United Natural Foods' (UNFI) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Weiss Ratings has reaffirmed a "sell (D-)" rating for United Natural Foods (UNFI), indicating ongoing concerns about its stock performance.
• While Weiss maintains a cautious outlook, several analysts, including Goldman Sachs and UBS, have recently raised their price targets significantly, suggesting a mixed investor sentiment.
• In its latest quarterly earnings report, UNFI exceeded EPS expectations but reported a 5.6% decline in revenue compared to the previous year, highlighting ongoing operational challenges.

United Natural Foods (NYSE:UNFI - Get Free Report)'s stock had its "sell (d-)" rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Tuesday,Weiss Ratings reports.

A number of other research analysts also recently weighed in on UNFI. The Goldman Sachs Group increased their price target on United Natural Foods from $29.00 to $40.00 and gave the company a "neutral" rating in a research note on Wednesday, October 1st. UBS Group increased their price target on United Natural Foods from $29.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. Wells Fargo & Company increased their price target on United Natural Foods from $26.00 to $36.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 1st. BMO Capital Markets increased their price target on United Natural Foods from $36.00 to $48.00 and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Finally, Northcoast Research raised United Natural Foods from a "neutral" rating to a "buy" rating and set a $36.00 price target on the stock in a research note on Tuesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, United Natural Foods has an average rating of "Hold" and an average price target of $36.00.

United Natural Foods Trading Up 1.5%

NYSE:UNFI traded up $0.64 during trading hours on Tuesday, hitting $41.98. 234,051 shares of the stock were exchanged, compared to its average volume of 936,920. The company's 50 day moving average is $30.76 and its two-hundred day moving average is $27.59. United Natural Foods has a twelve month low of $19.62 and a twelve month high of $42.96. The company has a quick ratio of 0.51, a current ratio of 1.32 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $2.55 billion, a P/E ratio of -21.54 and a beta of 0.88.

United Natural Foods (NYSE:UNFI - Get Free Report) last posted its quarterly earnings data on Tuesday, September 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.07. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.61 billion. United Natural Foods had a positive return on equity of 2.74% and a negative net margin of 0.37%.The business's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 EPS. On average, sell-side analysts anticipate that United Natural Foods will post 0.76 earnings per share for the current fiscal year.

Insider Activity at United Natural Foods

In related news, insider Danielle Benedict sold 11,655 shares of the company's stock in a transaction 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 completion of the sale, the insider owned 89,544 shares in the company, valued at $3,161,798.64. This represents a 11.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On United Natural Foods

A number of large investors have recently added to or reduced their stakes in UNFI. Farther Finance Advisors LLC increased its holdings in United Natural Foods by 88.3% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,077 shares of the company's stock worth $25,000 after purchasing an additional 505 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in United Natural Foods by 1,672.7% during 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. EverSource Wealth Advisors LLC increased its holdings in 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 purchasing an additional 609 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in United Natural Foods during the 2nd quarter worth about $66,000. Finally, Picton Mahoney Asset Management bought a new position in United Natural Foods during the 1st quarter worth about $69,000. 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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