United Natural Foods (NASDAQ:UNFI) Shares Down 5.5%

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Shares of United Natural Foods Inc (NASDAQ:UNFI) dropped 5.5% on Friday . The company traded as low as $7.74 and last traded at $7.75, approximately 769,431 shares traded hands during trading. A decline of 39% from the average daily volume of 1,257,429 shares. The stock had previously closed at $8.20.

UNFI has been the topic of a number of recent research reports. Buckingham Research restated a “neutral” rating and set a $11.00 target price (down from $17.00) on shares of United Natural Foods in a research note on Thursday, June 6th. They noted that the move was a valuation call. BidaskClub lowered shares of United Natural Foods from a “hold” rating to a “sell” rating in a research note on Saturday, August 17th. Zacks Investment Research upgraded shares of United Natural Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. BMO Capital Markets lowered shares of United Natural Foods from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $10.00 to $5.00 in a research note on Friday, August 2nd. Finally, Pivotal Research restated a “sell” rating and set a $6.00 target price (down from $8.00) on shares of United Natural Foods in a research note on Thursday, June 6th. Seven analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $18.59.

The firm has a market capitalization of $408.46 million, a price-to-earnings ratio of 2.49, a P/E/G ratio of 0.82 and a beta of 2.15. The company has a fifty day moving average price of $8.87 and a two-hundred day moving average price of $11.50. The company has a quick ratio of 0.74, a current ratio of 1.59 and a debt-to-equity ratio of 1.77.

United Natural Foods (NASDAQ:UNFI) last posted its quarterly earnings data on Wednesday, June 5th. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.10. United Natural Foods had a return on equity of 8.58% and a net margin of 1.09%. The business had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the company earned $1.04 earnings per share. The company’s revenue was up 125.1% compared to the same quarter last year. On average, equities analysts anticipate that United Natural Foods Inc will post 1.73 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of UNFI. BlackRock Inc. raised its position in United Natural Foods by 3.2% in the second quarter. BlackRock Inc. now owns 7,746,160 shares of the company’s stock worth $69,484,000 after acquiring an additional 240,001 shares in the last quarter. Vanguard Group Inc. increased its position in shares of United Natural Foods by 10.1% in the second quarter. Vanguard Group Inc. now owns 5,548,900 shares of the company’s stock valued at $49,774,000 after buying an additional 509,989 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of United Natural Foods by 247.3% during the second quarter. Bank of America Corp DE now owns 2,383,841 shares of the company’s stock valued at $21,383,000 after acquiring an additional 1,697,419 shares during the last quarter. Towle & Co. boosted its stake in shares of United Natural Foods by 27.9% during the second quarter. Towle & Co. now owns 2,000,497 shares of the company’s stock valued at $17,944,000 after acquiring an additional 436,960 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of United Natural Foods by 162.6% during the second quarter. Invesco Ltd. now owns 1,238,590 shares of the company’s stock valued at $11,110,000 after acquiring an additional 766,843 shares during the last quarter. 98.17% of the stock is owned by hedge funds and other institutional investors.

United Natural Foods Company Profile (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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