Wall Street brokerages expect that United Natural Foods, Inc. (NASDAQ:UNFI) will report $2.58 billion in sales for the current quarter, according to Zacks Investment Research. Sixteen analysts have issued estimates for United Natural Foods’ earnings, with the highest sales estimate coming in at $2.63 billion and the lowest estimate coming in at $2.53 billion. United Natural Foods reported sales of $2.37 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 8.9%. The firm is expected to announce its next quarterly earnings report after the market closes on Wednesday, June 6th.
On average, analysts expect that United Natural Foods will report full-year sales of $10.09 billion for the current year, with estimates ranging from $10.01 billion to $10.19 billion. For the next fiscal year, analysts anticipate that the company will post sales of $10.76 billion per share, with estimates ranging from $10.42 billion to $11.17 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover United Natural Foods.
United Natural Foods (NASDAQ:UNFI) last issued its quarterly earnings data on Thursday, March 8th. The company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.17. The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.45 billion. United Natural Foods had a return on equity of 8.49% and a net margin of 1.61%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $0.50 EPS.
UNFI has been the subject of several recent analyst reports. BidaskClub cut United Natural Foods from a “hold” rating to a “sell” rating in a research note on Friday, February 23rd. Pivotal Research set a $34.00 price target on United Natural Foods and gave the company a “sell” rating in a report on Tuesday, March 6th. Susquehanna Bancshares set a $51.00 price objective on United Natural Foods and gave the stock a “hold” rating in a research note on Friday, March 9th. BMO Capital Markets set a $57.00 price objective on United Natural Foods and gave the stock a “hold” rating in a research note on Thursday, March 8th. Finally, Royal Bank of Canada reiterated an “underperform” rating and issued a $38.00 target price on shares of United Natural Foods in a research report on Friday, March 9th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $44.69.
United Natural Foods traded down $0.74, reaching $45.37, during trading hours on Tuesday, MarketBeat.com reports. 41,061 shares of the company traded hands, compared to its average volume of 266,716. United Natural Foods has a 1 year low of $29.53 and a 1 year high of $52.69. The company has a current ratio of 2.33, a quick ratio of 0.90 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 1.81 and a beta of 1.43.
In related news, Director Peter Roy sold 3,990 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $43.95, for a total transaction of $175,360.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph J. Traficanti sold 6,680 shares of the company’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $47.11, for a total transaction of $314,694.80. Following the completion of the transaction, the insider now owns 9,755 shares of the company’s stock, valued at approximately $459,558.05. The disclosure for this sale can be found here. In the last three months, insiders sold 18,170 shares of company stock worth $829,280. 1.40% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in UNFI. Schwab Charles Investment Management Inc. raised its holdings in United Natural Foods by 2.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 293,682 shares of the company’s stock worth $14,470,000 after purchasing an additional 6,611 shares in the last quarter. Acadian Asset Management LLC boosted its position in United Natural Foods by 1,745.1% during the fourth quarter. Acadian Asset Management LLC now owns 38,766 shares of the company’s stock worth $1,910,000 after acquiring an additional 36,665 shares during the last quarter. Bowling Portfolio Management LLC acquired a new stake in United Natural Foods during the fourth quarter worth approximately $2,789,000. Strs Ohio boosted its position in United Natural Foods by 440.0% during the fourth quarter. Strs Ohio now owns 2,700 shares of the company’s stock worth $133,000 after acquiring an additional 2,200 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in United Natural Foods by 80.0% during the fourth quarter. SG Americas Securities LLC now owns 24,980 shares of the company’s stock worth $1,231,000 after purchasing an additional 11,100 shares during the period. 99.67% of the stock is owned by institutional investors and hedge funds.
About United Natural Foods
United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. The Wholesale division offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care products.
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