The Goldman Sachs Group Upgrades United Natural Foods (NYSE:UNFI) to Strong-Buy

The Goldman Sachs Group upgraded shares of United Natural Foods (NYSE:UNFI) from a hold rating to a strong-buy rating in a report published on Wednesday, Zacks.com reports.

A number of other equities analysts have also issued reports on the stock. BMO Capital Markets raised their target price on shares of United Natural Foods from $14.00 to $23.00 and gave the stock a market perform rating in a research report on Wednesday. StockNews.com raised shares of United Natural Foods from a sell rating to a hold rating in a research report on Thursday, June 13th. Roth Mkm upped their target price on shares of United Natural Foods from $13.00 to $14.00 and gave the company a neutral rating in a report on Thursday, June 6th. Finally, UBS Group increased their target price on shares of United Natural Foods from $16.00 to $21.00 and gave the stock a neutral rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, United Natural Foods presently has an average rating of Hold and a consensus price target of $16.60.

United Natural Foods Stock Performance

NYSE UNFI opened at $19.76 on Wednesday. The company has a fifty day moving average of $15.18 and a two-hundred day moving average of $12.94. The company has a market capitalization of $1.18 billion, a PE ratio of -8.20 and a beta of 0.63. United Natural Foods has a 1 year low of $8.58 and a 1 year high of $23.15. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 0.55.

United Natural Foods (NYSE:UNFI) last announced its earnings results on Tuesday, October 1st. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $7.94 billion. United Natural Foods had a positive return on equity of 0.54% and a negative net margin of 0.36%. The business’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.25) EPS. As a group, analysts expect that United Natural Foods will post 0.56 earnings per share for the current year.

Hedge Funds Weigh In On United Natural Foods

Institutional investors have recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in United Natural Foods during the 2nd quarter worth approximately $28,000. CWM LLC grew its holdings in United Natural Foods by 661.8% during the second quarter. CWM LLC now owns 3,314 shares of the company’s stock worth $43,000 after acquiring an additional 2,879 shares during the period. Public Employees Retirement System of Ohio purchased a new position in United Natural Foods in the first quarter worth $38,000. Allspring Global Investments Holdings LLC lifted its holdings in United Natural Foods by 317.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,634 shares of the company’s stock valued at $42,000 after acquiring an additional 2,763 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of United Natural Foods during the 1st quarter worth $42,000. 87.63% of the stock is owned by institutional investors and hedge funds.

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.