United Natural Foods (UNFI) Reaches New 12-Month Low After Earnings Miss

United Natural Foods Inc (NASDAQ:UNFI)’s share price reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $20.00 and last traded at $19.54, with a volume of 31896 shares traded. The stock had previously closed at $20.32.

The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.14). United Natural Foods had a return on equity of 8.61% and a net margin of 1.09%. The company had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the previous year, the business earned $0.60 earnings per share. United Natural Foods’s revenue was up 16.7% compared to the same quarter last year.

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price target on United Natural Foods from $41.00 to $27.00 and set a “sell” rating on the stock in a research report on Monday, September 24th. Zacks Investment Research upgraded United Natural Foods from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, November 29th. Bank of America cut their price objective on United Natural Foods from $33.00 to $30.00 and set an “underperform” rating on the stock in a research report on Friday, September 21st. BidaskClub lowered United Natural Foods from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 1st. Finally, BMO Capital Markets set a $28.00 price objective on United Natural Foods and gave the stock a “hold” rating in a research report on Friday, September 21st. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. United Natural Foods has a consensus rating of “Hold” and an average price target of $32.11.

In other news, Director James P. Heffernan sold 3,820 shares of United Natural Foods stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $29.50, for a total value of $112,690.00. Following the sale, the director now directly owns 6,960 shares in the company, valued at approximately $205,320. The sale was disclosed in a filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation bought a new stake in shares of United Natural Foods during the third quarter valued at approximately $117,000. Tower Research Capital LLC TRC boosted its position in shares of United Natural Foods by 211.4% during the third quarter. Tower Research Capital LLC TRC now owns 5,219 shares of the company’s stock valued at $156,000 after purchasing an additional 3,543 shares in the last quarter. HPM Partners LLC bought a new stake in shares of United Natural Foods during the second quarter valued at approximately $223,000. NumerixS Investment Technologies Inc bought a new stake in shares of United Natural Foods during the second quarter valued at approximately $241,000. Finally, Mainstay Capital Management LLC ADV boosted its position in shares of United Natural Foods by 4,166.2% during the second quarter. Mainstay Capital Management LLC ADV now owns 6,058 shares of the company’s stock valued at $142,000 after purchasing an additional 5,916 shares in the last quarter. Institutional investors own 97.28% of the company’s stock.

The company has a quick ratio of 0.93, a current ratio of 2.56 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 4.78, a P/E/G ratio of 0.80 and a beta of 1.62.

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About United Natural Foods (NASDAQ:UNFI)

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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