United Natural Foods (UNFI) Price Target Cut to $24.00

United Natural Foods (NASDAQ:UNFI) had its target price trimmed by Buckingham Research from $26.00 to $24.00 in a research report report published on Friday, MarketBeat Ratings reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of United Natural Foods from a buy rating to a hold rating in a research report on Thursday, August 2nd. Loop Capital set a $55.00 price objective on shares of United Natural Foods and gave the company a buy rating in a research report on Wednesday, September 12th. Royal Bank of Canada reiterated a sector perform rating and set a $32.00 price objective (down previously from $36.00) on shares of United Natural Foods in a research report on Friday, September 21st. They noted that the move was a valuation call. Pivotal Research reiterated a sell rating and set a $21.00 price objective on shares of United Natural Foods in a research report on Friday, September 21st. Finally, Bank of America lowered their price objective on shares of United Natural Foods from $33.00 to $30.00 and set an underperform rating for the company in a research report on Friday, September 21st. Six investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $33.24.

Shares of NASDAQ:UNFI opened at $20.83 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.56 and a quick ratio of 0.93. United Natural Foods has a fifty-two week low of $20.61 and a fifty-two week high of $52.69. The firm has a market cap of $1.11 billion, a P/E ratio of 6.70, a P/E/G ratio of 0.87 and a beta of 1.62.

United Natural Foods (NASDAQ:UNFI) last issued its earnings results on Thursday, September 20th. The company reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.09). United Natural Foods had a return on equity of 8.93% and a net margin of 1.62%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the company posted $0.72 EPS. United Natural Foods’s revenue was up 10.7% compared to the same quarter last year. Research analysts anticipate that United Natural Foods will post 3.44 earnings per share for the current year.

In other news, Director James P. Heffernan sold 3,820 shares of the stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $29.50, for a total value of $112,690.00. Following the sale, the director now owns 6,960 shares of the company’s stock, valued at $205,320. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Zions Bancorporation purchased a new stake in shares of United Natural Foods in the third quarter valued at $117,000. Mainstay Capital Management LLC ADV raised its stake in shares of United Natural Foods by 4,166.2% in the second quarter. Mainstay Capital Management LLC ADV now owns 6,058 shares of the company’s stock valued at $142,000 after acquiring an additional 5,916 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of United Natural Foods by 211.4% in the third quarter. Tower Research Capital LLC TRC now owns 5,219 shares of the company’s stock valued at $156,000 after acquiring an additional 3,543 shares during the period. HPM Partners LLC purchased a new stake in shares of United Natural Foods in the second quarter valued at $223,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of United Natural Foods in the second quarter valued at $241,000. 97.28% of the stock is currently owned by institutional investors and hedge funds.

About United Natural Foods

United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. The Wholesale division offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care products.

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