United Natural Foods (NYSE:UNFI) Shares Gap Up - Here's What Happened

United Natural Foods, Inc. (NYSE:UNFI - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $21.48, but opened at $23.21. United Natural Foods shares last traded at $22.94, with a volume of 398,047 shares changing hands.

Analyst Ratings Changes

Several equities analysts have weighed in on UNFI shares. BMO Capital Markets dropped their price objective on United Natural Foods from $32.00 to $25.00 and set a "market perform" rating on the stock in a research note on Thursday, June 12th. UBS Group reduced their target price on shares of United Natural Foods from $30.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Deutsche Bank Aktiengesellschaft set a $24.00 price target on United Natural Foods and gave the company a "hold" rating in a research report on Thursday, June 12th. Northcoast Research downgraded United Natural Foods from a "buy" rating to a "neutral" rating in a research report on Thursday, June 12th. Finally, Wall Street Zen upgraded shares of United Natural Foods from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, United Natural Foods presently has an average rating of "Hold" and an average target price of $26.43.

United Natural Foods Stock Up 6.4%

The company has a debt-to-equity ratio of 1.21, a current ratio of 1.41 and a quick ratio of 0.51. The stock has a 50 day simple moving average of $26.42 and a 200-day simple moving average of $27.51. The firm has a market cap of $1.38 billion, a PE ratio of -19.90 and a beta of 0.90.

United Natural Foods (NYSE:UNFI - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.22. United Natural Foods had a positive return on equity of 3.13% and a negative net margin of 0.21%. The firm had revenue of $8.06 billion during the quarter, compared to analyst estimates of $7.78 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. United Natural Foods's quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts predict that United Natural Foods, Inc. will post 0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On United Natural Foods

A number of hedge funds have recently added to or reduced their stakes in UNFI. Caitong International Asset Management Co. Ltd increased its holdings in shares of 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 purchasing an additional 920 shares in the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of United Natural Foods during the fourth quarter valued at $27,000. Harvest Fund Management Co. Ltd bought a new stake in United Natural Foods in the 4th quarter worth about $37,000. Aquatic Capital Management LLC purchased a new position in United Natural Foods in the 4th quarter worth about $47,000. Finally, Sterling Capital Management LLC lifted its stake in United Natural Foods by 796.2% during the 4th 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 during the period. 87.63% of the stock is currently owned by hedge funds and other institutional investors.

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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