United Natural Foods (NYSE:UNFI) Announces Quarterly Earnings Results

United Natural Foods (NYSE:UNFIGet Rating) released its quarterly earnings results on Tuesday. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.13, RTT News reports. United Natural Foods had a return on equity of 18.64% and a net margin of 0.83%. The business had revenue of $7.24 billion during the quarter, compared to analyst estimates of $7.09 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. United Natural Foods’s revenue for the quarter was up 9.2% on a year-over-year basis. United Natural Foods updated its FY 2022 guidance to $4.65-$4.90 EPS and its FY22 guidance to $4.65-4.90 EPS.

Shares of UNFI stock opened at $44.91 on Tuesday. United Natural Foods has a 1 year low of $30.61 and a 1 year high of $57.89. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.49 and a quick ratio of 0.55. The stock’s 50 day simple moving average is $42.61 and its two-hundred day simple moving average is $43.45. The company has a market cap of $2.62 billion, a PE ratio of 12.01 and a beta of 1.03.

In other United Natural Foods news, CEO J Alexander Douglas, Jr. purchased 2,838 shares of United Natural Foods stock in a transaction dated Friday, March 11th. The shares were purchased at an average cost of $35.23 per share, for a total transaction of $99,982.74. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Richard Eric Esper sold 1,984 shares of the stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $42.59, for a total value of $84,498.56. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

A number of large investors have recently made changes to their positions in UNFI. Vanguard Group Inc. grew its stake in United Natural Foods by 8.6% in the first quarter. Vanguard Group Inc. now owns 7,135,789 shares of the company’s stock worth $295,064,000 after purchasing an additional 567,961 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in United Natural Foods by 81.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 676,358 shares of the company’s stock valued at $27,967,000 after acquiring an additional 303,984 shares in the last quarter. BlackRock Inc. boosted its position in United Natural Foods by 2.7% during the 1st quarter. BlackRock Inc. now owns 9,056,093 shares of the company’s stock valued at $374,471,000 after acquiring an additional 239,912 shares in the last quarter. Invesco Ltd. boosted its position in United Natural Foods by 25.5% during the 1st quarter. Invesco Ltd. now owns 1,107,412 shares of the company’s stock valued at $45,791,000 after acquiring an additional 224,791 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in United Natural Foods by 11.6% during the 1st quarter. Mackenzie Financial Corp now owns 1,719,643 shares of the company’s stock valued at $71,107,000 after acquiring an additional 178,233 shares in the last quarter. 81.28% of the stock is currently owned by institutional investors.

Several research firms have issued reports on UNFI. CL King started coverage on United Natural Foods in a report on Monday, March 21st. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft decreased their target price on United Natural Foods from $52.00 to $46.00 and set a “hold” rating on the stock in a research report on Thursday, March 10th. Zacks Investment Research downgraded United Natural Foods from a “strong-buy” rating to a “hold” rating and set a $41.00 target price on the stock. in a research report on Tuesday, February 8th. UBS Group decreased their target price on United Natural Foods from $64.00 to $58.00 and set a “buy” rating on the stock in a research report on Thursday, March 10th. Finally, Seaport Res Ptn reiterated a “neutral” rating on shares of United Natural Foods in a research report on Thursday, March 10th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $50.00.

United Natural Foods Company Profile (Get Rating)

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, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care items.

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Earnings History for United Natural Foods (NYSE:UNFI)

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