Connor Clark & Lunn Investment Management Ltd. Has $2.66 Million Stock Holdings in United Natural Foods, Inc. (NYSE:UNFI)

Key Points

• Connor Clark & Lunn Investment Management Ltd. has reduced its stake in United Natural Foods, Inc. by 19.1%, currently owning 0.16% of the company valued at approximately $2.66 million after selling 22,904 shares.
• Several institutional investors significantly increased their holdings in United Natural Foods, with Marshall Wace LLP raising its stake by 207.0% to own over 1.35 million shares valued at $37 million.
• United Natural Foods reported earnings of $0.44 per share for the recent quarter, surpassing estimates and reflecting year-over-year revenue growth of 7.5% to $8.06 billion.

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in shares of United Natural Foods, Inc. (NYSE:UNFI - Free Report) by 19.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 97,135 shares of the company's stock after selling 22,904 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of United Natural Foods worth $2,661,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. National Bank of Canada FI boosted its holdings in United Natural Foods by 560.8% in the first quarter. National Bank of Canada FI now owns 3,654 shares of the company's stock valued at $100,000 after acquiring an additional 3,101 shares during the last quarter. Deutsche Bank AG boosted its holdings in United Natural Foods by 45.6% in the first quarter. Deutsche Bank AG now owns 165,857 shares of the company's stock valued at $4,543,000 after acquiring an additional 51,952 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in United Natural Foods by 3.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 677,359 shares of the company's stock valued at $18,553,000 after acquiring an additional 20,017 shares during the last quarter. US Bancorp DE lifted its stake in United Natural Foods by 133.4% in the first quarter. US Bancorp DE now owns 12,216 shares of the company's stock valued at $335,000 after buying an additional 6,982 shares during the period. Finally, Baader Bank Aktiengesellschaft lifted its stake in United Natural Foods by 236.3% in the first quarter. Baader Bank Aktiengesellschaft now owns 49,608 shares of the company's stock valued at $1,351,000 after buying an additional 34,857 shares during the period. Institutional investors own 87.63% of the company's stock.

Analyst Ratings Changes

UNFI has been the topic of several analyst reports. Northcoast Research raised United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 target price on the stock in a research note on Tuesday, July 22nd. BMO Capital Markets cut their target price on United Natural Foods from $32.00 to $25.00 and set a "market perform" rating on the stock in a research note on Thursday, June 12th. The Goldman Sachs Group cut their target price on United Natural Foods from $30.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, June 12th. UBS Group increased their target price on United Natural Foods from $26.00 to $29.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Finally, Deutsche Bank Aktiengesellschaft set a $24.00 target price on United Natural Foods and gave the company a "hold" rating in a research note on Thursday, June 12th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $28.13.

United Natural Foods Stock Down 0.2%

Shares of NYSE UNFI traded down $0.05 during mid-day trading on Friday, reaching $26.37. 838,803 shares of the company's stock were exchanged, compared to its average volume of 966,053. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -22.93 and a beta of 0.82. The company has a current ratio of 1.41, a quick ratio of 0.51 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $24.68 and a 200 day simple moving average of $26.94. United Natural Foods, Inc. has a twelve month low of $13.05 and a twelve month high of $34.76.

United Natural Foods (NYSE:UNFI - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.22. United Natural Foods had a positive return on equity of 3.13% and a negative net margin of 0.21%. The business had revenue of $8.06 billion for the quarter, compared to analyst estimates of $7.78 billion. During the same quarter last year, the firm earned $0.10 EPS. United Natural Foods's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, equities analysts expect that United Natural Foods, Inc. will post 0.76 EPS for the current fiscal year.

United Natural Foods 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.