Victory Capital Management Inc. Has $1.76 Million Stake 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. grew its position in United Natural Foods, Inc. (NYSE:UNFI - Free Report) by 493.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,383 shares of the company's stock after purchasing an additional 53,528 shares during the period. Victory Capital Management Inc. owned approximately 0.11% of United Natural Foods worth $1,763,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of UNFI. Hazlett Burt & Watson Inc. acquired a new stake in United Natural Foods in the fourth quarter valued at approximately $27,000. Aquatic Capital Management LLC purchased a new position in United Natural Foods in the 4th quarter valued at about $47,000. Sterling Capital Management LLC grew its stake in shares of United Natural Foods by 796.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,882 shares of the company's stock valued at $51,000 after acquiring an additional 1,672 shares in the last quarter. Quarry LP increased its position in shares of 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 acquiring an additional 1,535 shares during the last quarter. Finally, KBC Group NV acquired a new stake in United Natural Foods during the 1st quarter valued at approximately $78,000. Hedge funds and other institutional investors own 87.63% of the company's stock.

Analyst Ratings Changes

UNFI has been the subject of several research analyst reports. Wells Fargo & Company upgraded United Natural Foods from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $25.00 to $26.00 in a research note on Wednesday, July 16th. 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 report on Thursday, June 12th. Deutsche Bank Aktiengesellschaft set a $24.00 target price on shares of United Natural Foods and gave the company a "hold" rating in a research note on Thursday, June 12th. Northcoast Research upgraded United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 price objective on the stock in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded shares of 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 has an average rating of "Hold" and a consensus target price of $28.13.

United Natural Foods Stock Performance

NYSE UNFI traded down $0.62 on Friday, hitting $27.02. The stock had a trading volume of 962,679 shares, compared to its average volume of 1,175,275. The company's 50-day moving average is $25.28 and its two-hundred day moving average is $27.10. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -23.50 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 one year low of $12.00 and a one year high of $34.76.

United Natural Foods (NYSE:UNFI - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.22. The business had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.78 billion. United Natural Foods had a positive return on equity of 3.13% and a negative net margin of 0.21%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 EPS. On average, analysts expect that United Natural Foods, Inc. will post 0.76 earnings per share 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.