United Natural Foods (NYSE:UNFI) Updates FY 2024 Earnings Guidance

United Natural Foods (NYSE:UNFIGet Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of -0.200-0.200 for the period, compared to the consensus earnings per share estimate of -0.060. The company issued revenue guidance of $30.5 billion-$31.0 billion, compared to the consensus revenue estimate of $30.8 billion. United Natural Foods also updated its FY24 guidance to ($0.20)-$0.20 EPS.

United Natural Foods Stock Down 5.3 %

Shares of UNFI opened at $14.71 on Friday. The company’s 50-day moving average price is $10.55 and its 200 day moving average price is $13.42. United Natural Foods has a 12-month low of $8.58 and a 12-month high of $23.28. The company has a current ratio of 1.51, a quick ratio of 0.54 and a debt-to-equity ratio of 1.28. The firm has a market cap of $874.80 million, a P/E ratio of -6.10 and a beta of 0.61.

United Natural Foods (NYSE:UNFIGet Free Report) last released its quarterly earnings results on Wednesday, June 5th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The business had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.51 billion. United Natural Foods had a negative net margin of 0.47% and a negative return on equity of 0.35%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. On average, sell-side analysts forecast that United Natural Foods will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

UNFI has been the subject of a number of research reports. UBS Group lifted their price objective on United Natural Foods from $14.00 to $16.00 and gave the company a neutral rating in a research note on Thursday. Roth Mkm lifted their target price on United Natural Foods from $13.00 to $14.00 and gave the company a neutral rating in a research report on Thursday. Wells Fargo & Company reduced their price target on shares of United Natural Foods from $15.00 to $12.00 and set an underweight rating on the stock in a research report on Thursday, March 7th. Finally, StockNews.com upgraded shares of United Natural Foods from a sell rating to a hold rating in a report on Friday. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $13.60.

View Our Latest Stock Analysis on United Natural Foods

Insider Buying and Selling at United Natural Foods

In related news, CAO Richard Eric Esper sold 4,375 shares of United Natural Foods stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $11.35, for a total value of $49,656.25. Following the completion of the transaction, the chief accounting officer now owns 32,865 shares in the company, valued at $373,017.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by corporate insiders.

About United Natural Foods

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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.

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Earnings History and Estimates for United Natural Foods (NYSE:UNFI)

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