Norges Bank Invests $1.08 Million in United Natural Foods, Inc. (NYSE:UNFI)

Norges Bank purchased a new position in United Natural Foods, Inc. (NYSE:UNFI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 39,500 shares of the company's stock, valued at approximately $1,079,000. Norges Bank owned 0.07% of United Natural Foods at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in shares of United Natural Foods by 28.1% during the fourth quarter. American Century Companies Inc. now owns 2,018,248 shares of the company's stock worth $55,118,000 after buying an additional 442,574 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of United Natural Foods by 146.8% in the fourth quarter. JPMorgan Chase & Co. now owns 439,109 shares of the company's stock worth $11,992,000 after buying an additional 261,172 shares in the last quarter. Advisors Preferred LLC purchased a new stake in United Natural Foods in the 4th quarter valued at $3,637,000. HighTower Advisors LLC purchased a new stake in shares of United Natural Foods in the 4th quarter valued at approximately $2,867,000. Finally, Empowered Funds LLC increased its position in shares of United Natural Foods by 44.6% during the 4th quarter. Empowered Funds LLC now owns 281,713 shares of the company's stock worth $7,694,000 after purchasing an additional 86,941 shares during the last quarter. 87.63% of the stock is owned by hedge funds and other institutional investors.

United Natural Foods Stock Up 0.4 %

UNFI traded up $0.11 during trading hours on Thursday, reaching $24.34. 60,158 shares of the stock traded hands, compared to its average volume of 705,880. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.48 and a quick ratio of 0.53. United Natural Foods, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $34.76. The firm's fifty day simple moving average is $27.97 and its two-hundred day simple moving average is $25.85. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -15.46 and a beta of 1.08.

United Natural Foods (NYSE:UNFI - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.04. United Natural Foods had a positive return on equity of 1.27% and a negative net margin of 0.30%. The business had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $7.96 billion. During the same period in the previous year, the business earned $0.07 EPS. The business's quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts forecast that United Natural Foods, Inc. will post 0.76 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on UNFI shares. Wells Fargo & Company lifted their target price on United Natural Foods from $23.00 to $25.00 and gave the company an "underweight" rating in a research report on Friday, January 10th. StockNews.com raised United Natural Foods from a "hold" rating to a "buy" rating in a research report on Tuesday. The Goldman Sachs Group lifted their price target on shares of United Natural Foods from $25.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, CL King upgraded United Natural Foods from a "neutral" rating to a "buy" rating and set a $33.00 price objective for the company in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, United Natural Foods presently has a consensus rating of "Hold" and an average target price of $27.50.

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.