Zacks: Brokerages Expect United Natural Foods, Inc. (NYSE:UNFI) Will Announce Quarterly Sales of $7.09 Billion

Equities analysts expect United Natural Foods, Inc. (NYSE:UNFI – Get Rating) to post $7.09 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for United Natural Foods’ earnings, with the lowest sales estimate coming in at $6.93 billion and the highest estimate coming in at $7.36 billion. United Natural Foods posted sales of $6.62 billion in the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that United Natural Foods will report full year sales of $28.55 billion for the current financial year, with estimates ranging from $28.19 billion to $28.81 billion. For the next fiscal year, analysts expect that the firm will report sales of $29.48 billion, with estimates ranging from $29.41 billion to $29.64 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow United Natural Foods.

United Natural Foods (NYSE:UNFI – Get Rating) last released its quarterly earnings results on Wednesday, March 9th. The company reported $1.13 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.01). The firm had revenue of $7.42 billion for the quarter, compared to the consensus estimate of $7.17 billion. United Natural Foods had a return on equity of 18.64% and a net margin of 0.83%. The firm’s revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS.

Several research firms have recently commented on UNFI. UBS Group lowered their price target on shares of United Natural Foods from $64.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, March 10th. CL King began coverage on shares of United Natural Foods in a research report on Monday, March 21st. They issued a “buy” rating for the company. Wells Fargo & Company upgraded shares of United Natural Foods from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $35.00 to $38.00 in a research report on Thursday, March 17th. Zacks Investment Research lowered shares of United Natural Foods from a “strong-buy” rating to a “hold” rating and set a $41.00 target price for the company. in a research report on Tuesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of United Natural Foods from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, March 10th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.00.

In other news, CEO J Alexander Douglas, Jr. acquired 2,838 shares of United Natural Foods stock in a transaction on Friday, March 11th. The stock was bought at an average cost of $35.23 per share, with a total value of $99,982.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Richard Eric Esper sold 1,984 shares of the company’s stock in a transaction dated Wednesday, March 23rd. The shares were sold at an average price of $42.59, for a total transaction of $84,498.56. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Whittier Trust Co. purchased a new stake in shares of United Natural Foods in the fourth quarter worth approximately $34,000. Exchange Traded Concepts LLC purchased a new stake in shares of United Natural Foods in the fourth quarter worth approximately $38,000. Macquarie Group Ltd. lifted its position in shares of United Natural Foods by 280.3% in the third quarter. Macquarie Group Ltd. now owns 905 shares of the company’s stock worth $44,000 after purchasing an additional 667 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of United Natural Foods in the fourth quarter worth approximately $61,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of United Natural Foods in the fourth quarter worth approximately $104,000. 81.28% of the stock is owned by institutional investors and hedge funds.

United Natural Foods stock opened at $44.46 on Wednesday. The business’s 50-day moving average price is $40.82. The company has a market capitalization of $2.59 billion, a price-to-earnings ratio of 11.89 and a beta of 1.03. The company has a quick ratio of 0.55, a current ratio of 1.49 and a debt-to-equity ratio of 1.52. United Natural Foods has a one year low of $30.61 and a one year high of $57.89.

About United Natural Foods (Get Rating)

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, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care items.

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