United Natural Foods (NYSE:UNFI) PT Raised to $23.00

United Natural Foods (NYSE:UNFI) had its price objective raised by equities researchers at BMO Capital Markets from $14.00 to $23.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 9.37% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. Roth Mkm lifted their target price on shares of United Natural Foods from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, June 6th. StockNews.com upgraded shares of United Natural Foods from a “sell” rating to a “hold” rating in a research report on Thursday, June 13th. Finally, UBS Group lifted their target price on shares of United Natural Foods from $16.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, United Natural Foods currently has an average rating of “Hold” and an average price target of $16.60.

United Natural Foods Price Performance

Shares of NYSE UNFI traded down $0.93 during mid-day trading on Wednesday, reaching $21.03. 936,935 shares of the company were exchanged, compared to its average volume of 688,956. United Natural Foods has a 52 week low of $8.58 and a 52 week high of $23.15. The company has a quick ratio of 0.55, a current ratio of 1.51 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $1.25 billion, a PE ratio of -8.73 and a beta of 0.64. The company’s 50 day moving average price is $14.88 and its 200 day moving average price is $12.79.

United Natural Foods (NYSE:UNFI) last posted its quarterly earnings data on Tuesday, October 1st. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. United Natural Foods had a negative net margin of 0.47% and a negative return on equity of 0.35%. The company had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $7.94 billion. During the same period in the previous year, the firm posted ($0.25) EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. Sell-side analysts forecast that United Natural Foods will post 0.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On United Natural Foods

A number of hedge funds have recently modified their holdings of UNFI. TFO Wealth Partners LLC increased its position in shares of United Natural Foods by 266,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 5,328 shares of the company’s stock valued at $86,000 after acquiring an additional 5,326 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of United Natural Foods during the fourth quarter valued at about $516,000. Invenomic Capital Management LP purchased a new position in shares of United Natural Foods during the fourth quarter valued at about $1,497,000. Bragg Financial Advisors Inc increased its position in shares of United Natural Foods by 0.8% during the fourth quarter. Bragg Financial Advisors Inc now owns 407,728 shares of the company’s stock valued at $6,617,000 after buying an additional 3,391 shares during the period. Finally, Counterpoint Mutual Funds LLC increased its position in shares of United Natural Foods by 385.6% during the first quarter. Counterpoint Mutual Funds LLC now owns 58,993 shares of the company’s stock valued at $678,000 after buying an additional 46,845 shares during the period. Hedge funds and other 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.