Susquehanna Bancshares Inc initiated coverage on shares of United Natural Foods, Inc. (NASDAQ:UNFI) in a research report report published on Monday, October 16th, Marketbeat.com reports. The brokerage issued a neutral rating and a $43.00 target price on the stock.
A number of other research analysts have also commented on the company. Loop Capital reissued a buy rating and set a $44.00 price objective (down previously from $48.00) on shares of United Natural Foods in a report on Monday, June 26th. Pivotal Research reaffirmed a sell rating and issued a $32.00 target price on shares of United Natural Foods in a report on Tuesday, September 12th. Royal Bank Of Canada set a $34.00 target price on United Natural Foods and gave the company a hold rating in a report on Sunday, July 16th. Zacks Investment Research lowered United Natural Foods from a hold rating to a sell rating in a report on Monday, September 4th. Finally, Bank of America Corporation reaffirmed an underperform rating and issued a $36.00 target price (up previously from $35.00) on shares of United Natural Foods in a report on Thursday, September 14th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. United Natural Foods presently has a consensus rating of Hold and a consensus price target of $42.33.
Shares of United Natural Foods (NASDAQ UNFI) opened at 38.53 on Monday. United Natural Foods has a one year low of $29.53 and a one year high of $49.74. The company has a 50-day moving average of $40.11 and a 200 day moving average of $38.74. The firm has a market cap of $1.95 billion, a PE ratio of 15.05 and a beta of 1.43.
United Natural Foods (NASDAQ:UNFI) last issued its quarterly earnings data on Wednesday, September 13th. The company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.02. The business had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.36 billion. United Natural Foods had a return on equity of 8.10% and a net margin of 1.40%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 EPS. On average, equities research analysts expect that United Natural Foods will post $2.72 EPS for the current fiscal year.
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United Natural Foods announced that its Board of Directors has approved a share repurchase program on Friday, October 6th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Peter Roy sold 2,660 shares of United Natural Foods stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $40.43, for a total transaction of $107,543.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Michael Hummel sold 1,407 shares of United Natural Foods stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $40.72, for a total value of $57,293.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,498 shares of company stock valued at $2,659,539. 1.30% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in UNFI. KBC Group NV grew its stake in United Natural Foods by 243.8% in the first quarter. KBC Group NV now owns 9,208 shares of the company’s stock valued at $398,000 after acquiring an additional 6,530 shares during the period. SG Americas Securities LLC acquired a new position in United Natural Foods in the first quarter valued at about $581,000. OppenheimerFunds Inc. grew its stake in United Natural Foods by 31.3% in the first quarter. OppenheimerFunds Inc. now owns 49,656 shares of the company’s stock valued at $2,146,000 after acquiring an additional 11,838 shares during the period. Principal Financial Group Inc. grew its stake in United Natural Foods by 3.9% in the first quarter. Principal Financial Group Inc. now owns 207,276 shares of the company’s stock valued at $8,961,000 after acquiring an additional 7,773 shares during the period. Finally, Advantus Capital Management Inc grew its stake in United Natural Foods by 3.2% in the first quarter. Advantus Capital Management Inc now owns 6,476 shares of the company’s stock valued at $280,000 after acquiring an additional 200 shares during the period.
United Natural Foods Company Profile
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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