United Natural Foods (NYSE:UNFI) Given New $40.00 Price Target at Jefferies Financial Group

United Natural Foods (NYSE:UNFI) had its price objective raised by Jefferies Financial Group from $27.00 to $40.00 in a report issued on Wednesday morning, Marketbeat Ratings reports. Jefferies Financial Group currently has a hold rating on the stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company raised their target price on shares of United Natural Foods from $26.00 to $36.00 and gave the company an “equal weight” rating in a report on Wednesday. Roth Capital raised their target price on shares of United Natural Foods from $25.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft set a $24.00 target price on shares of United Natural Foods and gave the company a “hold” rating in a report on Thursday, June 12th. The Goldman Sachs Group dropped their target price on shares of United Natural Foods from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, June 12th. Finally, Zacks Research upgraded shares of United Natural Foods from a “hold” rating to a “strong-buy” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $36.00.

United Natural Foods Stock Performance

Shares of UNFI opened at $39.48 on Wednesday. The company has a 50-day simple moving average of $28.55 and a 200-day simple moving average of $26.77. The company has a quick ratio of 0.51, a current ratio of 1.32 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $2.39 billion, a PE ratio of -20.24 and a beta of 0.88. United Natural Foods has a 52-week low of $18.81 and a 52-week high of $39.69.

United Natural Foods (NYSE:UNFI) last posted its earnings results on Tuesday, September 30th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.07. United Natural Foods had a negative net margin of 0.37% and a positive return on equity of 2.74%. The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.61 billion. During the same period last year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts predict that United Natural Foods will post 0.76 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Danielle Benedict sold 11,655 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $35.31, for a total value of $411,538.05. Following the sale, the insider directly owned 89,544 shares of the company’s stock, valued at approximately $3,161,798.64. This trade represents a 11.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On United Natural Foods

Several hedge funds have recently modified their holdings of the stock. Praxis Investment Management Inc. acquired a new stake in shares of United Natural Foods in the third quarter worth approximately $225,000. Texas Permanent School Fund Corp boosted its position in shares of United Natural Foods by 2.2% in the second quarter. Texas Permanent School Fund Corp now owns 76,710 shares of the company’s stock worth $1,788,000 after acquiring an additional 1,624 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in United Natural Foods by 1.1% in the second quarter. Thrivent Financial for Lutherans now owns 44,607 shares of the company’s stock valued at $1,040,000 after buying an additional 492 shares during the period. State of Wyoming raised its holdings in United Natural Foods by 23.3% in the second quarter. State of Wyoming now owns 11,974 shares of the company’s stock valued at $279,000 after buying an additional 2,264 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in United Natural Foods by 8.6% in the second quarter. Public Sector Pension Investment Board now owns 206,313 shares of the company’s stock valued at $4,809,000 after buying an additional 16,325 shares during the period. 87.63% of the stock is owned by institutional investors and hedge funds.

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.