United Natural Foods (NYSE:UNFI) Announces Quarterly Earnings Results

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

United Natural Foods Stock Down 0.4%

Shares of NYSE UNFI opened at $43.74 on Tuesday. The stock has a market capitalization of $2.65 billion, a PE ratio of -66.27 and a beta of 0.80. 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 firm has a fifty day moving average of $47.60 and a 200-day moving average of $46.85. United Natural Foods has a 52-week low of $27.97 and a 52-week high of $57.02.

Insiders Place Their Bets

In other United Natural Foods news, insider Mark Bushway sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $51.56, for a total transaction of $515,600.00. Following the completion of the sale, the insider 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Institutional Trading of United Natural Foods

Institutional investors have recently modified their holdings of the company. Quarry LP purchased a new position in United Natural Foods in the third quarter valued at approximately $29,000. Larson Financial Group LLC increased its position in shares of United Natural Foods by 4,266.7% in the third quarter. Larson Financial Group LLC now owns 786 shares of the company’s stock worth $30,000 after acquiring an additional 768 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of United Natural Foods by 84.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,332 shares of the company’s stock valued at $31,000 after acquiring an additional 609 shares during the period. Arax Advisory Partners boosted its position in United Natural Foods by 37.4% during the 4th quarter. Arax Advisory Partners now owns 1,102 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in United Natural Foods during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 87.63% of the company’s stock.

Analysts Set New Price Targets

UNFI has been the topic of a number of recent research reports. Zacks Research lowered United Natural Foods from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Roth Capital reissued a “neutral” rating and issued a $43.00 target price on shares of United Natural Foods in a research note on Wednesday, June 10th. Wall Street Zen downgraded shares of United Natural Foods from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. BMO Capital Markets reissued an “outperform” rating and set a $56.00 price target on shares of United Natural Foods in a research note on Wednesday, June 10th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of United Natural Foods in a research note on Monday, July 6th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, United Natural Foods presently has a consensus rating of “Hold” and a consensus target price of $47.86.

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.