UBS Group Forecasts Strong Price Appreciation for United Natural Foods (NYSE:UNFI) Stock

Key Points

• UBS Group has raised its price target for United Natural Foods (NYSE:UNFI) from $29.00 to $42.00, suggesting a potential upside of 10.60% from the current price, although it maintains a "neutral" rating.
• Other analysts have mixed views on UNFI, with Goldman Sachs lowering its target to $26.00, while Wells Fargo and BMO Capital Markets have set higher targets of $36.00 and $48.00, respectively.
• In its latest earnings report, United Natural Foods exceeded expectations with a revenue of $7.70 billion but reported a loss of ($0.11) EPS, outperforming analysts' estimates of ($0.18).

United Natural Foods (NYSE:UNFI - Get Free Report) had its price objective lifted by equities researchers at UBS Group from $29.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target would indicate a potential upside of 10.60% from the company's current price.

Other research analysts have also recently issued reports about the stock. 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 report on Thursday, June 12th. Wells Fargo & Company lifted their price target on shares of United Natural Foods from $26.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft set a $24.00 target price on shares of United Natural Foods and gave the stock a "hold" rating in a research report on Thursday, June 12th. Zacks Research raised shares of United Natural Foods from a "hold" rating to a "strong-buy" rating in a research note on Monday, September 15th. Finally, BMO Capital Markets upped their price target on shares of United Natural Foods from $36.00 to $48.00 and gave the stock an "outperform" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.88.

United Natural Foods Stock Up 0.9%

Shares of United Natural Foods stock traded up $0.35 during trading hours on Wednesday, reaching $37.97. 230,589 shares of the company were exchanged, compared to its average volume of 909,262. United Natural Foods has a 1 year low of $18.81 and a 1 year high of $39.42. The stock's fifty day moving average is $28.32 and its 200 day moving average is $26.68. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.51 and a current ratio of 1.41. The firm has a market cap of $2.30 billion, a PE ratio of -33.14 and a beta of 0.90.

United Natural Foods (NYSE:UNFI - Get Free Report) last announced its earnings results on Tuesday, September 30th. The company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.07. United Natural Foods had a negative net margin of 0.21% and a positive return on equity of 3.13%. The business had revenue of $7.70 billion during the quarter, compared to analysts' expectations of $7.61 billion. During the same period in the prior year, the company earned $0.01 earnings per share. The business's revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts forecast that United Natural Foods will post 0.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Danielle Benedict sold 11,655 shares of the firm's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $35.31, for a total transaction of $411,538.05. Following the completion of the transaction, the insider directly owned 89,544 shares of the company's stock, valued at approximately $3,161,798.64. This trade represents a 11.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On United Natural Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in shares of United Natural Foods in the 4th quarter valued at about $656,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of United Natural Foods by 18.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 188,642 shares of the company's stock valued at $5,152,000 after purchasing an additional 29,357 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of United Natural Foods by 2,671.4% in the 1st quarter. GAMMA Investing LLC now owns 56,177 shares of the company's stock valued at $1,539,000 after purchasing an additional 54,150 shares during the last quarter. NBC Securities Inc. boosted its stake in shares of United Natural Foods by 114,631.0% in the 1st quarter. NBC Securities Inc. now owns 33,272 shares of the company's stock valued at $911,000 after purchasing an additional 33,243 shares during the last quarter. Finally, Range Financial Group LLC bought a new position in shares of United Natural Foods in the 1st quarter valued at about $1,253,000. Institutional investors and hedge funds own 87.63% of the company's stock.

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.

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