United Natural Foods (NYSE:UNFI) Sets New 1-Year High After Analyst Upgrade

United Natural Foods, Inc. (NYSE:UNFI) shares reached a new 52-week high during mid-day trading on Thursday after The Goldman Sachs Group raised their price target on the stock from $25.00 to $28.00. The Goldman Sachs Group currently has a neutral rating on the stock. United Natural Foods traded as high as $32.56 and last traded at $33.12, with a volume of 62591 shares trading hands. The stock had previously closed at $31.97.

Other equities analysts have also recently issued research reports about the stock. Roth Mkm upped their target price on shares of United Natural Foods from $20.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. BMO Capital Markets upped their target price on shares of United Natural Foods from $23.00 to $32.00 and gave the company a “market perform” rating in a research note on Wednesday, December 11th. Guggenheim reiterated a “neutral” rating on shares of United Natural Foods in a research note on Thursday, December 12th. Finally, Wells Fargo & Company increased their price objective on shares of United Natural Foods from $23.00 to $25.00 and gave the stock an “underweight” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, United Natural Foods currently has an average rating of “Hold” and a consensus price target of $26.40.

Hedge Funds Weigh In On United Natural Foods

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning boosted its holdings in shares of United Natural Foods by 7.6% during the 3rd quarter. Creative Planning now owns 13,506 shares of the company’s stock valued at $227,000 after purchasing an additional 953 shares during the last quarter. nVerses Capital LLC increased its stake in United Natural Foods by 85.7% in the 3rd quarter. nVerses Capital LLC now owns 3,900 shares of the company’s stock worth $66,000 after acquiring an additional 1,800 shares during the last quarter. Ballentine Partners LLC raised its holdings in shares of United Natural Foods by 18.6% during the 3rd quarter. Ballentine Partners LLC now owns 15,008 shares of the company’s stock worth $252,000 after acquiring an additional 2,350 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of United Natural Foods by 46.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 15,800 shares of the company’s stock valued at $266,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in United Natural Foods by 5.4% during the third quarter. Empowered Funds LLC now owns 194,772 shares of the company’s stock valued at $3,276,000 after purchasing an additional 9,916 shares during the last quarter. Institutional investors own 87.63% of the company’s stock.

United Natural Foods Stock Down 1.1 %

The company has a debt-to-equity ratio of 1.39, a current ratio of 1.48 and a quick ratio of 0.53. The stock’s fifty day moving average is $28.62 and its 200 day moving average is $21.92.

United Natural Foods (NYSE:UNFI) last posted its quarterly earnings data on Tuesday, December 10th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.18. The business had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.61 billion. United Natural Foods had a negative net margin of 0.30% and a positive return on equity of 1.27%. The business’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.04) earnings per share. On average, sell-side analysts forecast that United Natural Foods, Inc. will post 0.76 earnings per share for the current year.

About United Natural Foods

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.