State of Alaska Department of Revenue Sells 3,685 Shares of United Natural Foods, Inc. (NYSE:UNFI)

State of Alaska Department of Revenue trimmed its holdings in United Natural Foods, Inc. (NYSE:UNFIGet Rating) by 8.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,391 shares of the company’s stock after selling 3,685 shares during the quarter. State of Alaska Department of Revenue’s holdings in United Natural Foods were worth $1,388,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of United Natural Foods by 28.3% in the third quarter. Allworth Financial LP now owns 1,334 shares of the company’s stock valued at $46,000 after buying an additional 294 shares during the last quarter. Castleview Partners LLC bought a new position in shares of United Natural Foods in the second quarter valued at about $403,000. UMB Bank n.a. bought a new position in shares of United Natural Foods in the second quarter valued at about $99,000. Zions Bancorporation N.A. raised its holdings in United Natural Foods by 7.2% during the 1st quarter. Zions Bancorporation N.A. now owns 3,694 shares of the company’s stock worth $153,000 after purchasing an additional 247 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its holdings in United Natural Foods by 228.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,775 shares of the company’s stock worth $149,000 after purchasing an additional 2,625 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

United Natural Foods Stock Performance

Shares of UNFI stock opened at $37.82 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.70 and a quick ratio of 0.63. The stock has a market cap of $2.26 billion, a PE ratio of 9.75 and a beta of 1.10. The stock has a 50-day moving average of $42.46 and a 200-day moving average of $42.01. United Natural Foods, Inc. has a one year low of $32.90 and a one year high of $49.56.

United Natural Foods declared that its Board of Directors has initiated a stock buyback plan on Tuesday, September 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity at United Natural Foods

In related news, CAO Richard Eric Esper sold 5,250 shares of the business’s stock in a transaction that occurred on Monday, December 19th. The stock was sold at an average price of $38.00, for a total value of $199,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 30,303 shares in the company, valued at approximately $1,151,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UNFI. Wells Fargo & Company dropped their price objective on United Natural Foods from $45.00 to $40.00 and set an “equal weight” rating for the company in a report on Wednesday, September 28th. MKM Partners dropped their price objective on United Natural Foods from $69.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, September 28th. StockNews.com began coverage on United Natural Foods in a report on Wednesday, October 12th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on United Natural Foods from $46.00 to $47.00 and gave the stock a “hold” rating in a report on Tuesday, November 29th. Finally, The Goldman Sachs Group upped their price target on United Natural Foods from $40.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, November 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $47.50.

About United Natural Foods

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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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Institutional Ownership by Quarter for United Natural Foods (NYSE:UNFI)

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