Jefferies Financial Group Comments on United Natural Foods, Inc.’s Q3 2022 Earnings (NYSE:UNFI)

United Natural Foods, Inc. (NYSE:UNFI) – Stock analysts at Jefferies Financial Group decreased their Q3 2022 earnings per share estimates for shares of United Natural Foods in a research note issued on Thursday, June 10th. Jefferies Financial Group analyst M. Fishbein now forecasts that the company will earn $0.51 per share for the quarter, down from their prior estimate of $0.65. Jefferies Financial Group also issued estimates for United Natural Foods’ Q3 2023 earnings at $0.47 EPS.

UNFI has been the subject of several other research reports. Zacks Investment Research upgraded United Natural Foods from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Thursday, June 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on United Natural Foods from $20.00 to $33.00 and gave the company a “hold” rating in a research report on Thursday, March 11th. Seaport Global Securities assumed coverage on United Natural Foods in a research report on Friday, February 19th. They set a “neutral” rating for the company. TheStreet upgraded United Natural Foods from a “c” rating to a “b-” rating in a report on Thursday, March 11th. Finally, BMO Capital Markets boosted their price target on United Natural Foods from $20.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, March 11th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.89.

Shares of NYSE:UNFI opened at $34.71 on Friday. United Natural Foods has a 1 year low of $14.23 and a 1 year high of $42.40. The company’s 50 day simple moving average is $36.26. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 10.00 and a beta of 1.28. The company has a quick ratio of 0.62, a current ratio of 1.59 and a debt-to-equity ratio of 2.04.

United Natural Foods (NYSE:UNFI) last announced its earnings results on Tuesday, June 8th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.06. United Natural Foods had a return on equity of 20.33% and a net margin of 0.74%. The business had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the business earned $1.40 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year.

Hedge funds have recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of United Natural Foods during the first quarter worth $33,000. Abundance Wealth Counselors acquired a new position in shares of United Natural Foods during the first quarter worth $33,000. Eaton Vance Management acquired a new position in shares of United Natural Foods during the first quarter worth $41,000. Meeder Asset Management Inc. increased its position in shares of United Natural Foods by 5,580.8% during the first quarter. Meeder Asset Management Inc. now owns 1,477 shares of the company’s stock worth $48,000 after purchasing an additional 1,451 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in shares of United Natural Foods during the first quarter worth $71,000. 84.77% of the stock is currently owned by institutional investors and hedge funds.

In related news, CEO Steven Spinner sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $35.50, for a total value of $1,775,000.00. Following the completion of the transaction, the chief executive officer now owns 268,875 shares of the company’s stock, valued at $9,545,062.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Eric A. Dorne sold 10,757 shares of the business’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $40.00, for a total transaction of $430,280.00. Following the completion of the transaction, the chief operating officer now directly owns 14,008 shares of the company’s stock, valued at approximately $560,320. The disclosure for this sale can be found here. Insiders sold 269,423 shares of company stock valued at $10,234,213 in the last three months. 2.00% of the stock is currently owned by insiders.

About United Natural Foods

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: Economic Reports

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

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