United Natural Foods (NASDAQ:UNFI) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other analysts also recently issued reports on UNFI. BMO Capital Markets set a $38.00 price target on shares of United Natural Foods and gave the company a “hold” rating in a research report on Tuesday, August 29th. 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 research report on Tuesday, August 29th. Zacks Investment Research downgraded shares of United Natural Foods from a “hold” rating to a “sell” rating in a research report on Monday, September 4th. Pivotal Research reissued a “sell” rating and issued a $32.00 price target on shares of United Natural Foods in a research report on Tuesday, September 12th. Finally, Loop Capital reissued a “buy” rating and issued a $50.00 price target (up previously from $44.00) on shares of United Natural Foods in a research report on Thursday, September 14th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $43.33.
Shares of United Natural Foods (NASDAQ UNFI) opened at $49.99 on Friday. United Natural Foods has a 52-week low of $29.53 and a 52-week high of $52.69. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.25 and a quick ratio of 0.82. The stock has a market cap of $2,512.99, a price-to-earnings ratio of 19.38, a P/E/G ratio of 3.12 and a beta of 1.46.
United Natural Foods declared that its board has initiated a share buyback program on Friday, October 6th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director James P. Heffernan sold 7,580 shares of United Natural Foods stock in a transaction on Monday, December 18th. The stock was sold at an average price of $52.01, for a total transaction of $394,235.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Eric A. Dorne sold 9,321 shares of United Natural Foods stock in a transaction on Tuesday, September 26th. The stock was sold at an average price of $44.34, for a total value of $413,293.14. Following the sale, the senior vice president now owns 12,346 shares in the company, valued at $547,421.64. The disclosure for this sale can be found here. Insiders have sold a total of 84,673 shares of company stock worth $3,928,210 over the last ninety days. Insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNFI. Sei Investments Co. raised its stake in shares of United Natural Foods by 47.2% during the 2nd quarter. Sei Investments Co. now owns 3,622 shares of the company’s stock worth $133,000 after purchasing an additional 1,162 shares during the period. Riverhead Capital Management LLC raised its stake in United Natural Foods by 80.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 4,695 shares of the company’s stock valued at $172,000 after acquiring an additional 2,095 shares during the period. Flinton Capital Management LLC raised its stake in United Natural Foods by 76.9% in the 2nd quarter. Flinton Capital Management LLC now owns 5,152 shares of the company’s stock valued at $189,000 after acquiring an additional 2,240 shares during the period. Balasa Dinverno & Foltz LLC bought a new stake in United Natural Foods in the 3rd quarter valued at about $208,000. Finally, Bell Bank bought a new stake in United Natural Foods in the 3rd quarter valued at about $210,000.
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United Natural Foods Company Profile
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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