Connor Clark & Lunn Investment Management Ltd. Has $5.52 Million Position in United Natural Foods, Inc. $UNFI

Connor Clark & Lunn Investment Management Ltd. lifted its stake in United Natural Foods, Inc. (NYSE:UNFI) by 143.6% during the second quarter, Holdings Channel.com reports. The fund owned 236,663 shares of the company’s stock after buying an additional 139,528 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in United Natural Foods were worth $5,517,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in UNFI. Farther Finance Advisors LLC increased its position in United Natural Foods by 88.3% during the second quarter. Farther Finance Advisors LLC now owns 1,077 shares of the company’s stock worth $25,000 after buying an additional 505 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of United Natural Foods by 1,672.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 975 shares of the company’s stock valued at $27,000 after buying an additional 920 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in United Natural Foods in the 2nd quarter valued at $66,000. Picton Mahoney Asset Management bought a new stake in United Natural Foods during the first quarter worth about $69,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new stake in shares of United Natural Foods during the 1st quarter worth approximately $73,000. 87.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at United Natural Foods

In related news, insider Danielle Benedict sold 11,655 shares of the business’s stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $35.31, for a total transaction of $411,538.05. Following the completion of the transaction, the insider directly owned 89,544 shares in the company, valued at $3,161,798.64. The trade was a 11.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

United Natural Foods Trading Down 3.5%

NYSE:UNFI opened at $38.59 on Friday. The stock has a market capitalization of $2.35 billion, a PE ratio of -19.79 and a beta of 0.88. United Natural Foods, Inc. has a 12 month low of $20.63 and a 12 month high of $43.29. The company has a current ratio of 1.32, a quick ratio of 0.51 and a debt-to-equity ratio of 1.20. The firm’s 50 day moving average is $36.38 and its 200 day moving average is $29.86.

United Natural Foods (NYSE:UNFI) last posted its earnings results on Wednesday, October 1st. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.07. The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.61 billion. United Natural Foods had a negative net margin of 0.37% and a positive return on equity of 2.74%. The company’s revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. Sell-side analysts expect that United Natural Foods, Inc. will post 0.76 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on UNFI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of United Natural Foods in a research note on Tuesday, October 14th. Wells Fargo & Company increased their price objective on United Natural Foods from $26.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. The Goldman Sachs Group boosted their price target on shares of United Natural Foods from $29.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Northcoast Research raised United Natural Foods from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, July 22nd. Finally, BMO Capital Markets increased their target price on shares of United Natural Foods from $36.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, United Natural Foods has a consensus rating of “Hold” and a consensus price target of $36.00.

United Natural Foods Company Profile

United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. It operates in two segments, Wholesale and Retail. The company offers grocery and general merchandise, produce, perishables and frozen foods, wellness and personal care items, and bulk and foodservice products.