United Natural Foods (NYSE:UNFI) Shares Down 3.6% After Insider Selling
United Natural Foods (NYSE:UNFI) shares fell 3.6% after insider Danielle Benedict sold 9,050 shares at $10 each. The stock traded as low as $7.70, with a significant drop in trading volume. Analysts have mixed ratings on the stock, with a consensus hold rating and a price target of $10.40. The company reported a positive EPS of $0.01, exceeding estimates, and a 10% revenue increase year-over-year. Institutional investors hold 87.63% of the stock, indicating strong interest in the company.
United Natural Foods, Inc. (NYSE:UNFI - Get Free Report)'s share price fell 3.6% during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $20.70 and last traded at $20.76. 48,807 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 697,873 shares. The stock had previously closed at $21.53.
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Specifically, insider Danielle Benedict sold 9,050 shares of the stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $22.10, for a total transaction of $200,005.00. Following the completion of the sale, the insider now owns 88,218 shares of the company's stock, valued at approximately $1,949,617.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Analysts Set New Price Targets
UNFI has been the subject of several research analyst reports. BMO Capital Markets increased their price objective on United Natural Foods from $14.00 to $23.00 and gave the stock a "market perform" rating in a report on Wednesday, October 2nd. UBS Group boosted their price target on shares of United Natural Foods from $16.00 to $21.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Northcoast Research upgraded shares of United Natural Foods from a "neutral" rating to a "buy" rating in a report on Friday, October 11th. Finally, The Goldman Sachs Group upped their target price on United Natural Foods from $15.00 to $22.00 and gave the stock a "neutral" rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, United Natural Foods presently has an average rating of "Hold" and a consensus price target of $18.40.
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View Our Latest Stock Report on UNFI
United Natural Foods Trading Down 3.7 %
The stock has a market cap of $1.23 billion, a PE ratio of -11.39 and a beta of 0.63. The stock's fifty day moving average price is $16.47 and its 200 day moving average price is $13.58. The company has a quick ratio of 0.52, a current ratio of 1.44 and a debt-to-equity ratio of 1.28.
- The Turnaround in United Natural Foods is Ripening
United Natural Foods (NYSE:UNFI - Get Free Report) last posted its earnings results on Tuesday, October 1st. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.09. The business had revenue of $8.16 billion during the quarter, compared to analyst estimates 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 company's quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.25) EPS. On average, sell-side analysts forecast that United Natural Foods, Inc. will post 0.64 EPS for the current year.
Institutional Investors Weigh In On United Natural Foods
Several hedge funds and other institutional investors have recently made changes to their positions in UNFI. nVerses Capital LLC bought a new stake in shares of United Natural Foods during the 2nd quarter valued at $28,000. CWM LLC raised its stake in shares of United Natural Foods by 661.8% in the second quarter. CWM LLC now owns 3,314 shares of the company's stock worth $43,000 after buying an additional 2,879 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of United Natural Foods during the 1st quarter valued at about $38,000. Allspring Global Investments Holdings LLC grew its stake in shares of United Natural Foods by 317.2% during the 1st 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 United Natural Foods in the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 87.63% of the company's stock.
About United Natural Foods
(Get Free Report)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.
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