United Natural Foods (NYSE:UNFI) Sets New 12-Month High - Here's Why

Key Points

• United Natural Foods (NYSE:UNFI) reached a new 52-week high at $36.21, closing at $35.44, significantly up from its prior close of $31.76.
• Analysts have mixed opinions on the stock, with a consensus rating of "Moderate Buy" and an average target price of $29.50, despite one analyst giving a Strong Buy rating.
• The company reported a net loss per share of ($0.11) for the quarter, better than estimates, alongside revenue of $7.70 billion, exceeding analysts' expectations.

United Natural Foods, Inc. (NYSE:UNFI - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $36.21 and last traded at $35.44, with a volume of 433564 shares. The stock had previously closed at $31.76.

Analysts Set New Price Targets

Several research firms have recently weighed in on UNFI. The Goldman Sachs Group reduced their price target on United Natural Foods from $30.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, June 12th. Northcoast Research raised United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 price target on the stock in a research note on Tuesday, July 22nd. Wells Fargo & Company raised United Natural Foods from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $25.00 to $26.00 in a research report on Wednesday, July 16th. BMO Capital Markets upgraded shares of United Natural Foods from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $25.00 to $36.00 in a report on Thursday, September 25th. Finally, UBS Group lifted their target price on United Natural Foods from $26.00 to $29.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.50.

United Natural Foods Trading Up 14.6%

The firm has a 50 day simple moving average of $28.12 and a 200 day simple moving average of $26.60. The firm has a market cap of $2.20 billion, a P/E ratio of -31.65 and a beta of 0.90. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.51 and a current ratio of 1.41.

United Natural Foods (NYSE:UNFI - Get Free Report) last posted its earnings results on Tuesday, October 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.07. The business had revenue of $7.70 billion for the quarter, compared to analysts' expectations of $7.61 billion. United Natural Foods had a negative net margin of 0.21% and a positive return on equity of 3.13%. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. On average, equities research analysts predict that United Natural Foods, Inc. will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its holdings in United Natural Foods by 1,672.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 975 shares of the company's stock worth $27,000 after acquiring an additional 920 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of United Natural Foods by 88.3% during the second quarter. Farther Finance Advisors LLC now owns 1,077 shares of the company's stock worth $25,000 after purchasing an additional 505 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of United Natural Foods by 84.2% in the second quarter. EverSource Wealth Advisors LLC now owns 1,332 shares of the company's stock worth $31,000 after purchasing an additional 609 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in United Natural Foods during the 1st quarter valued at about $69,000. Finally, Skandinaviska Enskilda Banken AB publ bought a new position in United Natural Foods during the 1st quarter valued at approximately $73,000. 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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