Pekin Hardy Strauss Inc. Buys New Position in United Natural Foods, Inc. (NYSE:UNFI)

Pekin Hardy Strauss Inc. purchased a new stake in United Natural Foods, Inc. (NYSE:UNFI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 35,350 shares of the company’s stock, valued at approximately $595,000.

A number of other hedge funds have also added to or reduced their stakes in UNFI. nVerses Capital LLC bought a new stake in shares of United Natural Foods during the 2nd quarter valued at about $28,000. Public Employees Retirement System of Ohio bought a new stake in United Natural Foods during the 1st quarter valued at approximately $38,000. CWM LLC grew its holdings in shares of United Natural Foods by 661.8% during the 2nd quarter. CWM LLC now owns 3,314 shares of the company’s stock worth $43,000 after acquiring an additional 2,879 shares during the period. EMC Capital Management raised its position in shares of United Natural Foods by 39.6% in the 1st quarter. EMC Capital Management now owns 6,430 shares of the company’s stock worth $74,000 after acquiring an additional 1,824 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of United Natural Foods by 12.2% in the 2nd quarter. Van ECK Associates Corp now owns 6,584 shares of the company’s stock valued at $86,000 after purchasing an additional 716 shares during the period. 87.63% of the stock is owned by hedge funds and other institutional investors.

United Natural Foods Stock Performance

UNFI opened at $23.61 on Monday. The stock has a 50-day moving average price of $19.92 and a 200-day moving average price of $15.64. United Natural Foods, Inc. has a 1 year low of $8.58 and a 1 year high of $23.78. The company has a quick ratio of 0.52, a current ratio of 1.44 and a debt-to-equity ratio of 1.28.

United Natural Foods (NYSE:UNFI) last issued its earnings results on Tuesday, October 1st. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.09. The business had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $7.94 billion. United Natural Foods had a negative net margin of 0.36% and a positive return on equity of 0.54%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.25) earnings per share. On average, equities research analysts anticipate that United Natural Foods, Inc. will post 0.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

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

United Natural Foods 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.