United Natural Foods Inc. (NASDAQ:UNFI) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 4,090,150 shares, a growth of 30.9% from the August 31st total of 3,124,800 shares. Currently, 8.3% of the shares of the company are sold short. Based on an average trading volume of 1,057,513 shares, the days-to-cover ratio is currently 3.9 days.
Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in United Natural Foods by 117.5% in the second quarter. JPMorgan Chase & Co. now owns 2,553 shares of the company’s stock valued at $119,000 after buying an additional 1,379 shares during the period. Acrospire Investment Management LLC boosted its stake in United Natural Foods by 575.0% in the second quarter. Acrospire Investment Management LLC now owns 2,700 shares of the company’s stock valued at $126,000 after buying an additional 2,300 shares during the period. LS Investment Advisors LLC boosted its stake in United Natural Foods by 75.9% in the second quarter. LS Investment Advisors LLC now owns 3,062 shares of the company’s stock valued at $143,000 after buying an additional 1,321 shares during the period. Advisor Group Inc. purchased a new stake in United Natural Foods during the second quarter valued at approximately $149,000. Finally, AGF Investments Inc. boosted its stake in United Natural Foods by 4.4% in the second quarter. AGF Investments Inc. now owns 3,768 shares of the company’s stock valued at $176,000 after buying an additional 160 shares during the period. 97.91% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on UNFI shares. TheStreet downgraded United Natural Foods from a “buy” rating to a “hold” rating in a report on Thursday, September 8th. BMO Capital Markets set a $45.00 price objective on United Natural Foods and gave the stock a “hold” rating in a research note on Tuesday, September 13th. Zacks Investment Research upgraded United Natural Foods from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, June 8th. Piper Jaffray Cos. restated a “neutral” rating and set a $40.00 price objective (down from $45.00) on shares of United Natural Foods in a research note on Tuesday, August 16th. Finally, Royal Bank Of Canada upped their price objective on United Natural Foods from $33.00 to $34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 14th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. United Natural Foods has an average rating of “Hold” and an average target price of $44.36.
Shares of United Natural Foods (NASDAQ:UNFI) opened at 40.03 on Wednesday. United Natural Foods has a 52 week low of $29.75 and a 52 week high of $55.69. The company has a 50-day moving average price of $43.02 and a 200 day moving average price of $42.05. The stock has a market capitalization of $2.02 billion, a P/E ratio of 16.01 and a beta of 1.04.
United Natural Foods (NASDAQ:UNFI) last released its earnings results on Monday, September 12th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.07. The company earned $2.21 billion during the quarter. United Natural Foods had a return on equity of 8.85% and a net margin of 1.48%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.72 earnings per share. Analysts forecast that United Natural Foods will post $2.60 earnings per share for the current fiscal year.
United Natural Foods Company Profile
United Natural Foods, Inc is a distributor of natural, organic and specialty foods and non-food products in the United States and Canada. It offers products, in six product categories: grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and food service products and personal care items.
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