Stock Traders Buy Large Volume of Put Options on United Natural Foods (UNFI)

United Natural Foods, Inc. (NASDAQ:UNFI) saw some unusual options trading activity on Wednesday. Traders bought 2,583 put options on the stock. This is an increase of Infinity compared to the typical daily volume of 0 put options.

Several equities research analysts have commented on UNFI shares. Pivotal Research reaffirmed a “sell” rating and issued a $32.00 price target on shares of United Natural Foods in a report on Tuesday, September 12th. Royal Bank Of Canada set a $34.00 price target on shares of United Natural Foods and gave the company a “hold” rating in a report on Sunday, July 16th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $36.00 price target (up from $35.00) on shares of United Natural Foods in a report on Thursday, September 14th. Zacks Investment Research lowered shares of United Natural Foods from a “hold” rating to a “sell” rating in a report on Monday, September 4th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $50.00 price target (up from $44.00) on shares of United Natural Foods in a report on Thursday, September 14th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $42.33.

United Natural Foods (NASDAQ:UNFI) opened at $39.44 on Friday. The company has a current ratio of 2.36, a quick ratio of 0.90 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1,996.60, a price-to-earnings ratio of 15.35, a PEG ratio of 2.89 and a beta of 1.38.

United Natural Foods (NASDAQ:UNFI) last issued its quarterly earnings data on Wednesday, September 13th. The company reported $0.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the firm earned $0.70 EPS. United Natural Foods’s quarterly revenue was up 5.7% compared to the same quarter last year. research analysts forecast that United Natural Foods will post 2.71 earnings per share for the current year.

United Natural Foods declared that its board has authorized a share repurchase program on Friday, October 6th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other United Natural Foods news, COO Sean Griffin sold 8,095 shares of the company’s stock in a transaction 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 sale, the chief operating officer now directly owns 6,521 shares of the company’s stock, valued at $282,033.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Bates Ann Torre sold 7,190 shares of the company’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $40.16, for a total transaction of $288,750.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,498 shares of company stock worth $2,659,539. 1.30% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in UNFI. Principal Financial Group Inc. boosted its position in United Natural Foods by 3.9% during the 1st quarter. Principal Financial Group Inc. now owns 207,276 shares of the company’s stock worth $8,961,000 after acquiring an additional 7,773 shares during the last quarter. Legal & General Group Plc boosted its position in United Natural Foods by 12.3% during the 1st quarter. Legal & General Group Plc now owns 73,287 shares of the company’s stock worth $3,167,000 after acquiring an additional 8,008 shares during the last quarter. Vanguard Group Inc. boosted its position in United Natural Foods by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 4,265,216 shares of the company’s stock worth $184,386,000 after acquiring an additional 211,300 shares during the last quarter. Geode Capital Management LLC boosted its position in United Natural Foods by 13.3% during the 1st quarter. Geode Capital Management LLC now owns 521,303 shares of the company’s stock worth $22,535,000 after acquiring an additional 61,002 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its position in United Natural Foods by 1.4% during the 1st quarter. New York State Teachers Retirement System now owns 85,152 shares of the company’s stock worth $3,681,000 after acquiring an additional 1,200 shares during the last quarter.

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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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