United Natural Foods (NYSE:UNFI) Sets New 52-Week High – What’s Next?

Shares of United Natural Foods, Inc. (NYSE:UNFI) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $23.87 and last traded at $23.87, with a volume of 479 shares. The stock had previously closed at $23.61.

Analyst Upgrades and Downgrades

Several analysts have issued reports on UNFI shares. The Goldman Sachs Group lifted their price target on United Natural Foods from $15.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. UBS Group lifted their target price on United Natural Foods from $16.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. BMO Capital Markets upped their price target on United Natural Foods from $14.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. Finally, Northcoast Research raised shares of United Natural Foods from a “neutral” rating to a “buy” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, United Natural Foods currently has an average rating of “Hold” and a consensus target price of $18.40.

United Natural Foods Stock Performance

The company has a current ratio of 1.44, a quick ratio of 0.52 and a debt-to-equity ratio of 1.28. The firm has a fifty day moving average of $20.12 and a 200-day moving average of $15.75.

United Natural Foods (NYSE:UNFI) last released its quarterly earnings data on Tuesday, October 1st. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.09. The company had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $7.94 billion. United Natural Foods had a positive return on equity of 0.54% and a negative net margin of 0.36%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.25) EPS. Equities research analysts predict that United Natural Foods, Inc. will post 0.64 EPS for the current year.

Insider Transactions at United Natural Foods

In related news, insider Danielle Benedict sold 9,050 shares of the stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $22.10, for a total value of $200,005.00. Following the sale, the insider now owns 88,218 shares in the company, valued at approximately $1,949,617.80. This represents a 9.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Natural Foods

Several institutional investors and hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. boosted its holdings in shares of United Natural Foods by 204.6% during the 1st quarter. Russell Investments Group Ltd. now owns 39,851 shares of the company’s stock worth $459,000 after buying an additional 26,769 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of United Natural Foods by 14.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 19,295 shares of the company’s stock worth $222,000 after buying an additional 2,400 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of United Natural Foods by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 7,587,059 shares of the company’s stock valued at $87,175,000 after purchasing an additional 321,020 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in United Natural Foods by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,493 shares of the company’s stock worth $500,000 after purchasing an additional 1,994 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in shares of United Natural Foods in the 1st quarter valued at $38,000. 87.63% of the stock is currently owned by institutional investors and hedge funds.

United Natural Foods Company Profile

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.