Geode Capital Management LLC Boosts Stake in United Natural Foods, Inc. (NYSE:UNFI)

Geode Capital Management LLC increased its position in United Natural Foods, Inc. (NYSE:UNFI) by 1.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,358,340 shares of the company’s stock after purchasing an additional 14,928 shares during the period. Geode Capital Management LLC owned 2.27% of United Natural Foods worth $22,852,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp increased its position in United Natural Foods by 1.5% in the 3rd quarter. State Street Corp now owns 2,383,733 shares of the company’s stock valued at $40,094,000 after acquiring an additional 34,522 shares during the period. Point72 Asset Management L.P. acquired a new position in United Natural Foods in the 3rd quarter valued at about $364,000. Hauser Brothers GmbH increased its position in United Natural Foods by 0.6% in the 3rd quarter. Hauser Brothers GmbH now owns 912,034 shares of the company’s stock valued at $15,340,000 after acquiring an additional 5,000 shares during the period. Point72 Hong Kong Ltd acquired a new position in United Natural Foods in the 3rd quarter valued at about $196,000. Finally, Erste Asset Management GmbH acquired a new position in United Natural Foods in the 3rd quarter valued at about $354,000. 87.63% of the stock is owned by hedge funds and other institutional investors.

United Natural Foods Trading Down 1.3 %

UNFI stock opened at $26.91 on Friday. United Natural Foods, Inc. has a 52 week low of $8.58 and a 52 week high of $32.20. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -17.14 and a beta of 0.64. The company has a quick ratio of 0.52, a current ratio of 1.48 and a debt-to-equity ratio of 1.39. The business has a fifty day simple moving average of $23.68 and a 200-day simple moving average of $18.08.

United Natural Foods (NYSE:UNFI) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.18. United Natural Foods had a positive return on equity of 1.27% and a negative net margin of 0.30%. The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.61 billion. During the same period in the prior year, the firm earned ($0.04) EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. On average, equities research analysts expect that United Natural Foods, Inc. will post 0.72 EPS for the current year.

Insider Activity

In other news, insider Danielle Benedict sold 15,152 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $19.78, for a total transaction of $299,706.56. Following the transaction, the insider now owns 100,423 shares of the company’s stock, valued at approximately $1,986,366.94. This trade represents a 13.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.

Analysts Set New Price Targets

UNFI has been the topic of several recent analyst reports. UBS Group boosted their target price on United Natural Foods from $16.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Roth Mkm boosted their price target on United Natural Foods from $20.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. BMO Capital Markets boosted their price target on United Natural Foods from $23.00 to $32.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 11th. Northcoast Research raised United Natural Foods from a “neutral” rating to a “buy” rating in a research note on Friday, October 11th. Finally, The Goldman Sachs Group boosted their price target on United Natural Foods from $15.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.60.

About United Natural Foods

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.