United Natural Foods (NYSE:UNFI) Given New $42.00 Price Target at UBS Group

United Natural Foods (NYSE:UNFI) had its target price raised by UBS Group from $29.00 to $42.00 in a report released on Wednesday morning, MarketBeat.com reports. UBS Group currently has a neutral rating on the stock.

A number of other research firms have also weighed in on UNFI. The Goldman Sachs Group dropped their price target on shares of United Natural Foods from $30.00 to $26.00 and set a “neutral” rating on the stock in a research report on Thursday, June 12th. Northcoast Research raised shares of United Natural Foods from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Tuesday, July 22nd. BMO Capital Markets raised their price target on shares of United Natural Foods from $36.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday. Zacks Research raised shares of United Natural Foods from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company raised their price target on shares of United Natural Foods from $26.00 to $36.00 and gave the company an “equal weight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.00.

United Natural Foods Stock Up 1.2%

Shares of NYSE UNFI opened at $40.51 on Wednesday. The stock has a market capitalization of $2.46 billion, a P/E ratio of -20.77 and a beta of 0.88. The company has a 50-day moving average price of $29.05 and a 200-day moving average price of $26.96. United Natural Foods has a 1 year low of $18.81 and a 1 year high of $41.19. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.32 and a quick ratio of 0.51.

United Natural Foods (NYSE:UNFI) last issued its quarterly earnings data on Tuesday, September 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.61 billion. United Natural Foods had a negative net margin of 0.37% and a positive return on equity of 2.74%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.01 earnings per share. On average, equities research analysts forecast that United Natural Foods will post 0.76 EPS for the current fiscal year.

Insider Buying and Selling

In other United Natural Foods news, insider Danielle Benedict sold 11,655 shares of United Natural Foods stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $35.31, for a total value of $411,538.05. Following the sale, the insider owned 89,544 shares of the company’s stock, valued at approximately $3,161,798.64. The trade was a 11.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of United Natural Foods

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its position in United Natural Foods by 1,672.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 975 shares of the company’s stock worth $27,000 after acquiring an additional 920 shares during the period. Farther Finance Advisors LLC raised its position in shares of United Natural Foods by 88.3% in the second quarter. Farther Finance Advisors LLC now owns 1,077 shares of the company’s stock valued at $25,000 after purchasing an additional 505 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of United Natural Foods by 84.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,332 shares of the company’s stock valued at $31,000 after purchasing an additional 609 shares during the period. Picton Mahoney Asset Management bought a new stake in shares of United Natural Foods in the first quarter valued at approximately $69,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of United Natural Foods in the first quarter valued at approximately $73,000. Institutional investors own 87.63% of the company’s stock.

About United Natural Foods

United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. It operates in two segments, Wholesale and Retail. The company offers grocery and general merchandise, produce, perishables and frozen foods, wellness and personal care items, and bulk and foodservice products.