$5.82 Billion in Sales Expected for United Natural Foods Inc (NYSE:UNFI) This Quarter

Analysts forecast that United Natural Foods Inc (NYSE:UNFI) will report $5.82 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for United Natural Foods’ earnings. The highest sales estimate is $5.82 billion and the lowest is $5.81 billion. United Natural Foods reported sales of $2.87 billion during the same quarter last year, which indicates a positive year over year growth rate of 102.8%. The business is scheduled to issue its next quarterly earnings results on Thursday, December 5th.

On average, analysts expect that United Natural Foods will report full year sales of $23.68 billion for the current year, with estimates ranging from $23.47 billion to $23.90 billion. For the next year, analysts expect that the business will post sales of $24.70 billion, with estimates ranging from $24.19 billion to $25.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow United Natural Foods.

United Natural Foods (NYSE:UNFI) last posted its quarterly earnings results on Tuesday, October 1st. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.08). United Natural Foods had a negative net margin of 1.33% and a positive return on equity of 6.59%. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the previous year, the business posted $0.76 EPS. The company’s quarterly revenue was up 147.2% on a year-over-year basis.

Several analysts have issued reports on UNFI shares. Pivotal Research lowered their price objective on shares of United Natural Foods from $6.00 to $3.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. BMO Capital Markets downgraded shares of United Natural Foods from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $10.00 to $5.00 in a research report on Friday, August 2nd. Wells Fargo & Co lowered their price objective on shares of United Natural Foods from $10.00 to $9.00 and set a “market perform” rating for the company in a research report on Wednesday, October 2nd. Loop Capital lowered their price objective on shares of United Natural Foods to $14.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Finally, ValuEngine raised shares of United Natural Foods from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Seven analysts have rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $14.06.

NYSE UNFI traded up $0.09 during mid-day trading on Friday, hitting $7.12. The company’s stock had a trading volume of 1,329,136 shares, compared to its average volume of 1,812,811. United Natural Foods has a 52-week low of $6.75 and a 52-week high of $28.01. The stock’s fifty day simple moving average is $9.71 and its two-hundred day simple moving average is $10.44. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.69 and a quick ratio of 0.70. The firm has a market capitalization of $394.88 million, a P/E ratio of 3.62, a price-to-earnings-growth ratio of 0.61 and a beta of 2.18.

In related news, Director Peter Roy purchased 10,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was acquired at an average price of $7.50 per share, with a total value of $75,000.00. Following the completion of the transaction, the director now owns 49,154 shares of the company’s stock, valued at $368,655. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Towle & Co. grew its position in shares of United Natural Foods by 27.9% during the second quarter. Towle & Co. now owns 2,000,497 shares of the company’s stock worth $17,944,000 after buying an additional 436,960 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of United Natural Foods by 4,283.3% during the second quarter. Renaissance Technologies LLC now owns 574,212 shares of the company’s stock worth $5,151,000 after buying an additional 561,112 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of United Natural Foods during the second quarter worth approximately $175,000. Atria Investments LLC acquired a new stake in shares of United Natural Foods during the second quarter worth approximately $8,584,000. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in United Natural Foods by 10.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 196,370 shares of the company’s stock worth $1,762,000 after purchasing an additional 18,785 shares during the period. 93.13% of the stock is 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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