United Natural Foods earnings beat by $0.08, revenue fell short of estimates

United Natural Foods Stock Performance

Shares of UNFI stock opened at $43.74 on Tuesday. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -66.27 and a beta of 0.80. United Natural Foods has a 1-year low of $27.97 and a 1-year high of $57.02. The company has a current ratio of 1.33, a quick ratio of 0.51 and a debt-to-equity ratio of 1.04. The stock's fifty day simple moving average is $47.60 and its 200-day simple moving average is $46.85.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of United Natural Foods in a research report on Monday, July 6th. BMO Capital Markets reissued an "outperform" rating and issued a $56.00 price target on shares of United Natural Foods in a research note on Wednesday, June 10th. UBS Group raised their price target on United Natural Foods from $44.00 to $47.00 and gave the company a "neutral" rating in a report on Wednesday, June 10th. Roth Capital reaffirmed a "neutral" rating and issued a $43.00 price objective on shares of United Natural Foods in a report on Wednesday, June 10th. Finally, Zacks Research cut shares of United Natural Foods from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $47.86.

Read Our Latest Analysis on United Natural Foods

Insider Activity at United Natural Foods

In other United Natural Foods news, insider Mark Bushway sold 10,000 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $51.56, for a total value of $515,600.00. Following the transaction, the insider owned 51,119 shares in the company, valued at $2,635,695.64. The trade was a 16.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC acquired a new position in shares of United Natural Foods during the 4th quarter valued at about $656,000. Virtu Financial LLC bought a new position in shares of United Natural Foods in the third quarter valued at approximately $215,000. ANB Bank acquired a new stake in shares of United Natural Foods in the fourth quarter worth $212,000. Canada Pension Plan Investment Board raised its holdings in United Natural Foods by 100.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 7,400 shares of the company's stock worth $172,000 after acquiring an additional 3,700 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in United Natural Foods by 366.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,715 shares of the company's stock worth $157,000 after acquiring an additional 5,276 shares during the period. Institutional investors and hedge funds own 87.63% of the company's stock.

United Natural Foods Company Profile

United Natural Foods, Inc NYSE: UNFI is a leading distributor of natural, organic and specialty foods in North America. Founded in 1976 and headquartered in Providence, Rhode Island, the company has grown through strategic acquisitions and organic expansion to become one of the largest food distributors serving retail, foodservice and e-commerce customers.

UNFI's core business centers on the procurement, warehousing and distribution of a broad portfolio of products, including fresh produce, groceries, frozen foods, dairy, bakery items, beverages, supplements and household essentials.

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