Brokerages Anticipate United Natural Foods, Inc. (NYSE:UNFI) Will Post Quarterly Sales of $6.87 Billion

Equities analysts forecast that United Natural Foods, Inc. (NYSE:UNFI) will post sales of $6.87 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for United Natural Foods’ earnings. The highest sales estimate is $6.91 billion and the lowest is $6.83 billion. United Natural Foods reported sales of $6.75 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.8%. The firm is expected to issue its next earnings report on Monday, September 27th.

On average, analysts expect that United Natural Foods will report full year sales of $27.06 billion for the current year, with estimates ranging from $27.01 billion to $27.09 billion. For the next financial year, analysts expect that the firm will report sales of $27.36 billion, with estimates ranging from $26.95 billion to $28.12 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow United Natural Foods.

UNFI has been the subject of several research reports. Northcoast Research upgraded shares of United Natural Foods from a “neutral” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Friday, June 11th. Zacks Investment Research upgraded shares of United Natural Foods from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Thursday, June 3rd. BMO Capital Markets raised their price objective on shares of United Natural Foods from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Friday, June 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of United Natural Foods from $33.00 to $35.00 and gave the company a “hold” rating in a research note on Monday, June 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, United Natural Foods currently has an average rating of “Hold” and a consensus price target of $30.33.

UNFI traded up $0.65 during trading on Friday, hitting $37.00. 1,267 shares of the company’s stock were exchanged, compared to its average volume of 1,114,190. The company has a current ratio of 1.58, a quick ratio of 0.57 and a debt-to-equity ratio of 1.88. United Natural Foods has a 1 year low of $14.23 and a 1 year high of $42.40. The stock has a 50 day moving average price of $34.32 and a 200 day moving average price of $35.13. The firm has a market cap of $2.08 billion, a P/E ratio of 13.61 and a beta of 1.28.

In related news, Director Peter Roy sold 8,000 shares of United Natural Foods stock in a transaction on Monday, June 28th. The stock was sold at an average price of $36.60, for a total transaction of $292,800.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of United Natural Foods by 7.1% during the 1st quarter. BlackRock Inc. now owns 9,232,350 shares of the company’s stock worth $304,114,000 after purchasing an additional 610,906 shares during the period. Vanguard Group Inc. boosted its holdings in shares of United Natural Foods by 1.8% in the second quarter. Vanguard Group Inc. now owns 6,333,153 shares of the company’s stock valued at $234,200,000 after acquiring an additional 111,479 shares in the last quarter. State Street Corp lifted its stake in shares of United Natural Foods by 6.1% in the second quarter. State Street Corp now owns 1,939,897 shares of the company’s stock valued at $71,737,000 after purchasing an additional 110,796 shares during the period. Mackenzie Financial Corp raised its position in shares of United Natural Foods by 33.2% in the second quarter. Mackenzie Financial Corp now owns 1,688,234 shares of the company’s stock valued at $62,431,000 after buying an additional 420,440 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in United Natural Foods by 28.8% in the second quarter. Invesco Ltd. now owns 1,203,270 shares of the company’s stock valued at $44,497,000 after purchasing an additional 268,989 shares during the period.

About United Natural Foods

United Natural Foods, Inc engages in the distribution of natural, organic, and specialty foods and non-food products. The firm operates through the following segments: Wholesale and Retail. The Wholesale segment is engaged in the national distribution of natural, organic, specialty, produce, and conventional grocery and non-food products, and providing retail services in the United States and Canada.

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Earnings History and Estimates for United Natural Foods (NYSE:UNFI)

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