Short Interest in United Natural Foods, Inc. (NYSE:UNFI) Increases By 2,750.6%

Key Points

• Short interest in United Natural Foods, Inc. increased dramatically by 2,750.6% in July, rising to 4,980,000 shares from 174,700 in June, indicating potential market bearishness.
• Major institutional investors, including Marshall Wace LLP and Nuveen LLC, have significantly increased their stakes in United Natural Foods, with institutional ownership now at 87.63%.
• Analysts have set a consensus price target of $28.13 for the stock, with varying upgrades and downgrades from firms like Deutsche Bank and UBS, reflecting differing outlooks on its performance.

United Natural Foods, Inc. (NYSE:UNFI - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 4,980,000 shares, agrowthof2,750.6% from the June 30th total of 174,700 shares. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is currently 4.6 days. Based on an average daily volume of 1,080,000 shares, the short-interest ratio is currently 4.6 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP lifted its stake in United Natural Foods by 207.0% during the fourth quarter. Marshall Wace LLP now owns 1,357,212 shares of the company's stock valued at $37,065,000 after buying an additional 915,177 shares in the last quarter. Nuveen LLC bought a new stake in shares of United Natural Foods in the first quarter valued at approximately $24,171,000. Senvest Management LLC bought a new position in United Natural Foods in the fourth quarter worth $18,161,000. American Century Companies Inc. raised its stake in United Natural Foods by 20.6% during the first quarter. American Century Companies Inc. now owns 2,433,948 shares of the company's stock worth $66,666,000 after acquiring an additional 415,700 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of United Natural Foods by 162.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 587,697 shares of the company's stock valued at $16,050,000 after buying an additional 363,962 shares in the last quarter. 87.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $24.00 price target on United Natural Foods and gave the stock a "hold" rating in a report on Thursday, June 12th. Wells Fargo & Company upgraded shares of United Natural Foods from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $25.00 to $26.00 in a research note on Wednesday, July 16th. UBS Group upped their price target on shares of United Natural Foods from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. The Goldman Sachs Group cut their price target on shares of United Natural Foods from $30.00 to $26.00 and set a "neutral" rating for the company in a research report on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of United Natural Foods from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $28.13.

United Natural Foods Trading Down 1.5%

Shares of UNFI traded down $0.42 during trading on Friday, reaching $27.22. 466,793 shares of the company traded hands, compared to its average volume of 884,818. The company has a quick ratio of 0.51, a current ratio of 1.41 and a debt-to-equity ratio of 1.21. The stock has a market cap of $1.65 billion, a PE ratio of -23.59 and a beta of 0.82. The stock has a 50-day simple moving average of $25.33 and a 200-day simple moving average of $27.11. United Natural Foods has a twelve month low of $12.00 and a twelve month high of $34.76.

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

About United Natural Foods

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.

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