United Natural Foods (NYSE:UNFI) Stock Price Up 6.6% After Better-Than-Expected Earnings

United Natural Foods, Inc. (NYSE:UNFI)’s stock price traded up 6.6% during mid-day trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $26.32 and last traded at $26.19. 203,130 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 647,407 shares. The stock had previously closed at $24.57.

The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. United Natural Foods had a negative net margin of 0.30% and a positive return on equity of 1.27%. The company had revenue of $8.16 billion during the quarter, compared to analysts’ expectations of $7.96 billion. During the same period last year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

UNFI has been the topic of a number of analyst reports. CL King upgraded shares of United Natural Foods from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Wednesday. BMO Capital Markets lifted their price target on shares of 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. Wells Fargo & Company lifted their price target on shares of United Natural Foods from $23.00 to $25.00 and gave the stock an “underweight” rating in a research note on Friday, January 10th. Guggenheim reaffirmed a “neutral” rating on shares of United Natural Foods in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group lifted their price target on shares of United Natural Foods from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, United Natural Foods presently has a consensus rating of “Hold” and an average target price of $27.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of UNFI. Versant Capital Management Inc grew its position in United Natural Foods by 66.5% in the 4th quarter. Versant Capital Management Inc now owns 931 shares of the company’s stock worth $25,000 after purchasing an additional 372 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of United Natural Foods in the 4th quarter valued at approximately $27,000. Harvest Fund Management Co. Ltd acquired a new position in United Natural Foods in the 4th quarter valued at approximately $37,000. Aquatic Capital Management LLC acquired a new position in United Natural Foods in the 4th quarter valued at approximately $47,000. Finally, Sterling Capital Management LLC increased its stake in shares of United Natural Foods by 796.2% during the 4th quarter. Sterling Capital Management LLC now owns 1,882 shares of the company’s stock worth $51,000 after purchasing an additional 1,672 shares during the last quarter. Institutional investors own 87.63% of the company’s stock.

United Natural Foods Trading Up 11.9 %

The company’s 50 day moving average price is $29.63 and its 200 day moving average price is $24.05. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -17.51 and a beta of 0.56. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.53 and a current ratio of 1.48.

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.