BMO Capital Markets Forecasts Strong Price Appreciation for United Natural Foods (NYSE:UNFI) Stock

United Natural Foods (NYSE:UNFI) had its price objective raised by analysts at BMO Capital Markets from $23.00 to $32.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ target price would indicate a potential upside of 12.40% from the stock’s current price.

A number of other equities research analysts have also issued reports on UNFI. Northcoast Research upgraded United Natural Foods from a “neutral” rating to a “buy” rating in a research note on Friday, October 11th. UBS Group increased their target price on United Natural Foods from $16.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group upped their price target on United Natural Foods from $15.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.60.

United Natural Foods Stock Up 1.4 %

NYSE UNFI opened at $28.47 on Wednesday. United Natural Foods has a 52 week low of $8.58 and a 52 week high of $32.20. 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 company has a market capitalization of $1.71 billion, a P/E ratio of -18.13 and a beta of 0.64. The stock’s 50-day moving average price is $22.26 and its 200-day moving average price is $17.00.

United Natural Foods (NYSE:UNFI) last released its earnings results on Tuesday, December 10th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.18. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.61 billion. United Natural Foods had a negative net margin of 0.36% and a positive return on equity of 0.54%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) EPS. On average, equities research analysts predict that United Natural Foods will post 0.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Danielle Benedict sold 15,152 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $19.78, for a total value of $299,706.56. Following the completion of the transaction, the insider now directly owns 100,423 shares of the company’s stock, valued at approximately $1,986,366.94. This trade represents a 13.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On United Natural Foods

Several institutional investors have recently bought and sold shares of UNFI. State Street Corp boosted its holdings in shares of United Natural Foods by 1.5% in the 3rd quarter. State Street Corp now owns 2,383,733 shares of the company’s stock worth $40,094,000 after purchasing an additional 34,522 shares during the period. Private Management Group Inc. boosted its stake in United Natural Foods by 49.5% during the second quarter. Private Management Group Inc. now owns 1,773,670 shares of the company’s stock worth $23,235,000 after buying an additional 587,163 shares during the period. Geode Capital Management LLC increased its position in United Natural Foods by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,358,340 shares of the company’s stock valued at $22,852,000 after acquiring an additional 14,928 shares during the last quarter. American Century Companies Inc. raised its stake in shares of United Natural Foods by 23.1% in the second quarter. American Century Companies Inc. now owns 1,267,280 shares of the company’s stock valued at $16,601,000 after acquiring an additional 237,496 shares during the period. Finally, Hauser Brothers GmbH raised its stake in shares of United Natural Foods by 0.6% in the third quarter. Hauser Brothers GmbH now owns 912,034 shares of the company’s stock valued at $15,340,000 after acquiring an additional 5,000 shares during the period. 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.