United Natural Foods, Inc. (UNFI) Lowered to C+ at TheStreet

TheStreet cut shares of United Natural Foods, Inc. (NASDAQ:UNFI) from a b- rating to a c+ rating in a research report report published on Friday.

Several other brokerages have also recently weighed in on UNFI. BMO Capital Markets reissued a market perform rating and set a $40.00 price objective (up from $38.00) on shares of United Natural Foods in a research note on Thursday, September 14th. Argus raised United Natural Foods from a hold rating to a buy rating and set a $49.00 price objective on the stock in a research note on Monday, September 25th. Royal Bank Of Canada cut United Natural Foods from a sector perform rating to an underperform rating and reduced their price objective for the stock from $36.00 to $34.00 in a research note on Tuesday, October 17th. Jefferies Group LLC reissued a hold rating on shares of United Natural Foods in a research note on Monday, October 16th. Finally, Susquehanna Bancshares Inc started coverage on United Natural Foods in a research note on Monday, October 16th. They set a neutral rating and a $43.00 price objective on the stock. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $42.33.

Shares of United Natural Foods (UNFI) traded up 1.55% during midday trading on Friday, reaching $38.68. The company had a trading volume of 170,286 shares. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 15.11 and a beta of 1.43. United Natural Foods has a 52 week low of $29.53 and a 52 week high of $49.74. The stock has a 50-day moving average of $40.34 and a 200 day moving average of $38.66.

United Natural Foods (NASDAQ:UNFI) last issued its quarterly earnings data on Wednesday, September 13th. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.02. United Natural Foods had a return on equity of 8.10% and a net margin of 1.40%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts anticipate that United Natural Foods will post $2.72 earnings per share for the current year.

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United Natural Foods announced that its Board of Directors has initiated a share repurchase plan on Friday, October 6th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

In related news, Director Bates Ann Torre sold 7,190 shares of the business’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $40.16, for a total value of $288,750.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Sean Griffin sold 8,095 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $43.25, for a total value of $350,108.75. Following the completion of the sale, the chief operating officer now owns 6,521 shares of the company’s stock, valued at approximately $282,033.25. The disclosure for this sale can be found here. Insiders sold 61,498 shares of company stock valued at $2,659,539 in the last quarter. 1.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in UNFI. BlackRock Inc. boosted its holdings in shares of United Natural Foods by 16,599.3% in the first quarter. BlackRock Inc. now owns 5,252,416 shares of the company’s stock valued at $227,062,000 after purchasing an additional 5,220,963 shares during the period. Kiltearn Partners LLP purchased a new stake in shares of United Natural Foods in the second quarter valued at approximately $74,701,000. Dimensional Fund Advisors LP boosted its holdings in shares of United Natural Foods by 30.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,010,466 shares of the company’s stock valued at $147,183,000 after purchasing an additional 939,946 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in shares of United Natural Foods by 161.6% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,509,167 shares of the company’s stock valued at $55,386,000 after purchasing an additional 932,281 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of United Natural Foods by 349.1% in the second quarter. Alliancebernstein L.P. now owns 359,287 shares of the company’s stock valued at $13,186,000 after purchasing an additional 279,291 shares during the period.

About United Natural Foods

United Natural Foods, Inc is a distributor and retailer of natural, organic and specialty products. The Company’s segments include Wholesale and Other. The Wholesale segment is engaged in the national distribution of natural, organic and specialty foods, produce and related products in the United States and Canada.

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