United Natural Foods (NYSE:UNFI) Shares Up 6.6% on Better-Than-Expected Earnings

Shares of United Natural Foods, Inc. (NYSE:UNFI) were up 6.6% during trading on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $26.32 and last traded at $26.19. Approximately 203,130 shares were traded during trading, a decline of 69% from the average daily volume of 647,407 shares. The stock had previously closed at $24.57.

The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $8.16 billion during the quarter, compared to analyst estimates of $7.96 billion. United Natural Foods had a positive return on equity of 1.27% and a negative net margin of 0.30%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UNFI shares. The Goldman Sachs Group upped their price target on shares of United Natural Foods from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Guggenheim reissued a “neutral” rating on shares of United Natural Foods in a research report on Thursday, December 12th. Roth Mkm boosted their price objective on shares of United Natural Foods from $20.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. BMO Capital Markets boosted their price target on shares of United Natural Foods from $23.00 to $32.00 and gave the company a “market perform” rating in a report on Wednesday, December 11th. Finally, CL King upgraded shares of United Natural Foods from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $27.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UNFI. Versant Capital Management Inc raised its holdings in shares of United Natural Foods by 66.5% in the 4th quarter. Versant Capital Management Inc now owns 931 shares of the company’s stock worth $25,000 after buying an additional 372 shares in the last quarter. Hazlett Burt & Watson Inc. bought a new stake in shares of United Natural Foods during the fourth quarter worth $27,000. Harvest Fund Management Co. Ltd bought a new stake in United Natural Foods during the 4th quarter worth about $37,000. Aquatic Capital Management LLC acquired a new position in United Natural Foods in the fourth quarter valued at approximately $47,000. Finally, Sterling Capital Management LLC lifted its stake in shares of United Natural Foods by 796.2% in the 4th quarter. Sterling Capital Management LLC now owns 1,882 shares of the company’s stock valued at $51,000 after purchasing an additional 1,672 shares during the period. Institutional investors own 87.63% of the company’s stock.

United Natural Foods Stock Performance

The stock has a market cap of $1.56 billion, a P/E ratio of -16.83 and a beta of 0.56. The stock has a fifty day simple moving average of $29.63 and a 200-day simple moving average of $24.03. The company has a quick ratio of 0.53, a current ratio of 1.48 and a debt-to-equity ratio of 1.39.

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.