United Natural Foods (NYSE:UNFI) Shares Gap Up on Analyst Upgrade

Shares of United Natural Foods, Inc. (NYSE:UNFI) gapped up prior to trading on Thursday after BMO Capital Markets upgraded the stock from a market perform rating to an outperform rating. The stock had previously closed at $29.16, but opened at $30.31. BMO Capital Markets now has a $36.00 price target on the stock, up from their previous price target of $25.00. United Natural Foods shares last traded at $30.32, with a volume of 179,631 shares trading hands.

A number of other analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft set a $24.00 price target on United Natural Foods and gave the company a “hold” rating in a research note on Thursday, June 12th. The Goldman Sachs Group decreased their price target on United Natural Foods from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, June 12th. Zacks Research upgraded United Natural Foods from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 15th. Northcoast Research upgraded United Natural Foods from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, July 22nd. Finally, UBS Group lifted their price target on United Natural Foods from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Hedge Funds Weigh In On United Natural Foods

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Texas Permanent School Fund Corp raised its holdings in United Natural Foods by 2.2% during the second quarter. Texas Permanent School Fund Corp now owns 76,710 shares of the company’s stock worth $1,788,000 after purchasing an additional 1,624 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in United Natural Foods by 1.1% during the second quarter. Thrivent Financial for Lutherans now owns 44,607 shares of the company’s stock worth $1,040,000 after purchasing an additional 492 shares during the last quarter. State of Wyoming raised its holdings in United Natural Foods by 23.3% during the second quarter. State of Wyoming now owns 11,974 shares of the company’s stock worth $279,000 after purchasing an additional 2,264 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in United Natural Foods by 8.6% during the second quarter. Public Sector Pension Investment Board now owns 206,313 shares of the company’s stock worth $4,809,000 after purchasing an additional 16,325 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in United Natural Foods by 5.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 58,545 shares of the company’s stock worth $1,365,000 after purchasing an additional 2,845 shares during the last quarter. 87.63% of the stock is owned by institutional investors and hedge funds.

United Natural Foods Stock Performance

The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -26.27 and a beta of 0.90. The firm has a fifty day moving average of $27.92 and a 200-day moving average of $26.52. The company has a quick ratio of 0.51, a current ratio of 1.41 and a debt-to-equity ratio of 1.21.

United Natural Foods Company Profile

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.