United Natural Foods (NYSE:UNFI) Stock Price Up 6.6% After Strong Earnings

United Natural Foods, Inc. (NYSE:UNFI) shares traded up 6.6% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $26.32 and last traded at $26.19. 203,130 shares were traded during trading, a decline of 69% from the average session volume of 647,407 shares. The stock had previously closed at $24.57.

The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $7.96 billion. United Natural Foods had a negative net margin of 0.30% and a positive return on equity of 1.27%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.07 earnings per share.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on UNFI shares. The Goldman Sachs Group lifted their price target on United Natural Foods from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Guggenheim restated a “neutral” rating on shares of United Natural Foods in a research report on Thursday, December 12th. CL King raised shares of United Natural Foods from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a report on Wednesday. Wells Fargo & Company boosted their price target on shares of United Natural Foods from $23.00 to $25.00 and gave the company an “underweight” rating in a report on Friday, January 10th. Finally, Roth Mkm boosted their price target on shares of United Natural Foods from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $27.50.

Institutional Investors Weigh In On United Natural Foods

A number of hedge funds and other institutional investors have recently bought and sold shares of UNFI. Marshall Wace LLP raised its position in United Natural Foods by 207.0% in the 4th quarter. Marshall Wace LLP now owns 1,357,212 shares of the company’s stock valued at $37,065,000 after buying an additional 915,177 shares during the last quarter. Senvest Management LLC acquired a new stake in United Natural Foods in the 4th quarter valued at approximately $18,161,000. American Century Companies Inc. raised its position in United Natural Foods by 28.1% in the 4th quarter. American Century Companies Inc. now owns 2,018,248 shares of the company’s stock valued at $55,118,000 after buying an additional 442,574 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in United Natural Foods by 162.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 587,697 shares of the company’s stock valued at $16,050,000 after buying an additional 363,962 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in United Natural Foods by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,531,673 shares of the company’s stock valued at $96,450,000 after buying an additional 314,587 shares during the last quarter. Institutional investors and hedge funds own 87.63% of the company’s stock.

United Natural Foods Stock Performance

The firm has a market cap of $1.59 billion, a price-to-earnings ratio of -16.95 and a beta of 0.56. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.53 and a current ratio of 1.48. The stock has a 50-day moving average of $29.63 and a 200-day moving average of $24.05.

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.