United Natural Foods (NYSE:UNFI) Shares Gap Down – Here’s Why

United Natural Foods, Inc. (NYSE:UNFI)’s share price gapped down before the market opened on Monday . The stock had previously closed at $26.73, but opened at $26.16. United Natural Foods shares last traded at $26.15, with a volume of 27,890 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on UNFI shares. Guggenheim restated a “neutral” rating on shares of United Natural Foods in a research report on Thursday, December 12th. CL King upgraded United Natural Foods from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Wednesday, March 12th. Wells Fargo & Company raised their price objective on United Natural Foods from $23.00 to $25.00 and gave the company an “underweight” rating in a research report on Friday, January 10th. BMO Capital Markets raised their price objective on United Natural Foods from $23.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their price target on United Natural Foods from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, United Natural Foods has an average rating of “Hold” and a consensus target price of $27.50.

United Natural Foods Trading Down 1.3 %

The company has a market cap of $1.58 billion, a PE ratio of -16.65 and a beta of 0.56. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.48 and a quick ratio of 0.53. The company has a 50-day moving average of $29.49 and a 200 day moving average of $24.46.

United Natural Foods (NYSE:UNFI) last announced its earnings results on Tuesday, March 11th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.04. United Natural Foods had a positive return on equity of 1.27% and a negative net margin of 0.30%. The business had revenue of $8.16 billion during the quarter, compared to analyst estimates of $7.96 billion. During the same quarter in the previous year, the business earned $0.07 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that United Natural Foods, Inc. will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its position in shares of United Natural Foods by 66.5% during the fourth quarter. Versant Capital Management Inc now owns 931 shares of the company’s stock valued at $25,000 after buying an additional 372 shares during the period. Hazlett Burt & Watson Inc. purchased a new position in shares of United Natural Foods during the fourth quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd purchased a new position in shares of United Natural Foods during the fourth quarter valued at approximately $37,000. Aquatic Capital Management LLC purchased a new position in shares of United Natural Foods during the fourth quarter valued at approximately $47,000. Finally, Sterling Capital Management LLC raised its stake in shares of United Natural Foods by 796.2% during the fourth quarter. Sterling Capital Management LLC now owns 1,882 shares of the company’s stock valued at $51,000 after acquiring an additional 1,672 shares in the last quarter. Hedge funds and other institutional investors own 87.63% of the company’s stock.

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.