United Natural Foods (NYSE:UNFI) Rating Increased to Outperform at BMO Capital Markets

Key Points

• BMO Capital Markets upgraded United Natural Foods from a "market perform" to an "outperform" rating, raising the price target from $25.00 to $36.00, indicating a potential upside of 23.25% from the stock's last close.
• While multiple analysts have varying ratings for UNFI, the consensus from MarketBeat shows a "Moderate Buy" and an average target price of $29.50 for the stock.
• Hedge funds and institutional investors own 87.63% of United Natural Foods, with notable recent stakes acquired by firms like UBS AM and GAMMA Investing.

United Natural Foods (NYSE:UNFI - Get Free Report) was upgraded by BMO Capital Markets from a "market perform" rating to an "outperform" rating in a report released on Thursday,Benzinga reports. The brokerage presently has a $36.00 price target on the stock, up from their previous price target of $25.00. BMO Capital Markets' price objective points to a potential upside of 23.25% from the stock's previous close.

Several other equities research analysts have also weighed in on the company. The Goldman Sachs Group cut their target price on United Natural Foods from $30.00 to $26.00 and set a "neutral" rating on the stock in a research report on Thursday, June 12th. Northcoast Research raised United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 target price on the stock in a research report on Tuesday, July 22nd. Wells Fargo & Company raised United Natural Foods from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $25.00 to $26.00 in a research report on Wednesday, July 16th. Zacks Research raised United Natural Foods from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 15th. Finally, Deutsche Bank Aktiengesellschaft set a $24.00 price target on United Natural Foods and gave the stock a "hold" rating in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, United Natural Foods has an average rating of "Moderate Buy" and a consensus target price of $29.50.

United Natural Foods Stock Performance

Shares of UNFI opened at $29.21 on Thursday. The stock has a 50-day simple moving average of $27.86 and a 200-day simple moving average of $26.49. 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 stock has a market capitalization of $1.77 billion, a PE ratio of -25.40 and a beta of 0.90. United Natural Foods has a 1 year low of $16.27 and a 1 year high of $34.76.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. 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 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 buying an additional 29,357 shares in the last quarter. Brighton Jones LLC acquired a new position in United Natural Foods during the fourth quarter worth $656,000. GAMMA Investing LLC grew its holdings in United Natural Foods by 2,671.4% during the first quarter. GAMMA Investing LLC now owns 56,177 shares of the company's stock worth $1,539,000 after acquiring an additional 54,150 shares during the period. Range Financial Group LLC acquired a new position in United Natural Foods during the first quarter worth $1,253,000. Finally, Lisanti Capital Growth LLC acquired a new position in United Natural Foods during the first quarter worth $2,570,000. 87.63% of the stock is currently owned by hedge funds and other institutional investors.

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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