United Natural Foods, Inc. (NASDAQ:UNFI) – Research analysts at Northcoast Research boosted their Q2 2018 EPS estimates for shares of United Natural Foods in a research note issued on Monday, Zacks Investment Research reports. Northcoast Research analyst C. Cerankosky now anticipates that the company will post earnings per share of $0.56 for the quarter, up from their prior estimate of $0.55. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for United Natural Foods’ Q3 2018 earnings at $0.83 EPS, Q4 2018 earnings at $0.79 EPS, FY2018 earnings at $2.78 EPS and FY2019 earnings at $3.11 EPS.
United Natural Foods (NASDAQ:UNFI) last announced its quarterly earnings data on Thursday, December 7th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.60. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.39 billion. United Natural Foods had a net margin of 1.39% and a return on equity of 8.04%. During the same quarter in the previous year, the company posted $0.58 EPS.
UNFI has been the topic of several other reports. BidaskClub downgraded shares of United Natural Foods from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. Royal Bank of Canada reissued an “underperform” rating and issued a $34.00 target price on shares of United Natural Foods in a research report on Monday, December 4th. TheStreet raised shares of United Natural Foods from a “c” rating to a “b-” rating in a research report on Thursday, October 5th. Zacks Investment Research raised shares of United Natural Foods from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, October 10th. Finally, Susquehanna Bancshares set a $51.00 target price on shares of United Natural Foods and gave the stock a “hold” rating in a research report on Thursday, January 11th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $44.83.
Shares of United Natural Foods (NASDAQ:UNFI) traded down $1.51 on Tuesday, hitting $46.09. 575,626 shares of the stock traded hands, compared to its average volume of 662,625. The firm has a market cap of $2,320.00, a PE ratio of 17.86, a P/E/G ratio of 2.75 and a beta of 1.46. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.25 and a quick ratio of 0.82. United Natural Foods has a 12 month low of $29.53 and a 12 month high of $52.69.
A number of hedge funds and other institutional investors have recently bought and sold shares of UNFI. Dimensional Fund Advisors LP lifted its stake in shares of United Natural Foods by 30.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,010,466 shares of the company’s stock worth $147,183,000 after buying an additional 939,946 shares during the last quarter. Hood River Capital Management LLC acquired a new stake in shares of United Natural Foods in the third quarter worth $14,835,000. Alliancebernstein L.P. lifted its stake in shares of United Natural Foods by 349.1% in the second quarter. Alliancebernstein L.P. now owns 359,287 shares of the company’s stock worth $13,186,000 after buying an additional 279,291 shares during the last quarter. Gotham Asset Management LLC lifted its stake in shares of United Natural Foods by 842.2% in the second quarter. Gotham Asset Management LLC now owns 289,022 shares of the company’s stock worth $10,607,000 after buying an additional 258,346 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new stake in shares of United Natural Foods in the second quarter worth $9,083,000.
In other United Natural Foods news, insider Christopher P. Testa sold 4,744 shares of United Natural Foods stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $49.47, for a total value of $234,685.68. Following the completion of the sale, the insider now directly owns 14,782 shares in the company, valued at $731,265.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Sean Griffin sold 12,351 shares of United Natural Foods stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $49.41, for a total transaction of $610,262.91. The disclosure for this sale can be found here. Insiders sold 103,191 shares of company stock valued at $5,140,875 over the last quarter. Corporate insiders own 1.40% of the company’s stock.
United Natural Foods announced that its Board of Directors has authorized a share buyback program on Friday, October 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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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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