United Natural Foods (NYSE:UNFI) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• The Goldman Sachs Group has raised its price target for United Natural Foods from $29.00 to $40.00, indicating a potential upside of 3.16% based on its current stock price and maintaining a "neutral" rating.
• United Natural Foods reported a quarterly loss of ($0.11) earnings per share (EPS), surpassing expectations, with revenue of $7.70 billion, despite a year-over-year decline of 5.6%.
• Various analysts have issued upgraded ratings for the company, with Zacks Research moving it from a "hold" to a "strong-buy" rating, reflecting growing investor confidence.

United Natural Foods (NYSE:UNFI - Get Free Report) had its price target lifted by analysts at The Goldman Sachs Group from $29.00 to $40.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's target price would indicate a potential upside of 3.16% from the company's current price.

A number of other research firms also recently issued reports on UNFI. Jefferies Financial Group lifted their price objective on shares of United Natural Foods from $27.00 to $40.00 and gave the stock a "hold" rating in a report on Wednesday. Wells Fargo & Company lifted their price target on shares of United Natural Foods from $26.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Northcoast Research raised United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 price objective on the stock in a research note on Tuesday, July 22nd. Roth Capital reaffirmed a "neutral" rating on shares of United Natural Foods in a research report on Wednesday. Finally, Zacks Research upgraded United Natural Foods from a "hold" rating to a "strong-buy" rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, United Natural Foods currently has an average rating of "Hold" and a consensus target price of $36.11.

United Natural Foods Stock Up 3.1%

Shares of NYSE:UNFI traded up $1.15 during midday trading on Wednesday, reaching $38.77. 1,638,361 shares of the company were exchanged, compared to its average volume of 916,227. United Natural Foods has a fifty-two week low of $18.81 and a fifty-two week high of $39.69. The firm has a market cap of $2.35 billion, a PE ratio of -33.76 and a beta of 0.90. The company has a quick ratio of 0.51, a current ratio of 1.41 and a debt-to-equity ratio of 1.21. The stock has a fifty day simple moving average of $28.32 and a two-hundred day simple moving average of $26.68.

United Natural Foods (NYSE:UNFI - Get Free Report) last issued its quarterly earnings results on Tuesday, September 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.07. United Natural Foods had a positive return on equity of 3.13% and a negative net margin of 0.21%.The business had revenue of $7.70 billion during the quarter, compared to analysts' expectations of $7.61 billion. During the same period in the previous year, the company posted $0.01 earnings per share. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that United Natural Foods will post 0.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Danielle Benedict sold 11,655 shares of the firm's stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $35.31, for a total transaction of $411,538.05. Following the completion of the transaction, the insider directly owned 89,544 shares of the company's stock, valued at $3,161,798.64. This trade represents a 11.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On United Natural Foods

A number of institutional investors and hedge funds have recently bought and sold shares of UNFI. Caitong International Asset Management Co. Ltd increased its stake in 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 valued at $27,000 after purchasing an additional 920 shares during the last quarter. Farther Finance Advisors LLC increased its position in 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 buying an additional 505 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of United Natural Foods by 84.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,332 shares of the company's stock worth $31,000 after buying an additional 609 shares during the period. Picton Mahoney Asset Management acquired a new stake in United Natural Foods in the 1st quarter worth $69,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of United Natural Foods during the 1st quarter valued at about $73,000. 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.

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