United Natural Foods (NYSE:UNFI) Shares Gap Up - Time to Buy?

United Natural Foods, Inc. (NYSE:UNFI - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $23.39, but opened at $25.39. United Natural Foods shares last traded at $24.92, with a volume of 760,797 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UNFI. Wells Fargo & Company raised shares of United Natural Foods from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $25.00 to $26.00 in a research report on Wednesday. The Goldman Sachs 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 report on Thursday, June 12th. UBS Group lifted their price objective on United Natural Foods from $26.00 to $29.00 and gave the stock a "neutral" rating in a report on Thursday. Northcoast Research cut shares of United Natural Foods from a "buy" rating to a "neutral" rating in a report on Thursday, June 12th. Finally, Wall Street Zen raised shares of United Natural Foods from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.00.

United Natural Foods Price Performance

The business's fifty day moving average price is $25.69 and its 200-day moving average price is $27.13. The company has a market capitalization of $1.64 billion, a P/E ratio of -23.60 and a beta of 0.82. The company has a current ratio of 1.41, a quick ratio of 0.51 and a debt-to-equity ratio of 1.21.

United Natural Foods (NYSE:UNFI - Get Free Report) last issued 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 company posted $0.10 earnings per share. The company's revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts predict that United Natural Foods, Inc. will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of United Natural Foods

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of United Natural Foods by 9.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,531,673 shares of the company's stock worth $96,450,000 after acquiring an additional 314,587 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in United Natural Foods by 4.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,886,938 shares of the company's stock worth $78,842,000 after purchasing an additional 110,608 shares during the period. American Century Companies Inc. lifted its stake in United Natural Foods by 20.6% in the first quarter. American Century Companies Inc. now owns 2,433,948 shares of the company's stock worth $66,666,000 after purchasing an additional 415,700 shares during the last quarter. Marshall Wace LLP boosted its position in United Natural Foods by 207.0% during the fourth quarter. Marshall Wace LLP now owns 1,357,212 shares of the company's stock valued at $37,065,000 after buying an additional 915,177 shares during the period. Finally, Nuveen LLC bought a new position in shares of United Natural Foods during the first quarter valued at about $24,171,000. Hedge funds and other institutional investors own 87.63% of the company's stock.

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.