United Natural Foods (NYSE:UNFI) Reaches New 1-Year High on Earnings Beat

Shares of United Natural Foods, Inc. (NYSE:UNFI) hit a new 52-week high on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $31.63 and last traded at $31.26, with a volume of 327564 shares traded. The stock had previously closed at $24.68.

The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.18. United Natural Foods had a positive return on equity of 0.54% and a negative net margin of 0.36%. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.61 billion. During the same quarter last year, the business earned ($0.04) earnings per share. United Natural Foods’s revenue was up 4.6% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UNFI. Northcoast Research raised United Natural Foods from a “neutral” rating to a “buy” rating in a research note on Friday, October 11th. BMO Capital Markets lifted their target price on United Natural Foods from $14.00 to $23.00 and gave the stock a “market perform” rating in a report on Wednesday, October 2nd. UBS Group lifted their target price on United Natural Foods from $16.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their target price on United Natural Foods from $15.00 to $22.00 and gave the stock a “neutral” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, United Natural Foods has an average rating of “Hold” and a consensus price target of $18.40.

Insiders Place Their Bets

In related news, insider Danielle Benedict sold 9,050 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $22.10, for a total transaction of $200,005.00. Following the transaction, the insider now directly owns 88,218 shares of the company’s stock, valued at approximately $1,949,617.80. This trade represents a 9.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On United Natural Foods

Several institutional investors and hedge funds have recently bought and sold shares of UNFI. Price T Rowe Associates Inc. MD boosted its position in shares of United Natural Foods by 4.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,493 shares of the company’s stock valued at $500,000 after purchasing an additional 1,994 shares in the last quarter. CWM LLC raised its stake in shares of United Natural Foods by 661.8% in the second quarter. CWM LLC now owns 3,314 shares of the company’s stock worth $43,000 after purchasing an additional 2,879 shares during the last quarter. Diversified Trust Co raised its stake in shares of United Natural Foods by 1.4% in the second quarter. Diversified Trust Co now owns 94,859 shares of the company’s stock worth $1,243,000 after purchasing an additional 1,322 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of United Natural Foods by 3.6% in the second quarter. SummerHaven Investment Management LLC now owns 37,235 shares of the company’s stock worth $488,000 after purchasing an additional 1,303 shares during the last quarter. Finally, Keynote Financial Services LLC raised its stake in shares of United Natural Foods by 6.6% in the second quarter. Keynote Financial Services LLC now owns 17,517 shares of the company’s stock worth $229,000 after purchasing an additional 1,091 shares during the last quarter. 87.63% of the stock is currently owned by institutional investors.

United Natural Foods Stock Up 22.5 %

The company has a 50 day moving average price of $21.78 and a two-hundred day moving average price of $16.71. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 0.52. The stock has a market cap of $1.81 billion, a PE ratio of -16.54 and a beta of 0.64.

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.