Goldman Sachs Group started coverage on shares of United Natural Foods (NASDAQ:UNFI) in a report published on Tuesday morning, Marketbeat reports. The firm issued a sell rating on the stock.
A number of other analysts have also weighed in on the stock. Morgan Stanley set a $23.00 price objective on shares of United Natural Foods and gave the stock a sell rating in a research note on Sunday, October 28th. Pivotal Research reaffirmed a sell rating and issued a $18.00 price objective (down from $21.00) on shares of United Natural Foods in a research note on Friday, October 26th. Buckingham Research lowered shares of United Natural Foods from a buy rating to a neutral rating and lowered their price objective for the stock from $41.00 to $26.00 in a research note on Wednesday, October 24th. Bank of America set a $24.00 price objective on shares of United Natural Foods and gave the stock a sell rating in a research note on Tuesday, October 23rd. Finally, Wells Fargo & Co lowered their price objective on shares of United Natural Foods from $31.00 to $25.00 and set a market perform rating for the company in a research note on Monday, October 22nd. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. United Natural Foods currently has a consensus rating of Hold and an average target price of $35.67.
Shares of NASDAQ UNFI traded down $0.01 during mid-day trading on Tuesday, reaching $22.03. The company had a trading volume of 49,240 shares, compared to its average volume of 1,358,627. The company has a current ratio of 2.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.10 billion, a PE ratio of 7.07, a PEG ratio of 0.88 and a beta of 1.36. United Natural Foods has a 52 week low of $21.16 and a 52 week high of $52.69.
United Natural Foods (NASDAQ:UNFI) last posted its quarterly earnings results on Thursday, September 20th. The company reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.09). The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.61 billion. United Natural Foods had a return on equity of 8.93% and a net margin of 1.62%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.72 earnings per share. As a group, sell-side analysts forecast that United Natural Foods will post 3.44 earnings per share for the current year.
In other United Natural Foods news, Director James P. Heffernan sold 3,820 shares of the stock in a transaction dated Tuesday, October 2nd. The shares were sold at an average price of $29.50, for a total transaction of $112,690.00. Following the completion of the sale, the director now directly owns 6,960 shares of the company’s stock, valued at $205,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in UNFI. Dalton Greiner Hartman Maher & Co. purchased a new position in shares of United Natural Foods in the 2nd quarter valued at approximately $17,459,000. Millennium Management LLC raised its position in shares of United Natural Foods by 1,619.0% in the 2nd quarter. Millennium Management LLC now owns 380,491 shares of the company’s stock valued at $16,232,000 after purchasing an additional 405,539 shares during the last quarter. BlackRock Inc. raised its position in shares of United Natural Foods by 6.1% in the 2nd quarter. BlackRock Inc. now owns 5,888,566 shares of the company’s stock valued at $251,204,000 after purchasing an additional 340,578 shares during the last quarter. Hood River Capital Management LLC raised its position in shares of United Natural Foods by 27.5% in the 2nd quarter. Hood River Capital Management LLC now owns 520,133 shares of the company’s stock valued at $22,189,000 after purchasing an additional 112,033 shares during the last quarter. Finally, Federated Investors Inc. PA raised its position in shares of United Natural Foods by 59.9% in the 2nd quarter. Federated Investors Inc. PA now owns 247,942 shares of the company’s stock valued at $10,578,000 after purchasing an additional 92,841 shares during the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.
About United Natural Foods
United Natural Foods, Inc engages in the distribution of natural, organic, and specialty foods and non-food products. It operates through the Wholesale and Other segment. The Wholesale segment distributes nutritional supplements, personal care items and organic products. The Others segment includes the sale other activities of the firm.
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