Victory Capital Management Inc. Grows Stock Position in United Natural Foods, Inc. $UNFI

Key Points

• Victory Capital Management increased its stake in United Natural Foods by 721.3% in Q3 to 615,889 shares, representing about 1.01% of the company and valued at roughly $23.17 million.
• Insider activity included Director James C. Pappas buying 15,000 shares at an average price of $33.76 (≈$506,400) while Louis Anthony Martin sold 9,439 shares at $34.67.
• Wall Street consensus is a Hold with a target price of $38.78, institutional ownership is about 87.63%, and the stock trades near $38.88 with a market cap of approximately $2.37 billion and a 52‑week range of $20.78–$43.29.

Victory Capital Management Inc. raised its position in United Natural Foods, Inc. (NYSE:UNFI - Free Report) by 721.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 615,889 shares of the company's stock after acquiring an additional 540,897 shares during the period. Victory Capital Management Inc. owned approximately 1.01% of United Natural Foods worth $23,170,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of UNFI. EverSource Wealth Advisors LLC boosted its position in shares of United Natural Foods by 84.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,332 shares of the company's stock worth $31,000 after purchasing an additional 609 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of United Natural Foods by 32.0% in the third quarter. Smartleaf Asset Management LLC now owns 1,563 shares of the company's stock valued at $59,000 after purchasing an additional 379 shares during the last quarter. Covestor Ltd increased its position in United Natural Foods by 56.5% during the third quarter. Covestor Ltd now owns 3,830 shares of the company's stock worth $144,000 after buying an additional 1,382 shares in the last quarter. Lazard Asset Management LLC increased its position in United Natural Foods by 21.7% during the 2nd quarter. Lazard Asset Management LLC now owns 5,277 shares of the company's stock worth $123,000 after purchasing an additional 942 shares in the last quarter. Finally, Xponance Inc. acquired a new position in shares of United Natural Foods in the third quarter valued at approximately $201,000. 87.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director James C. Pappas purchased 15,000 shares of the firm's stock in a transaction that occurred on Friday, January 2nd. The stock was acquired at an average cost of $33.76 per share, for a total transaction of $506,400.00. Following the completion of the acquisition, the director owned 192,178 shares in the company, valued at $6,487,929.28. This trade represents a 8.47% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Louis Anthony Martin sold 9,439 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $34.67, for a total transaction of $327,250.13. Following the completion of the sale, the insider owned 81,234 shares of the company's stock, valued at approximately $2,816,382.78. The trade was a 10.41% decrease in their position. The SEC filing for this sale provides additional information. 2.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

UNFI has been the subject of several analyst reports. Zacks Research lowered United Natural Foods from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. Weiss Ratings reissued a "sell (d-)" rating on shares of United Natural Foods in a research report on Friday, January 9th. Roth Mkm reissued a "neutral" rating and set a $35.00 price target on shares of United Natural Foods in a research report on Thursday, December 11th. Wells Fargo & Company lowered their price objective on United Natural Foods from $37.00 to $35.00 and set an "equal weight" rating for the company in a research note on Friday, December 19th. Finally, BMO Capital Markets restated an "outperform" rating on shares of United Natural Foods in a research note on Thursday, December 11th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $38.78.

United Natural Foods Stock Performance

United Natural Foods stock opened at $38.88 on Tuesday. The firm's 50 day simple moving average is $36.94 and its 200-day simple moving average is $35.57. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.38 and a quick ratio of 0.50. United Natural Foods, Inc. has a fifty-two week low of $20.78 and a fifty-two week high of $43.29. The company has a market cap of $2.37 billion, a P/E ratio of -23.42 and a beta of 1.00.

United Natural Foods Profile

United Natural Foods, Inc NYSE: UNFI is a leading distributor of natural, organic and specialty foods in North America. Founded in 1976 and headquartered in Providence, Rhode Island, the company has grown through strategic acquisitions and organic expansion to become one of the largest food distributors serving retail, foodservice and e-commerce customers.

UNFI's core business centers on the procurement, warehousing and distribution of a broad portfolio of products, including fresh produce, groceries, frozen foods, dairy, bakery items, beverages, supplements and household essentials.

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