Analysts expect that United Natural Foods, Inc. (NASDAQ:UNFI) will report $2.39 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for United Natural Foods’ earnings, with the highest sales estimate coming in at $2.40 billion and the lowest estimate coming in at $2.38 billion. United Natural Foods reported sales of $2.28 billion in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The company is scheduled to announce its next earnings report on Wednesday, December 6th.
On average, analysts expect that United Natural Foods will report full-year sales of $2.39 billion for the current financial year, with estimates ranging from $9.65 billion to $9.72 billion. For the next year, analysts expect that the firm will post sales of $10.27 billion per share, with estimates ranging from $10.03 billion to $10.56 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover United Natural Foods.
United Natural Foods (NASDAQ:UNFI) last announced its earnings results on Wednesday, September 13th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.36 billion. United Natural Foods had a return on equity of 8.10% and a net margin of 1.40%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share.
Several research analysts have weighed in on the company. Royal Bank Of Canada set a $34.00 price target on United Natural Foods and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Pivotal Research reaffirmed a “sell” rating and set a $32.00 price target on shares of United Natural Foods in a research report on Tuesday, September 12th. BidaskClub raised United Natural Foods from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. BMO Capital Markets set a $38.00 price target on United Natural Foods and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Finally, Argus raised United Natural Foods from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Monday, September 25th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. United Natural Foods presently has a consensus rating of “Hold” and a consensus price target of $42.33.
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Shares of United Natural Foods (NASDAQ UNFI) traded down 0.98% during midday trading on Tuesday, reaching $38.53. The company’s stock had a trading volume of 684,679 shares. The company has a 50-day moving average price of $40.11 and a 200-day moving average price of $38.74. United Natural Foods has a 12 month low of $29.53 and a 12 month high of $49.74. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 15.05 and a beta of 1.43.
United Natural Foods announced that its board has initiated a stock buyback plan on Friday, October 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP Joseph J. Traficanti sold 5,800 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $43.25, for a total value of $250,850.00. Following the completion of the sale, the senior vice president now directly owns 10,113 shares in the company, valued at approximately $437,387.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Sean Griffin sold 8,095 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $43.25, for a total value of $350,108.75. Following the completion of the sale, the chief operating officer now owns 6,521 shares of the company’s stock, valued at $282,033.25. The disclosure for this sale can be found here. Insiders sold a total of 61,498 shares of company stock valued at $2,659,539 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. bought a new stake in United Natural Foods in the 3rd quarter valued at $419,000. Pictet Asset Management Ltd. boosted its stake in United Natural Foods by 22.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 319,191 shares of the company’s stock valued at $13,275,000 after purchasing an additional 58,779 shares during the period. Peregrine Capital Management LLC boosted its stake in United Natural Foods by 2.1% in the 3rd quarter. Peregrine Capital Management LLC now owns 147,463 shares of the company’s stock valued at $6,133,000 after purchasing an additional 2,982 shares during the period. First Quadrant L P CA bought a new stake in United Natural Foods in the 3rd quarter valued at $237,000. Finally, Aperio Group LLC boosted its stake in United Natural Foods by 119.1% in the 3rd quarter. Aperio Group LLC now owns 40,851 shares of the company’s stock valued at $1,699,000 after purchasing an additional 22,209 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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