United Natural Foods (NYSE:UNFI) Share Price Breaks Below Two Hundred Day Moving Average - Here's Why

Key Points

• UNFI shares fell below their 200-day moving average of $45.64, trading as low as $45.05 before last changing hands at $45.155.
• Analyst sentiment is broadly neutral: the consensus rating is Hold, with an average price target of $52. Recent target changes ranged from $45 to $53.
• In its latest quarter, UNFI reported EPS of $0.69, beating the $0.62 estimate, while revenue of $7.64 billion missed expectations and declined 0.7% year over year.

United Natural Foods, Inc. (NYSE:UNFI - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $45.64 and traded as low as $45.05. United Natural Foods shares last traded at $45.1550, with a volume of 660,749 shares trading hands.

Analysts Set New Price Targets

UNFI has been the topic of several analyst reports. Roth Capital reiterated a "neutral" rating and issued a $45.00 target price (up from $43.00) on shares of United Natural Foods in a research note on Thursday, September 10th. UBS Group raised their price target on shares of United Natural Foods from $47.00 to $50.00 and gave the company a "neutral" rating in a research report on Wednesday, September 9th. Zacks Research lowered shares of United Natural Foods from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft upped their price objective 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. Finally, Weiss Ratings upgraded United Natural Foods from a "sell (d-)" rating to a "hold (c)" rating in a research note on Tuesday, September 22nd. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $52.00.

United Natural Foods Stock Performance

The company has a current ratio of 1.29, a quick ratio of 0.49 and a debt-to-equity ratio of 0.97. The company has a market cap of $2.72 billion, a PE ratio of 33.70 and a beta of 1.05. The business's 50 day moving average is $45.74 and its two-hundred day moving average is $45.64.

United Natural Foods (NYSE:UNFI - Get Free Report) last issued its earnings results on Tuesday, September 8th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.07. United Natural Foods had a return on equity of 10.51% and a net margin of 0.27%. The firm had revenue of $7.64 billion for the quarter, compared to analysts' expectations of $7.71 billion. During the same period in the previous year, the firm posted ($0.11) earnings per share. The business's revenue was down .7% compared to the same quarter last year. United Natural Foods has set its FY 2027 guidance at 3.000-3.500 EPS. On average, equities research analysts anticipate that United Natural Foods, Inc. will post 3.30 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in UNFI. Sanctuary Advisors LLC purchased a new position in United Natural Foods during the 2nd quarter worth $2,493,000. BlackRock Inc. bought a new position in United Natural Foods in the second quarter worth about $477,650,000. Bank of New York Mellon Corp purchased a new stake in shares of United Natural Foods during the second quarter valued at about $18,672,000. Bank of America Corp DE bought a new stake in shares of United Natural Foods in the 2nd quarter valued at about $14,864,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of United Natural Foods by 39.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 130,250 shares of the company's stock valued at $5,949,000 after buying an additional 37,030 shares in the last quarter. Hedge funds and other institutional investors own 87.63% of the company's stock.

United Natural Foods Company Profile

United Natural Foods, Inc NYSE: UNFI is a major grocery wholesaler and distributor serving food retailers and other customers across the United States and Canada. The company supplies natural, organic, specialty, fresh, and conventional grocery products to supermarkets, independent retailers, food cooperatives, and other businesses.

UNFI's product offerings include fresh produce, dairy, meat and seafood, grocery and packaged foods, beverages, supplements, and personal-care products. In addition to distributing products from numerous manufacturers and brands, the company offers private-label products and provides services such as merchandising, marketing, category management, professional support, and supply-chain solutions.

Founded in 1976, UNFI expanded significantly through acquisitions, including its 2018 acquisition of Supervalu, which strengthened its conventional grocery distribution operations and customer network.

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