United Natural Foods (NYSE:UNFI) Given New $42.00 Price Target at UBS Group

United Natural Foods (NYSE:UNFI) had its target price upped by UBS Group from $29.00 to $42.00 in a report released on Wednesday morning, MarketBeat Ratings reports. UBS Group currently has a neutral rating on the stock.

Several other brokerages also recently weighed in on UNFI. Deutsche Bank Aktiengesellschaft set a $24.00 target price on shares of United Natural Foods and gave the company a “hold” rating in a research note on Thursday, June 12th. BMO Capital Markets lifted their price objective on shares of United Natural Foods from $36.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday. Northcoast Research upgraded shares of United Natural Foods from a “neutral” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Tuesday, July 22nd. The Goldman Sachs Group lowered their price objective on shares of United Natural Foods from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, June 12th. Finally, Wells Fargo & Company lifted their price objective on shares of United Natural Foods from $26.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, United Natural Foods presently has a consensus rating of “Hold” and a consensus price target of $36.00.

United Natural Foods Price Performance

NYSE UNFI opened at $39.48 on Wednesday. The company has a market cap 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. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.51 and a current ratio of 1.32. The firm’s 50 day moving average price is $28.55 and its 200-day moving average price is $26.77.

United Natural Foods (NYSE:UNFI) last announced 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. The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.61 billion. United Natural Foods had a negative net margin of 0.37% and a positive return on equity of 2.74%. United Natural Foods’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.01 earnings per share. Sell-side analysts forecast that United Natural Foods will post 0.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other United Natural Foods news, insider Danielle Benedict sold 11,655 shares of United Natural Foods stock in a transaction 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 completion of the transaction, the insider owned 89,544 shares of the company’s stock, valued at approximately $3,161,798.64. The trade was a 11.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.10% of the company’s stock.

Institutional Trading of United Natural Foods

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd grew its position in shares of United Natural Foods by 1,672.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 975 shares of the company’s stock valued at $27,000 after purchasing an additional 920 shares during the period. Farther Finance Advisors LLC boosted its position in United Natural Foods by 88.3% during the second quarter. Farther Finance Advisors LLC now owns 1,077 shares of the company’s stock worth $25,000 after acquiring an additional 505 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in United Natural Foods by 84.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,332 shares of the company’s stock worth $31,000 after acquiring an additional 609 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in United Natural Foods during the first quarter worth about $69,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in United Natural Foods during the first quarter worth about $73,000. Institutional investors and hedge funds own 87.63% of the company’s stock.

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.