United Natural Foods, Inc. $UNFI Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 325,476 shares of United Natural Foods in the second quarter, worth approximately $14.9 million and representing about 0.54% of the company. Institutional investors and hedge funds collectively own 87.63% of UNFI.
• Analysts remain cautious, with UNFI carrying an average “Hold” rating and a consensus price target of $50.29. Recent target prices range from $45 at Roth Capital to $61 at BMO Capital Markets.
• UNFI shares opened at $45.97, down 0.4%, while the company’s latest quarterly earnings of $0.69 per share exceeded expectations of $0.62. Revenue reached $7.64 billion, though it declined 0.7% year over year.

Bank of America Corp DE acquired a new stake in shares of United Natural Foods, Inc. (NYSE:UNFI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 325,476 shares of the company's stock, valued at approximately $14,864,000. Bank of America Corp DE owned approximately 0.54% of United Natural Foods at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Man Group plc acquired a new stake in United Natural Foods during the second quarter worth about $488,000. Invst LLC bought a new stake in shares of United Natural Foods in the 2nd quarter worth approximately $880,000. Miller Value Partners LLC bought a new stake in shares of United Natural Foods in the 2nd quarter worth approximately $215,000. Jupiter Topco LLC acquired a new stake in shares of United Natural Foods during the 2nd quarter worth approximately $1,295,000. Finally, Hsbc Holdings PLC bought a new position in United Natural Foods during the 2nd quarter valued at about $11,761,000. 87.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on UNFI shares. 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. Zacks Research downgraded shares of United Natural Foods from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. Wall Street Zen upgraded shares of United Natural Foods from a "hold" rating to a "buy" rating in a research note on Saturday, September 19th. BMO Capital Markets restated an "outperform" rating and set a $61.00 price objective on shares of United Natural Foods in a report on Wednesday, September 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on United Natural Foods from $46.00 to $53.00 and gave the company a "hold" rating in a research report on Friday, September 11th. Two research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, United Natural Foods presently has an average rating of "Hold" and an average target price of $50.29.

United Natural Foods Stock Down 0.4%

Shares of NYSE UNFI opened at $45.97 on Friday. The business has a 50-day simple moving average of $46.97 and a two-hundred day simple moving average of $47.48. The company has a market cap of $2.77 billion, a P/E ratio of 34.30 and a beta of 0.80. 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 52 week low of $30.02 and a 52 week high of $57.02.

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

United Natural Foods Profile

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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