.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Paul Zechmeister sold 11,500 shares of the company’s stock in a transaction on Monday, September 25th. The shares were sold at an average price of $44.06, for a total value of $506,690.00. Following the transaction, the chief financial officer now directly owns 1,997 shares in the company, valued at $87,987.82. The disclosure for this sale can be found here. Insiders have sold 61,498 shares of company stock worth $2,659,539 over the last three months. 1.30% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its position in United Natural Foods by 16,599.3% during the first quarter. BlackRock Inc. now owns 5,252,416 shares of the company’s stock valued at $227,062,000 after buying an additional 5,220,963 shares during the period. Vanguard Group Inc. raised its position in United Natural Foods by 0.6% during the second quarter. Vanguard Group Inc. now owns 4,289,244 shares of the company’s stock valued at $157,415,000 after buying an additional 24,028 shares during the period. Dimensional Fund Advisors LP raised its position in United Natural Foods by 30.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,010,466 shares of the company’s stock valued at $147,183,000 after buying an additional 939,946 shares during the period. Kiltearn Partners LLP acquired a new position in United Natural Foods during the second quarter valued at $74,701,000. Finally, State Street Corp raised its position in United Natural Foods by 4.2% during the second quarter. State Street Corp now owns 1,666,585 shares of the company’s stock valued at $61,167,000 after buying an additional 66,868 shares during the period.
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.
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