Nuveen LLC Acquires New Holdings in United Natural Foods, Inc. $UNFI

Key Points

• Nuveen LLC has acquired a new stake in United Natural Foods, Inc., purchasing 882,485 shares valued at approximately $24.17 million, giving them a 1.46% ownership in the company.
• United Natural Foods reported $0.44 earnings per share (EPS) for the last quarter, exceeding analysts' expectations of $0.22, and a revenue of $8.06 billion, which is up 7.5% year over year.
• As of now, the stock has a consensus rating of "Hold" with an average target price of $28.13 from various analysts, showing mixed sentiments about its market performance.

Nuveen LLC acquired a new stake in United Natural Foods, Inc. (NYSE:UNFI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 882,485 shares of the company's stock, valued at approximately $24,171,000. Nuveen LLC owned about 1.46% of United Natural Foods at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CWM LLC increased its position in United Natural Foods by 19.5% during the 1st quarter. CWM LLC now owns 3,229 shares of the company's stock valued at $88,000 after purchasing an additional 526 shares during the period. Federated Hermes Inc. increased its position in United Natural Foods by 1.0% during the 1st quarter. Federated Hermes Inc. now owns 66,035 shares of the company's stock valued at $1,809,000 after purchasing an additional 653 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in United Natural Foods by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,414 shares of the company's stock valued at $913,000 after purchasing an additional 1,245 shares during the period. Quarry LP increased its position in United Natural Foods by 135.6% during the 4th quarter. Quarry LP now owns 2,667 shares of the company's stock valued at $73,000 after purchasing an additional 1,535 shares during the period. Finally, Sterling Capital Management LLC increased its position in United Natural Foods by 796.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,882 shares of the company's stock valued at $51,000 after purchasing an additional 1,672 shares during the period. Institutional investors own 87.63% of the company's stock.

United Natural Foods Price Performance

Shares of UNFI opened at $26.62 on Tuesday. United Natural Foods, Inc. has a 12-month low of $13.05 and a 12-month high of $34.76. The business's fifty day moving average is $24.70 and its 200 day moving average is $26.90. The company has a quick ratio of 0.51, a current ratio of 1.41 and a debt-to-equity ratio of 1.21. The stock has a market cap of $1.61 billion, a P/E ratio of -23.15 and a beta of 0.82.

United Natural Foods (NYSE:UNFI - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $8.06 billion for the quarter, compared to analysts' expectations of $7.78 billion. During the same period last year, the business earned $0.10 EPS. United Natural Foods's quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts anticipate that United Natural Foods, Inc. will post 0.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on UNFI shares. BMO Capital Markets reduced their price objective on shares of United Natural Foods from $32.00 to $25.00 and set a "market perform" rating for the company in a research report on Thursday, June 12th. Northcoast Research raised shares of United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 price objective for the company in a research report on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $24.00 price objective on shares of United Natural Foods and gave the stock a "hold" rating in a research report on Thursday, June 12th. The Goldman Sachs Group reduced their price objective on shares of United Natural Foods from $30.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, June 12th. Finally, Wells Fargo & Company raised shares of United Natural Foods from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $25.00 to $26.00 in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, United Natural Foods presently has a consensus rating of "Hold" and an average target price of $28.13.

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.

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