Truist Financial Corp Cuts Stock Holdings in United Natural Foods, Inc. (NYSE:UNFI)

Truist Financial Corp trimmed its position in shares of United Natural Foods, Inc. (NYSE:UNFIGet Rating) by 13.0% during the third quarter, Holdings Channel.com reports. The fund owned 33,620 shares of the company’s stock after selling 5,003 shares during the quarter. Truist Financial Corp’s holdings in United Natural Foods were worth $1,155,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Ronald Blue Trust Inc. boosted its holdings in shares of United Natural Foods by 307.9% in the 3rd quarter. Ronald Blue Trust Inc. now owns 771 shares of the company’s stock worth $30,000 after buying an additional 582 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of United Natural Foods by 28.3% in the 3rd quarter. Allworth Financial LP now owns 1,334 shares of the company’s stock worth $46,000 after buying an additional 294 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of United Natural Foods in the 3rd quarter worth about $54,000. UMB Bank n.a. purchased a new position in shares of United Natural Foods in the 2nd quarter worth about $99,000. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in shares of United Natural Foods by 228.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,775 shares of the company’s stock worth $149,000 after buying an additional 2,625 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at United Natural Foods

In other news, CAO Richard Eric Esper sold 5,250 shares of the business’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $38.00, for a total transaction of $199,500.00. Following the completion of the transaction, the chief accounting officer now owns 30,303 shares of the company’s stock, valued at $1,151,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.

United Natural Foods Trading Down 2.0 %

Shares of UNFI opened at $38.77 on Friday. The business’s 50-day moving average price is $41.86 and its 200-day moving average price is $41.80. United Natural Foods, Inc. has a twelve month low of $32.90 and a twelve month high of $49.56. The stock has a market cap of $2.32 billion, a PE ratio of 9.99 and a beta of 1.10. The company has a quick ratio of 0.63, a current ratio of 1.70 and a debt-to-equity ratio of 1.37.

United Natural Foods declared that its Board of Directors has approved a stock buyback program on Tuesday, September 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to reacquire up to 9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

UNFI has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on United Natural Foods from $46.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, November 29th. MKM Partners lowered their price objective on United Natural Foods from $69.00 to $63.00 and set a “buy” rating on the stock in a research note on Wednesday, September 28th. Wells Fargo & Company lowered their price objective on United Natural Foods from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 28th. StockNews.com initiated coverage on United Natural Foods in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group boosted their price objective 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 research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $47.17.

United Natural Foods Company Profile

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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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