Legato Capital Management LLC Takes Position in United Natural Foods, Inc. (NYSE:UNFI)

Key Points

• Legato Capital Management LLC has acquired 20,940 shares of United Natural Foods, Inc. (NYSE: UNFI) valued at approximately $574,000, marking a new position for the institutional investor.
• United Natural Foods reported a quarterly earnings per share (EPS) of $0.44, exceeding analyst estimates, with a year-over-year revenue increase of 7.5% to $8.06 billion.
• Equities analysts have provided mixed ratings on UNFI, with price targets ranging from $24.00 to $36.00, reflecting varied outlooks on the company's performance.

Legato Capital Management LLC bought a new position in shares of United Natural Foods, Inc. (NYSE:UNFI - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,940 shares of the company's stock, valued at approximately $574,000.

Several other institutional investors and hedge funds have also bought and sold shares of UNFI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in United Natural Foods by 18.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 188,642 shares of the company's stock worth $5,152,000 after buying an additional 29,357 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of United Natural Foods in the fourth quarter valued at approximately $324,000. Brighton Jones LLC acquired a new position in shares of United Natural Foods in the fourth quarter valued at approximately $656,000. GAMMA Investing LLC grew its position in shares of United Natural Foods by 2,671.4% in the first quarter. GAMMA Investing LLC now owns 56,177 shares of the company's stock valued at $1,539,000 after purchasing an additional 54,150 shares during the last quarter. Finally, Range Financial Group LLC acquired a new position in shares of United Natural Foods in the first quarter valued at approximately $1,253,000. Institutional investors own 87.63% of the company's stock.

United Natural Foods Price Performance

Shares of UNFI stock traded up $0.67 during trading on Friday, hitting $28.19. The company had a trading volume of 1,405,563 shares, compared to its average volume of 1,244,401. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.51 and a current ratio of 1.41. The firm has a market capitalization of $1.71 billion, a P/E ratio of -24.51 and a beta of 0.82. The stock's 50-day moving average price is $25.50 and its 200 day moving average price is $27.10. United Natural Foods, Inc. has a one year low of $12.00 and a one year high of $34.76.

United Natural Foods (NYSE:UNFI - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $8.06 billion during the quarter, compared to analysts' expectations of $7.78 billion. During the same period in the prior year, the company earned $0.10 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts expect that United Natural Foods, Inc. will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on UNFI. Wall Street Zen raised United Natural Foods from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. 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 report on Tuesday. Deutsche Bank Aktiengesellschaft set a $24.00 target price on United Natural Foods and gave the company a "hold" rating in a research report on Thursday, June 12th. Wells Fargo & Company raised United Natural Foods from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $25.00 to $26.00 in a research report on Wednesday, July 16th. Finally, The Goldman Sachs Group decreased their target price on United Natural Foods from $30.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, June 12th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, United Natural Foods presently has a consensus rating of "Hold" and an average price target of $28.13.

About United Natural Foods

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.