United Natural Foods, Inc. to Post Q4 2022 Earnings of $1.22 Per Share, Seaport Res Ptn Forecasts (NYSE:UNFI)

United Natural Foods, Inc. (NYSE:UNFIGet Rating) – Equities researchers at Seaport Res Ptn boosted their Q4 2022 earnings estimates for shares of United Natural Foods in a research note issued to investors on Wednesday, June 8th. Seaport Res Ptn analyst E. Larson now anticipates that the company will post earnings per share of $1.22 for the quarter, up from their previous forecast of $1.05. Seaport Res Ptn currently has a “Neutral” rating on the stock. Seaport Res Ptn also issued estimates for United Natural Foods’ Q1 2023 earnings at $1.20 EPS, Q3 2023 earnings at $1.22 EPS and Q4 2023 earnings at $1.48 EPS.

United Natural Foods (NYSE:UNFIGet Rating) last posted its quarterly earnings data on Tuesday, June 7th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.13. The company had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $7.09 billion. United Natural Foods had a net margin of 0.83% and a return on equity of 18.64%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share.

UNFI has been the subject of a number of other reports. UBS Group reduced their price objective on shares of United Natural Foods from $64.00 to $58.00 and set a “buy” rating for the company in a research report on Thursday, March 10th. MKM Partners increased their target price on shares of United Natural Foods from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of United Natural Foods from $52.00 to $46.00 and set a “hold” rating for the company in a research report on Thursday, March 10th. Wells Fargo & Company upgraded shares of United Natural Foods from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $35.00 to $38.00 in a research report on Thursday, March 17th. Finally, BMO Capital Markets reduced their target price on shares of United Natural Foods from $50.00 to $45.00 and set a “market perform” rating for the company in a research report on Thursday, March 10th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.25.

NYSE:UNFI opened at $44.38 on Thursday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.55 and a current ratio of 1.49. The company has a fifty day moving average of $42.66 and a two-hundred day moving average of $43.46. The stock has a market capitalization of $2.59 billion, a PE ratio of 11.87 and a beta of 1.03. United Natural Foods has a fifty-two week low of $30.61 and a fifty-two week high of $57.89.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Whittier Trust Co. acquired a new position in shares of United Natural Foods in the 4th quarter valued at $34,000. Exchange Traded Concepts LLC acquired a new position in shares of United Natural Foods in the 4th quarter valued at $38,000. Macquarie Group Ltd. increased its holdings in shares of United Natural Foods by 280.3% in the 3rd quarter. Macquarie Group Ltd. now owns 905 shares of the company’s stock valued at $44,000 after acquiring an additional 667 shares during the period. Meeder Asset Management Inc. purchased a new position in United Natural Foods in the 1st quarter valued at $48,000. Finally, Lazard Asset Management LLC purchased a new position in United Natural Foods in the 4th quarter valued at $61,000. 81.28% of the stock is owned by institutional investors and hedge funds.

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

About United Natural Foods (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.

Further Reading

Earnings History and Estimates for United Natural Foods (NYSE:UNFI)

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