United Natural Foods, Inc. (UNFI) Earns “Underweight” Rating from Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of United Natural Foods, Inc. (NASDAQ:UNFI) in a research report sent to investors on Monday. The brokerage currently has a $33.00 price objective on the stock, down from their previous price objective of $36.00.

Other analysts have also recently issued research reports about the stock. Guggenheim reiterated a buy rating and issued a $52.00 price target on shares of United Natural Foods in a research note on Saturday, March 11th. Citigroup Inc. reiterated a buy rating and issued a $49.00 price target (down previously from $54.00) on shares of United Natural Foods in a research note on Saturday, April 22nd. Loop Capital initiated coverage on shares of United Natural Foods in a research note on Monday, May 15th. They issued a buy rating and a $48.00 price target on the stock. Wells Fargo & Company reiterated a hold rating on shares of United Natural Foods in a research note on Wednesday, March 8th. Finally, Zacks Investment Research upgraded shares of United Natural Foods from a sell rating to a hold rating in a research note on Monday, April 24th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. United Natural Foods presently has an average rating of Hold and an average price target of $42.38.

United Natural Foods (UNFI) opened at 34.86 on Monday. United Natural Foods has a 1-year low of $29.53 and a 1-year high of $52.18. The company has a 50-day moving average price of $40.25 and a 200-day moving average price of $43.72. The company has a market cap of $1.76 billion, a PE ratio of 14.00 and a beta of 1.40.

United Natural Foods (NASDAQ:UNFI) last announced its quarterly earnings results on Tuesday, June 6th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. The business had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.42 billion. United Natural Foods had a net margin of 1.38% and a return on equity of 8.21%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.76 EPS. On average, analysts expect that United Natural Foods will post $2.55 EPS for the current fiscal year.

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A number of institutional investors have recently modified their holdings of UNFI. Russell Investments Group Ltd. purchased a new position in shares of United Natural Foods during the fourth quarter valued at approximately $9,298,000. Comerica Bank increased its position in shares of United Natural Foods by 2.4% in the fourth quarter. Comerica Bank now owns 61,456 shares of the company’s stock worth $2,914,000 after buying an additional 1,449 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of United Natural Foods by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,477 shares of the company’s stock worth $357,000 after buying an additional 25 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of United Natural Foods by 30.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,488,175 shares of the company’s stock worth $118,736,000 after buying an additional 584,991 shares in the last quarter. Finally, FMR LLC increased its position in shares of United Natural Foods by 10.1% in the fourth quarter. FMR LLC now owns 5,647,554 shares of the company’s stock worth $269,502,000 after buying an additional 517,680 shares in the last quarter. Institutional investors own 98.62% of the company’s stock.

United Natural Foods Company Profile

United Natural Foods, Inc is a distributor and retailer of natural, organic and specialty products. The Company’s segments include Wholesale and Other. The Wholesale segment is engaged in the national distribution of natural, organic and specialty foods, produce and related products in the United States and Canada.

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