United Natural Foods (NYSE:UNFI) Shares Gap Up – What’s Next?

Shares of United Natural Foods, Inc. (NYSE:UNFI) gapped up before the market opened on Friday . The stock had previously closed at $19.80, but opened at $20.85. United Natural Foods shares last traded at $20.36, with a volume of 118,420 shares trading hands.

Analyst Upgrades and Downgrades

UNFI has been the subject of a number of research reports. BMO Capital Markets raised their price objective on United Natural Foods from $14.00 to $23.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. The Goldman Sachs Group lifted their target price on shares of United Natural Foods from $15.00 to $22.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. UBS Group boosted their price target on shares of United Natural Foods from $16.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Northcoast Research upgraded United Natural Foods from a “neutral” rating to a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.40.

United Natural Foods Price Performance

The company’s 50-day simple moving average is $15.65 and its 200 day simple moving average is $13.23. The company has a quick ratio of 0.52, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -10.92 and a beta of 0.63.

United Natural Foods (NYSE:UNFI) last issued its quarterly earnings data on Tuesday, October 1st. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. United Natural Foods had a positive return on equity of 0.54% and a negative net margin of 0.36%. The business had revenue of $8.16 billion for the quarter, compared to analyst estimates of $7.94 billion. During the same quarter in the prior year, the firm posted ($0.25) EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts forecast that United Natural Foods, Inc. will post 0.64 EPS for the current year.

Insider Transactions at United Natural Foods

In related news, insider Danielle Benedict sold 15,152 shares of the company’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $19.78, for a total transaction of $299,706.56. Following the completion of the sale, the insider now directly owns 100,423 shares of the company’s stock, valued at approximately $1,986,366.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of United Natural Foods

Several hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in United Natural Foods in the 2nd quarter worth approximately $28,000. CWM LLC grew its stake in shares of United Natural Foods by 661.8% in the second quarter. CWM LLC now owns 3,314 shares of the company’s stock worth $43,000 after acquiring an additional 2,879 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in United Natural Foods during the first quarter worth $38,000. Allspring Global Investments Holdings LLC raised its stake in United Natural Foods by 317.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,634 shares of the company’s stock valued at $42,000 after purchasing an additional 2,763 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in United Natural Foods in the 1st quarter valued at $42,000. Institutional investors own 87.63% of the company’s stock.

About United Natural Foods

United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, specialty, produce, and conventional grocery and non-food products in the United States and Canada. It operates in two segments, Wholesale and Retail. The company offers grocery and general merchandise, produce, perishables and frozen foods, wellness and personal care items, and bulk and foodservice products.