United Natural Foods (UNFI) Scheduled to Post Earnings on Wednesday

United Natural Foods logoUnited Natural Foods (NYSE:UNFI – Get Rating) is scheduled to issue its quarterly earnings data before the market opens on Wednesday, March 8th. Analysts expect the company to announce earnings of $1.38 per share for the quarter. United Natural Foods has set its FY 2023 guidance at $4.85-$5.15 EPS and its FY23 guidance at $4.85-5.15 EPS. Parties that wish to listen to the company’s conference call can do so using this link.

United Natural Foods (NYSE:UNFI – Get Rating) last announced its quarterly earnings results on Wednesday, December 7th. The company reported $1.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). United Natural Foods had a net margin of 0.81% and a return on equity of 16.02%. The company had revenue of $7.53 billion during the quarter, compared to analyst estimates of $7.54 billion. On average, analysts expect United Natural Foods to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

United Natural Foods Trading Down 0.1 %

Shares of NYSE:UNFI opened at $40.73 on Wednesday. United Natural Foods has a 12-month low of $32.90 and a 12-month high of $49.56. The company has a market capitalization of $2.44 billion, a PE ratio of 10.50 and a beta of 1.13. The business has a 50 day moving average of $40.67 and a two-hundred day moving average of $41.03. The company has a current ratio of 1.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.37.

Insider Buying and Selling at United Natural Foods

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In other United Natural Foods news, CAO Richard Eric Esper sold 5,250 shares of the company’s stock in a transaction 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 sale, 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 document filed with the SEC, which can be accessed via this link. In other news, insider Danielle Benedict sold 7,500 shares of the stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $40.06, for a total transaction of $300,450.00. Following the completion of the transaction, the insider now directly owns 70,255 shares in the company, valued at approximately $2,814,415.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Richard Eric Esper sold 5,250 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 30,303 shares of the company’s stock, valued at $1,151,514. The disclosure for this sale can be found here. Insiders sold a total of 47,681 shares of company stock worth $1,930,613 in the last three months. 1.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On United Natural Foods

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in United Natural Foods by 128.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,301 shares of the company’s stock valued at $128,000 after acquiring an additional 1,855 shares during the period. Zions Bancorporation NA boosted its holdings in United Natural Foods by 7.2% during the 1st quarter. Zions Bancorporation NA now owns 3,694 shares of the company’s stock valued at $153,000 after acquiring an additional 247 shares during the period. Point72 Hong Kong Ltd boosted its holdings in United Natural Foods by 115.1% during the 1st quarter. Point72 Hong Kong Ltd now owns 4,566 shares of the company’s stock valued at $189,000 after acquiring an additional 2,443 shares during the period. Ergoteles LLC purchased a new position in United Natural Foods during the 1st quarter valued at about $220,000. Finally, Cetera Advisor Networks LLC purchased a new position in United Natural Foods during the 4th quarter valued at about $209,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft upped their target price on United Natural Foods from $46.00 to $47.00 and gave the stock a “hold” rating in a research note on Tuesday, November 29th. UBS Group reduced their target price on United Natural Foods from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, January 6th. Finally, The Goldman Sachs Group upped their target price on United Natural Foods from $40.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 30th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, United Natural Foods currently has a consensus rating of “Hold” and an average target price of $47.17.

About United Natural Foods

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United Natural Foods, Inc. engages in the distribution of natural, organic, and specialty foods and non-food products. The firm operates through the following segments: Wholesale and Retail. The Wholesale segment is engaged in the national distribution of natural, organic, specialty, produce and conventional grocery and non-food products, and provides retail services in the United States and Canada.

Further Reading

Earnings History for United Natural Foods (NYSE:UNFI)

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