United Natural Foods (UNFI) Given a $54.00 Price Target at BMO Capital Markets
BMO Capital Markets set a $54.00 price objective on United Natural Foods (NASDAQ:UNFI) in a research report sent to investors on Saturday morning. The brokerage currently has a hold rating on the stock.
Several other equities research analysts have also recently issued reports on UNFI. Stephens started coverage on shares of United Natural Foods in a report on Friday, August 11th. They issued an equal weight rating and a $50.00 target price on the stock. BidaskClub cut shares of United Natural Foods from a hold rating to a sell rating in a research note on Friday, August 11th. Zacks Investment Research upgraded shares of United Natural Foods from a sell rating to a hold rating in a research note on Monday, August 21st. Royal Bank Of Canada set a $34.00 price target on shares of United Natural Foods and gave the stock a hold rating in a research note on Tuesday, August 29th. Finally, Pivotal Research reiterated a sell rating and set a $32.00 price target on shares of United Natural Foods in a research note on Tuesday, September 12th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $43.33.
Shares of United Natural Foods (UNFI) traded up $0.22 during midday trading on Friday, hitting $49.75. 2,330,000 shares of the company’s stock were exchanged, compared to its average volume of 836,297. United Natural Foods has a fifty-two week low of $29.53 and a fifty-two week high of $52.69. The company has a market capitalization of $2,507.45, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 3.65 and a beta of 1.46. The company has a quick ratio of 0.90, a current ratio of 2.36 and a debt-to-equity ratio of 0.22.
United Natural Foods announced that its board has authorized a share repurchase program on Friday, October 6th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Peter Roy sold 2,660 shares of United Natural Foods stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $40.43, for a total transaction of $107,543.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Paul Zechmeister sold 11,500 shares of United Natural Foods stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $44.06, for a total transaction of $506,690.00. Following the transaction, the chief financial officer now directly owns 1,997 shares of the company’s stock, valued at $87,987.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,498 shares of company stock worth $2,659,539. Insiders own 1.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Jennison Associates LLC purchased a new stake in United Natural Foods in the 2nd quarter valued at about $716,000. Adirondack Research & Management Inc. purchased a new stake in shares of United Natural Foods in the 2nd quarter worth approximately $1,725,000. GAM Holding AG purchased a new stake in shares of United Natural Foods in the 2nd quarter worth approximately $1,156,000. Pictet Asset Management Ltd. lifted its position in shares of United Natural Foods by 22.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 319,191 shares of the company’s stock worth $13,275,000 after purchasing an additional 58,779 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of United Natural Foods by 349.1% in the 2nd quarter. Alliancebernstein L.P. now owns 359,287 shares of the company’s stock worth $13,186,000 after purchasing an additional 279,291 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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