United Natural Foods (NYSE:UNFI) Price Target Raised to $40.00

Key Points

• Analysts at Jefferies Financial Group raised United Natural Foods' price target from $27.00 to $40.00, suggesting a potential upside of 1.52% from its current stock price.
• Despite positive earnings that beat estimates, United Natural Foods reported a 5.6% decline in revenue compared to the previous year, raising concerns about its financial performance.
• Insider sales included Danielle Benedict selling 11,655 shares at an average price of $35.31, decreasing their ownership stake by roughly 11.52%.

United Natural Foods (NYSE:UNFI - Get Free Report) had its price objective upped by analysts at Jefferies Financial Group from $27.00 to $40.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the stock. Jefferies Financial Group's target price indicates a potential upside of 1.52% from the stock's current price.

UNFI has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft set a $24.00 target price on shares of United Natural Foods and gave the company a "hold" rating in a report on Thursday, June 12th. Roth Capital restated a "neutral" rating on shares of United Natural Foods in a research note on Wednesday. Wells Fargo & Company upped their price target on United Natural Foods from $26.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Wednesday. UBS Group restated a "buy" rating on shares of United Natural Foods in a research report on Wednesday. Finally, The Goldman Sachs Group reduced their price target on 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $34.56.

United Natural Foods Stock Performance

UNFI traded up $1.78 during mid-day trading on Wednesday, reaching $39.40. 1,204,827 shares of the company traded hands, compared to its average volume of 914,631. The stock has a market capitalization of $2.39 billion, a P/E ratio of -34.20 and a beta of 0.90. 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 company's fifty day moving average price is $28.32 and its 200-day moving average price is $26.68. United Natural Foods has a 52-week low of $18.81 and a 52-week high of $39.69.

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

Insiders Place Their Bets

In related news, insider Danielle Benedict sold 11,655 shares of the firm's stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in United Natural Foods during the 4th quarter valued at approximately $656,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of United Natural Foods by 18.4% in the fourth 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 in the last quarter. GAMMA Investing LLC grew its holdings in shares of United Natural Foods by 2,671.4% in the first 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 in the last quarter. NBC Securities Inc. grew 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 worth $911,000 after buying an additional 33,243 shares in the last quarter. Finally, Range Financial Group LLC bought a new stake in shares of United Natural Foods in the 1st quarter worth about $1,253,000. Hedge funds and other institutional investors own 87.63% of the company's stock.

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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