United Natural Foods (NYSE:UNFI) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company has increased the target price for United Natural Foods (UNFI) from $26.00 to $36.00, maintaining an "equal weight" rating on the stock.
• Analysts' ratings show a mix of opinions, with BMO Capital Markets raising its target to $48.00 while Goldman Sachs reduced it to $26.00, resulting in a consensus rating of "Moderate Buy."
• In its latest earnings report, United Natural Foods posted an EPS of ($0.11), beating estimates, but reported a 5.6% decrease in year-over-year revenue.

United Natural Foods (NYSE:UNFI - Get Free Report) had its target price increased by Wells Fargo & Company from $26.00 to $36.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would suggest a potential downside of 4.23% from the company's current price.

Other analysts have also recently issued reports about the company. BMO Capital Markets raised their target price on United Natural Foods from $36.00 to $48.00 and gave the company an "outperform" rating in a research report on Wednesday. The Goldman Sachs Group decreased their price target on United Natural Foods from $30.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, June 12th. UBS Group restated a "buy" rating on shares of United Natural Foods in a research note on Wednesday. Zacks Research upgraded shares of United Natural Foods from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 15th. Finally, Northcoast Research upgraded shares of United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 price target on the stock in a research report on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $32.25.

United Natural Foods Trading Up 18.4%

NYSE:UNFI opened at $37.59 on Wednesday. United Natural Foods has a 12-month low of $18.81 and a 12-month high of $38.06. 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 business has a 50 day simple moving average of $28.32 and a 200 day simple moving average of $26.68. The firm has a market capitalization of $2.28 billion, a P/E ratio of -32.69 and a beta of 0.90.

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, beating analysts' consensus estimates of ($0.18) by $0.07. United Natural Foods had a negative net margin of 0.21% and a positive return on equity of 3.13%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.61 billion. During the same period in the previous year, the business posted $0.01 EPS. United Natural Foods's revenue was down 5.6% on a year-over-year basis. Equities research analysts predict that United Natural Foods will post 0.76 EPS for the current year.

Insiders Place Their Bets

In other United Natural Foods news, insider Danielle Benedict sold 11,655 shares of United Natural Foods stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $35.31, for a total value of $411,538.05. Following the transaction, the insider owned 89,544 shares in the company, valued at approximately $3,161,798.64. The trade was a 11.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On United Natural Foods

A number of hedge funds have recently modified their holdings of the stock. Texas Permanent School Fund Corp lifted its holdings in shares of United Natural Foods by 2.2% during the second quarter. Texas Permanent School Fund Corp now owns 76,710 shares of the company's stock valued at $1,788,000 after purchasing an additional 1,624 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in United Natural Foods by 1.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 44,607 shares of the company's stock worth $1,040,000 after buying an additional 492 shares during the period. State of Wyoming lifted its stake in United Natural Foods by 23.3% during the second quarter. State of Wyoming now owns 11,974 shares of the company's stock valued at $279,000 after buying an additional 2,264 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of United Natural Foods by 8.6% in the second quarter. Public Sector Pension Investment Board now owns 206,313 shares of the company's stock worth $4,809,000 after buying an additional 16,325 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of United Natural Foods by 5.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 58,545 shares of the company's stock worth $1,365,000 after acquiring an additional 2,845 shares in the last quarter. 87.63% of the stock is currently owned by institutional investors and hedge funds.

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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