United Natural Foods (NYSE:UNFI) Trading Down 6.8% - Here's Why

United Natural Foods, Inc. (NYSE:UNFI - Get Free Report) was down 6.8% during mid-day trading on Tuesday . The company traded as low as $29.21 and last traded at $29.42. Approximately 205,219 shares were traded during trading, a decline of 71% from the average daily volume of 697,194 shares. The stock had previously closed at $31.55.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on UNFI shares. Wall Street Zen raised United Natural Foods from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. CL King upgraded shares of United Natural Foods from a "neutral" rating to a "buy" rating and set a $33.00 target price on the stock in a research note on Wednesday, March 12th. Finally, The Goldman Sachs Group raised their price target on United Natural Foods from $25.00 to $28.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, United Natural Foods has an average rating of "Hold" and an average target price of $27.50.

United Natural Foods Stock Down 3.6%

The company has a quick ratio of 0.53, a current ratio of 1.48 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $1.68 billion, a P/E ratio of -17.68 and a beta of 1.08. The company has a fifty day moving average price of $27.14 and a 200-day moving average price of $27.65.

United Natural Foods (NYSE:UNFI - Get Free Report) last posted its earnings results on Tuesday, March 11th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.04. The firm had revenue of $8.16 billion during the quarter, compared to analyst estimates of $7.96 billion. United Natural Foods had a negative net margin of 0.30% and a positive return on equity of 1.27%. United Natural Foods's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.07 earnings per share. As a group, research analysts forecast that United Natural Foods, Inc. will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On United Natural Foods

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd lifted its position in shares of United Natural Foods by 1,672.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 975 shares of the company's stock worth $27,000 after purchasing an additional 920 shares during the last quarter. Hazlett Burt & Watson Inc. bought a new stake in United Natural Foods during the 4th quarter valued at about $27,000. Harvest Fund Management Co. Ltd purchased a new stake in United Natural Foods in the 4th quarter valued at about $37,000. Aquatic Capital Management LLC purchased a new position in shares of United Natural Foods during the fourth quarter worth approximately $47,000. Finally, Sterling Capital Management LLC raised its stake in shares of United Natural Foods by 796.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,882 shares of the company's stock valued at $51,000 after acquiring an additional 1,672 shares in the last quarter. 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.