United Natural Foods (UNFI) Upgraded at Barclays
United Natural Foods (NASDAQ:UNFI) was upgraded by research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a report released on Tuesday, The Fly reports.
Several other analysts have also recently weighed in on UNFI. Jefferies Group reissued a “hold” rating and issued a $49.00 price objective on shares of United Natural Foods in a research note on Monday, January 8th. Susquehanna Bancshares set a $51.00 price objective on shares of United Natural Foods and gave the stock a “hold” rating in a research note on Thursday, January 11th. Northcoast Research raised shares of United Natural Foods from a “neutral” rating to a “buy” rating in a research note on Monday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $36.00 price objective (up previously from $34.00) on shares of United Natural Foods in a research note on Wednesday, September 20th. Finally, BidaskClub raised shares of United Natural Foods from a “hold” rating to a “buy” rating in a research note on Saturday, December 2nd. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $44.00.
United Natural Foods (NASDAQ:UNFI) opened at $47.42 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.82 and a current ratio of 2.25. United Natural Foods has a 1-year low of $29.53 and a 1-year high of $52.69. The stock has a market cap of $2,390.01, a price-to-earnings ratio of 18.38, a PEG ratio of 2.75 and a beta of 1.46.
United Natural Foods announced that its Board of Directors has approved a share buyback plan on Friday, October 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
In other United Natural Foods news, insider Christopher P. Testa sold 4,744 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $49.47, for a total transaction of $234,685.68. Following the sale, the insider now owns 14,782 shares of the company’s stock, valued at $731,265.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James P. Heffernan sold 7,580 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $52.01, for a total transaction of $394,235.80. The disclosure for this sale can be found here. Insiders have sold 103,191 shares of company stock worth $5,140,875 in the last ninety days. Insiders own 1.40% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of UNFI. Dimensional Fund Advisors LP boosted 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 acquiring an additional 939,946 shares during the last quarter. Hood River Capital Management LLC bought a new position in shares of United Natural Foods during the 3rd quarter worth about $14,835,000. Alliancebernstein L.P. boosted its position in shares of United Natural Foods by 349.1% during 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 in the last quarter. Gotham Asset Management LLC boosted its position in shares of United Natural Foods by 842.2% during the 2nd quarter. Gotham Asset Management LLC now owns 289,022 shares of the company’s stock worth $10,607,000 after purchasing an additional 258,346 shares in the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of United Natural Foods during the 2nd quarter worth about $9,083,000.
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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