Sciencast Management LP Buys New Position in United Natural Foods Inc (NYSE:UNFI)

Sciencast Management LP bought a new position in United Natural Foods Inc (NYSE:UNFI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,798 shares of the company’s stock, valued at approximately $509,000.

A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its holdings in shares of United Natural Foods by 6.2% during the first quarter. State Street Corp now owns 1,811,488 shares of the company’s stock valued at $16,629,000 after purchasing an additional 105,686 shares during the period. Invesco Ltd. raised its stake in United Natural Foods by 11.1% during the 1st quarter. Invesco Ltd. now owns 1,727,171 shares of the company’s stock worth $15,856,000 after buying an additional 172,506 shares during the period. Geode Capital Management LLC boosted its holdings in United Natural Foods by 7.7% in the first quarter. Geode Capital Management LLC now owns 739,634 shares of the company’s stock worth $6,789,000 after acquiring an additional 52,609 shares in the last quarter. Nuveen Asset Management LLC grew its stake in United Natural Foods by 12.9% in the fourth quarter. Nuveen Asset Management LLC now owns 609,910 shares of the company’s stock valued at $5,342,000 after acquiring an additional 69,825 shares during the period. Finally, Prentice Capital Management LP acquired a new stake in United Natural Foods in the first quarter valued at approximately $4,319,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

Several research firms recently issued reports on UNFI. Cfra lifted their price target on shares of United Natural Foods from $8.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, May 13th. Oppenheimer began coverage on United Natural Foods in a report on Tuesday, June 16th. They set a “hold” rating for the company. Deutsche Bank increased their price target on United Natural Foods from $7.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, June 15th. Wells Fargo & Co upgraded United Natural Foods from an “underweight” rating to an “equal weight” rating and set a $16.00 price objective on the stock in a research note on Wednesday, May 13th. Finally, MKM Partners initiated coverage on shares of United Natural Foods in a research note on Wednesday. They issued a “buy” rating and a $26.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $15.95.

UNFI opened at $19.85 on Friday. United Natural Foods Inc has a fifty-two week low of $5.00 and a fifty-two week high of $23.38. The firm has a 50-day moving average of $18.36 and a 200 day moving average of $12.72. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.69 and a current ratio of 1.50. The firm has a market cap of $1.06 billion, a P/E ratio of 8.71 and a beta of 1.39.

United Natural Foods (NYSE:UNFI) last released its earnings results on Wednesday, June 10th. The company reported $1.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.41 by ($0.01). The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.67 billion. United Natural Foods had a negative net margin of 1.22% and a positive return on equity of 9.88%. During the same period in the prior year, the company earned $0.61 earnings per share. Equities research analysts predict that United Natural Foods Inc will post 2.4 earnings per share for the current fiscal year.

United Natural Foods Company Profile

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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Institutional Ownership by Quarter for United Natural Foods (NYSE:UNFI)

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