Victory Capital Management Inc. Grows Stock Holdings in United Natural Foods, Inc. (NYSE:UNFI)

Key Points

• Victory Capital Management Inc. increased its stake in United Natural Foods by 493.1% in Q1 2023, owning 64,383 shares worth approximately $1.76 million.
• United Natural Foods reported earnings of $0.44 per share, surpassing analysts' expectations and showing a 7.5% year-over-year revenue increase to $8.06 billion.
• Analysts have mixed views on the stock with a current consensus rating of "Hold" and an average price target of $28.13, alongside several target adjustments from major financial institutions.

Victory Capital Management Inc. raised its position in United Natural Foods, Inc. (NYSE:UNFI - Free Report) by 493.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,383 shares of the company's stock after buying an additional 53,528 shares during the quarter. Victory Capital Management Inc. owned 0.11% of United Natural Foods worth $1,763,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. acquired a new position in United Natural Foods in the 4th quarter valued at $27,000. Aquatic Capital Management LLC bought a new position in shares of United Natural Foods in the 4th quarter valued at $47,000. Sterling Capital Management LLC increased its stake in shares of United Natural Foods by 796.2% in 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 last quarter. Quarry LP increased its stake 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 valued at $73,000 after purchasing an additional 1,535 shares during the last quarter. Finally, KBC Group NV bought a new position in shares of United Natural Foods in the 1st quarter valued at $78,000. Institutional investors own 87.63% of the company's stock.

United Natural Foods Stock Performance

Shares of UNFI stock traded down $0.62 during trading on Friday, hitting $27.02. The company's stock had a trading volume of 962,679 shares, compared to its average volume of 888,374. The company has a market cap of $1.64 billion, a PE ratio of -23.50 and a beta of 0.82. The company has a current ratio of 1.41, a quick ratio of 0.51 and a debt-to-equity ratio of 1.21. The business has a fifty day moving average of $25.33 and a 200-day moving average of $27.11. United Natural Foods, Inc. has a 52 week low of $12.00 and a 52 week high of $34.76.

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 for the quarter, beating the consensus estimate 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 business had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.78 billion. During the same period in the prior year, the company earned $0.10 earnings per share. United Natural Foods's revenue was up 7.5% compared to the same quarter last year. As a group, research analysts anticipate that United Natural Foods, Inc. will post 0.76 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on UNFI shares. Northcoast Research upgraded United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 price target on the stock in a research note on Tuesday, July 22nd. Deutsche Bank Aktiengesellschaft set a $24.00 price objective on United Natural Foods and gave the stock a "hold" rating in a research report on Thursday, June 12th. UBS Group boosted their price objective on United Natural Foods from $26.00 to $29.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Wells Fargo & Company upgraded United Natural Foods from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $25.00 to $26.00 in a research report on Wednesday, July 16th. Finally, Wall Street Zen upgraded United Natural Foods from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.