United Natural Foods (NYSE:UNFI) Trading Down 5.5% – Here’s Why

United Natural Foods, Inc. (NYSE:UNFI)’s share price fell 5.5% during mid-day trading on Wednesday . The stock traded as low as $27.95 and last traded at $27.99. 807,811 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 690,372 shares. The stock had previously closed at $29.62.

Analyst Upgrades and Downgrades

UNFI has been the topic of a number of recent analyst reports. Roth Mkm increased their price target on shares of United Natural Foods from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday. BMO Capital Markets lifted their target price on United Natural Foods from $23.00 to $32.00 and gave the stock a “market perform” rating in a report on Wednesday. UBS Group upped their price target on United Natural Foods from $16.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Guggenheim reiterated a “neutral” rating on shares of United Natural Foods in a report on Thursday. Finally, The Goldman Sachs Group upped their target price on shares of United Natural Foods from $15.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, United Natural Foods currently has a consensus rating of “Hold” and a consensus target price of $22.60.

United Natural Foods Stock Up 0.1 %

The company’s 50-day moving average price is $22.26 and its 200 day moving average price is $17.00. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.52 and a current ratio of 1.48. The stock has a market cap of $1.71 billion, a PE ratio of -18.15 and a beta of 0.64.

United Natural Foods (NYSE:UNFI) last released its quarterly earnings results on Tuesday, December 10th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.18. United Natural Foods had a negative net margin of 0.30% and a positive return on equity of 1.27%. The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.61 billion. During the same period last year, the firm earned ($0.04) earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts forecast that United Natural Foods, Inc. will post 0.66 EPS for the current fiscal year.

Insider Activity at United Natural Foods

In related news, insider Danielle Benedict sold 9,050 shares of the stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $22.10, for a total value of $200,005.00. Following the completion of the sale, the insider now directly owns 88,218 shares of the company’s stock, valued at approximately $1,949,617.80. This represents a 9.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On United Natural Foods

A number of hedge funds have recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of United Natural Foods in the second quarter worth about $28,000. CWM LLC boosted its stake in United Natural Foods by 661.8% in the 2nd quarter. CWM LLC now owns 3,314 shares of the company’s stock worth $43,000 after purchasing an additional 2,879 shares during the period. Van ECK Associates Corp grew its holdings in United Natural Foods by 12.2% during the 2nd quarter. Van ECK Associates Corp now owns 6,584 shares of the company’s stock valued at $86,000 after buying an additional 716 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of United Natural Foods during the second quarter valued at approximately $94,000. Finally, Innealta Capital LLC purchased a new position in shares of United Natural Foods in the second quarter worth $97,000. 87.63% of the stock is currently owned by institutional investors.

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.