United Natural Foods, Inc. (NYSE:UNFI) Stock Position Lessened by Corton Capital Inc.

Key Points

• Corton Capital Inc. reduced its stake in United Natural Foods by 55.7% in the first quarter, now holding 14,283 shares valued at approximately $391,000.
• United Natural Foods reported a significant earnings surprise with $0.44 EPS, exceeding the consensus estimate of $0.22, and a revenue of $8.06 billion in the latest quarter.
• Recent analyst ratings for UNFI show a mix of downgrades and upgrades, with the current consensus rating at "Hold" and an average price target of $28.13.

Corton Capital Inc. cut its holdings in United Natural Foods, Inc. (NYSE:UNFI - Free Report) by 55.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,283 shares of the company's stock after selling 17,968 shares during the period. United Natural Foods accounts for 1.3% of Corton Capital Inc.'s portfolio, making the stock its 4th largest holding. Corton Capital Inc.'s holdings in United Natural Foods were worth $391,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of United Natural Foods by 19.5% in the 1st quarter. CWM LLC now owns 3,229 shares of the company's stock worth $88,000 after acquiring an additional 526 shares during the last quarter. Covestor Ltd increased its position in United Natural Foods by 36.4% during the 4th quarter. Covestor Ltd now owns 3,066 shares of the company's stock valued at $84,000 after purchasing an additional 819 shares during the period. Hazlett Burt & Watson Inc. purchased a new position in United Natural Foods during the 4th quarter valued at about $27,000. 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. Finally, Quarry LP grew its position in shares of United Natural Foods by 135.6% in the 4th quarter. Quarry LP now owns 2,667 shares of the company's stock worth $73,000 after buying an additional 1,535 shares during the last quarter. 87.63% of the stock is currently owned by institutional investors.

United Natural Foods Price Performance

Shares of United Natural Foods stock traded down $0.24 during trading hours on Thursday, reaching $27.65. 388,561 shares of the company's stock were exchanged, compared to its average volume of 885,187. United Natural Foods, Inc. has a 1 year low of $12.00 and a 1 year high of $34.76. The company has a market capitalization of $1.67 billion, a P/E ratio of -24.04 and a beta of 0.82. The business has a fifty day moving average of $25.37 and a two-hundred day moving average of $27.11. 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 (NYSE:UNFI - Get Free Report) last announced its quarterly earnings data 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 negative net margin of 0.21% and a positive return on equity of 3.13%. The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.78 billion. During the same quarter in the prior year, the firm posted $0.10 earnings per share. United Natural Foods's quarterly revenue was up 7.5% on a year-over-year basis. As a group, research analysts predict that United Natural Foods, Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on UNFI. 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. UBS Group boosted their target price on shares of United Natural Foods from $26.00 to $29.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. The Goldman Sachs Group decreased 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 note on Thursday, June 12th. BMO Capital Markets decreased 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 note on Thursday, June 12th. Finally, Wells Fargo & Company upgraded shares of United Natural Foods from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $25.00 to $26.00 in a research note on Wednesday, July 16th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $28.13.

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.