Engineers Gate Manager LP Sells 90,563 Shares of United Natural Foods, Inc. $UNFI

Key Points

• Engineers Gate Manager LP cut its United Natural Foods stake by 80.9% in the second quarter, selling 90,563 shares and retaining 21,365 shares valued at approximately $976,000. Institutional investors collectively own 87.63% of UNFI.
• UNFI shares opened at $46.84, with analysts holding a consensus “Hold” rating and an average price target of $50.29. Recent ratings ranged from BMO Capital’s $61 “outperform” to Weiss Ratings’ “sell.”
• United Natural Foods reported quarterly EPS of $0.69, beating the $0.62 consensus estimate, while revenue reached $7.64 billion, slightly below expectations and down 0.7% year over year.

Engineers Gate Manager LP trimmed its holdings in shares of United Natural Foods, Inc. (NYSE:UNFI - Free Report) by 80.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,365 shares of the company's stock after selling 90,563 shares during the quarter. Engineers Gate Manager LP's holdings in United Natural Foods were worth $976,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of UNFI. Integrated Wealth Concepts LLC bought a new stake in United Natural Foods in the second quarter worth about $27,000. Nykredit A S bought a new position in United Natural Foods in the 2nd quarter worth approximately $104,000. Corient Private Wealth LP grew its stake in United Natural Foods by 0.6% in the 2nd quarter. Corient Private Wealth LP now owns 51,301 shares of the company's stock valued at $2,343,000 after buying an additional 318 shares in the last quarter. Amundi grew its stake in United Natural Foods by 1,489.8% in the 2nd quarter. Amundi now owns 193,430 shares of the company's stock valued at $8,834,000 after buying an additional 181,263 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in United Natural Foods by 3.0% during the 2nd quarter. HighTower Advisors LLC now owns 7,726 shares of the company's stock valued at $353,000 after acquiring an additional 222 shares during the period. 87.63% of the stock is currently owned by institutional investors.

Insider Activity at United Natural Foods

In other news, insider Mark Bushway sold 10,000 shares of United Natural Foods 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 approximately $2,635,695.64. The trade was a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on UNFI. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of United Natural Foods in a report on Monday, July 6th. Wall Street Zen upgraded United Natural Foods from a "hold" rating to a "buy" rating in a research note on Saturday. BMO Capital Markets reissued an "outperform" rating and set a $61.00 price objective on shares of United Natural Foods in a report on Wednesday, September 9th. Roth Capital restated a "neutral" rating and issued a $45.00 price objective (up from $43.00) on shares of United Natural Foods in a research report on Thursday, September 10th. Finally, BTIG Research reaffirmed a "neutral" rating on shares of United Natural Foods in a research note on Wednesday, September 9th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, United Natural Foods currently has an average rating of "Hold" and an average target price of $50.29.

United Natural Foods Trading Up 1.2%

Shares of UNFI stock opened at $46.84 on Friday. The firm has a market cap of $2.83 billion, a P/E ratio of 34.95 and a beta of 0.80. The business has a 50-day moving average price of $47.34 and a two-hundred day moving average price of $47.21. The company has a quick ratio of 0.49, a current ratio of 1.29 and a debt-to-equity ratio of 0.97. United Natural Foods, Inc. has a 12-month low of $28.71 and a 12-month high of $57.02.

United Natural Foods (NYSE:UNFI - Get Free Report) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.07. United Natural Foods had a net margin of 0.27% and a return on equity of 10.51%. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.71 billion. During the same period in the previous year, the business posted ($0.11) EPS. The business's quarterly revenue was down .7% on a year-over-year basis. United Natural Foods has set its FY 2027 guidance at 3.000-3.500 EPS. Equities analysts anticipate that United Natural Foods, Inc. will post 3.3 EPS for the current fiscal year.

About United Natural Foods

United Natural Foods, Inc NYSE: UNFI is a distributor of natural, organic, specialty, fresh and conventional food products in the United States and Canada. The company supplies grocery retailers, independent stores, supermarkets, e-commerce businesses, foodservice operators and other customers with a broad range of products.

UNFI's offerings include produce, perishables, center-store groceries, refrigerated and frozen foods, beverages, supplements, personal-care products and household items.

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