Oppenheimer Reaffirms “Hold” Rating for United Natural Foods (NASDAQ:UNFI)

United Natural Foods (NASDAQ:UNFI)‘s stock had its “hold” rating restated by equities researchers at Oppenheimer in a research note issued on Tuesday, December 5th.

A number of other equities research analysts have also commented on UNFI. Loop Capital reaffirmed a “buy” rating and issued a $50.00 price objective (up from $44.00) on shares of United Natural Foods in a research note on Thursday, September 14th. Susquehanna Bancshares began coverage on shares of United Natural Foods in a report on Monday, October 16th. They set a “neutral” rating and a $43.00 price objective on the stock. Zacks Investment Research upgraded shares of United Natural Foods from a “sell” rating to a “hold” rating in a report on Friday, September 15th. Stephens assumed coverage on shares of United Natural Foods in a report on Friday, August 11th. They issued an “equal weight” rating and a $50.00 target price for the company. Finally, Wells Fargo & Co reiterated a “hold” rating and issued a $38.00 target price on shares of United Natural Foods in a report on Thursday, September 14th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. United Natural Foods has an average rating of “Hold” and a consensus price target of $43.33.

Shares of United Natural Foods (NASDAQ UNFI) traded down $0.04 during mid-day trading on Tuesday, hitting $49.27. 372,178 shares of the company traded hands, compared to its average volume of 963,178. The company has a quick ratio of 0.82, a current ratio of 2.25 and a debt-to-equity ratio of 0.25. The company has a market cap of $2,485.27, a P/E ratio of 19.10, a price-to-earnings-growth ratio of 3.08 and a beta of 1.46. United Natural Foods has a 1-year low of $29.53 and a 1-year high of $52.69.

United Natural Foods (NASDAQ:UNFI) last released its quarterly earnings data on Thursday, December 7th. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.60. United Natural Foods had a net margin of 1.39% and a return on equity of 8.04%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the company earned $0.58 EPS. equities research analysts anticipate that United Natural Foods will post 2.74 earnings per share for the current fiscal year.

United Natural Foods declared that its board has approved a stock repurchase program on Friday, October 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

In related news, Director Bates Ann Torre sold 7,190 shares of United Natural Foods stock in a transaction on Friday, October 6th. The shares were sold at an average price of $40.16, for a total value of $288,750.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James P. Heffernan sold 7,580 shares of United Natural Foods stock in a transaction on Monday, December 18th. The shares were sold at an average price of $52.01, for a total transaction of $394,235.80. The disclosure for this sale can be found here. Insiders have sold 48,327 shares of company stock worth $2,323,217 over the last three months. Insiders own 1.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. CS Mckee LP boosted its holdings in shares of United Natural Foods by 0.4% during the 2nd quarter. CS Mckee LP now owns 24,700 shares of the company’s stock valued at $906,000 after buying an additional 100 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of United Natural Foods by 2.8% during the 2nd quarter. Amalgamated Bank now owns 7,179 shares of the company’s stock valued at $263,000 after buying an additional 196 shares in the last quarter. Suntrust Banks Inc. boosted its holdings in shares of United Natural Foods by 2.5% during the 2nd quarter. Suntrust Banks Inc. now owns 8,628 shares of the company’s stock valued at $316,000 after buying an additional 214 shares in the last quarter. Arizona State Retirement System boosted its stake in United Natural Foods by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 21,300 shares of the company’s stock worth $782,000 after purchasing an additional 300 shares in the last quarter. Finally, State Treasurer State of Michigan boosted its stake in United Natural Foods by 1.5% in the 2nd quarter. State Treasurer State of Michigan now owns 20,900 shares of the company’s stock worth $767,000 after purchasing an additional 300 shares in the last quarter.

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About United Natural Foods

United Natural Foods, Inc is a distributor and retailer of natural, organic and specialty products. The Company’s segments include Wholesale and Other. The Wholesale segment is engaged in the national distribution of natural, organic and specialty foods, produce and related products in the United States and Canada.

Analyst Recommendations for United Natural Foods (NASDAQ:UNFI)

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