United Natural Foods, Inc. (NYSE:UNFI) Shares Sold by Private Management Group Inc.

Key Points

• Private Management Group Inc. decreased its holdings in United Natural Foods by 31.9%, selling 209,248 shares and now owning approximately 0.74% of the company, valued at $12.2 million.
• Analysts have mixed views on United Natural Foods, with Goldman Sachs cutting its price target from $30 to $26, while others like UBS and Northcoast Research have raised their targets, suggesting a consensus rating of "Hold."
• United Natural Foods reported a quarterly earnings per share of $0.44, exceeding analysts' expectations, with revenues of $8.06 billion up by 7.5% year-over-year.

Private Management Group Inc. reduced its holdings in United Natural Foods, Inc. (NYSE:UNFI - Free Report) by 31.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 446,367 shares of the company's stock after selling 209,248 shares during the quarter. Private Management Group Inc. owned about 0.74% of United Natural Foods worth $12,226,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Hazlett Burt & Watson Inc. acquired a new position in United Natural Foods during the fourth quarter worth $27,000. Aquatic Capital Management LLC acquired a new position in United Natural Foods during the fourth quarter worth $47,000. Sterling Capital Management LLC raised its holdings in United Natural Foods by 796.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,882 shares of the company's stock worth $51,000 after purchasing an additional 1,672 shares during the last quarter. Quarry LP raised its holdings in United Natural Foods by 135.6% during the fourth quarter. Quarry LP now owns 2,667 shares of the company's stock worth $73,000 after purchasing an additional 1,535 shares during the last quarter. Finally, KBC Group NV acquired a new position in United Natural Foods during the first quarter worth $78,000. 87.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UNFI has been the subject of several research reports. Northcoast Research raised United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 price objective for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft set a $24.00 price target on United Natural Foods and gave the stock a "hold" rating in a research report on Thursday, June 12th. BMO Capital Markets dropped their price target on 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. The Goldman Sachs Group dropped their price target on 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 United Natural Foods from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $25.00 to $26.00 in a research report on Wednesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, United Natural Foods currently has an average rating of "Hold" and a consensus price target of $28.13.

United Natural Foods Trading Up 2.4%

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

United Natural Foods (NYSE:UNFI - Get Free Report) last posted its quarterly 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 firm had revenue of $8.06 billion during the quarter, compared to the consensus estimate of $7.78 billion. During the same quarter in the previous year, the business earned $0.10 earnings per share. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. Research analysts forecast that United Natural Foods, Inc. will post 0.76 EPS for the current year.

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.