United Natural Foods (NYSE:UNFI) Shares Down 10.5%

United Natural Foods Inc (NYSE:UNFI) shares dropped 10.5% on Friday . The stock traded as low as $8.35 and last traded at $8.36, approximately 2,417,700 shares traded hands during trading. An increase of 91% from the average daily volume of 1,267,479 shares. The stock had previously closed at $9.34.

UNFI has been the subject of several recent research reports. Pivotal Research decreased their target price on shares of United Natural Foods from $6.00 to $3.00 and set a “sell” rating for the company in a research note on Thursday, October 3rd. BidaskClub upgraded shares of United Natural Foods from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 20th. Wells Fargo & Co downgraded shares of United Natural Foods from an “equal weight” rating to an “underweight” rating and set a $6.00 target price for the company. in a research note on Friday. ValuEngine downgraded shares of United Natural Foods from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Buckingham Research decreased their target price on shares of United Natural Foods from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $10.57.

The company has a debt-to-equity ratio of 3.62, a current ratio of 1.69 and a quick ratio of 0.67. The stock has a market cap of $467.13 million, a price-to-earnings ratio of 4.02, a P/E/G ratio of 0.77 and a beta of 2.14. The stock’s 50-day moving average is $8.63 and its 200 day moving average is $8.79.

United Natural Foods (NYSE:UNFI) last announced its quarterly earnings data on Wednesday, December 11th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.11). The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.80 billion. United Natural Foods had a negative net margin of 2.65% and a positive return on equity of 5.89%. United Natural Foods’s revenue for the quarter was up 109.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.59 EPS. Analysts anticipate that United Natural Foods Inc will post 1.25 EPS for the current year.

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its holdings in United Natural Foods by 4,283.3% in the second quarter. Renaissance Technologies LLC now owns 574,212 shares of the company’s stock valued at $5,151,000 after buying an additional 561,112 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of United Natural Foods by 6.4% during the 3rd quarter. California Public Employees Retirement System now owns 108,100 shares of the company’s stock worth $1,245,000 after purchasing an additional 6,533 shares in the last quarter. Rhumbline Advisers increased its stake in shares of United Natural Foods by 7.3% during the 3rd quarter. Rhumbline Advisers now owns 170,692 shares of the company’s stock worth $1,966,000 after purchasing an additional 11,659 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in shares of United Natural Foods during the 3rd quarter worth approximately $4,314,000. Finally, Squarepoint Ops LLC increased its stake in shares of United Natural Foods by 6.1% during the 3rd quarter. Squarepoint Ops LLC now owns 77,665 shares of the company’s stock worth $895,000 after purchasing an additional 4,481 shares in the last quarter. 91.99% of the stock is owned by institutional investors.

About United Natural Foods (NYSE:UNFI)

United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. The Wholesale division offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care products.

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