Research Analysts Set Expectations for United Natural Foods, Inc.’s Q3 2018 Earnings (UNFI)
United Natural Foods, Inc. (NASDAQ:UNFI) – Stock analysts at Jefferies Group upped their Q3 2018 earnings estimates for United Natural Foods in a research report issued on Friday. Jefferies Group analyst C. Mandeville now forecasts that the company will post earnings of $0.85 per share for the quarter, up from their prior forecast of $0.82. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for United Natural Foods’ Q4 2018 earnings at $0.80 EPS.
United Natural Foods (NASDAQ:UNFI) last released its quarterly earnings data on Thursday, December 7th. The company reported $0.60 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.60. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.39 billion. United Natural Foods had a net margin of 1.39% and a return on equity of 8.13%. During the same quarter in the prior year, the firm earned $0.58 EPS.
Shares of United Natural Foods (UNFI) opened at $49.75 on Monday. The company has a market cap of $2,507.45, a PE ratio of 19.06, a price-to-earnings-growth ratio of 3.65 and a beta of 1.46. The company has a quick ratio of 0.90, a current ratio of 2.36 and a debt-to-equity ratio of 0.22. United Natural Foods has a 1-year low of $29.53 and a 1-year high of $52.69.
Several large investors have recently bought and sold shares of the stock. Sei Investments Co. lifted its holdings in United Natural Foods by 47.2% during the 2nd quarter. Sei Investments Co. now owns 3,622 shares of the company’s stock worth $133,000 after buying an additional 1,162 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in United Natural Foods by 80.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,695 shares of the company’s stock worth $172,000 after buying an additional 2,095 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in United Natural Foods by 76.9% during the 2nd quarter. Flinton Capital Management LLC now owns 5,152 shares of the company’s stock worth $189,000 after buying an additional 2,240 shares in the last quarter. Balasa Dinverno & Foltz LLC acquired a new stake in United Natural Foods during the 3rd quarter worth approximately $208,000. Finally, Bell Bank acquired a new stake in United Natural Foods during the 3rd quarter worth approximately $210,000.
In related news, SVP Joseph J. Traficanti sold 5,800 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $43.25, for a total transaction of $250,850.00. Following the completion of the transaction, the senior vice president now owns 10,113 shares of the company’s stock, valued at approximately $437,387.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Paul Zechmeister sold 11,500 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $44.06, for a total transaction of $506,690.00. Following the transaction, the chief financial officer now directly owns 1,997 shares of the company’s stock, valued at approximately $87,987.82. The disclosure for this sale can be found here. Insiders have sold a total of 61,498 shares of company stock valued at $2,659,539 in the last ninety days. 1.40% of the stock is currently owned by corporate insiders.
United Natural Foods announced that its board has initiated a share buyback program on Friday, October 6th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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United Natural Foods Company Profile
United Natural Foods, Inc is a distributor and retailer of natural, organic and specialty products. The Company’s segments include Wholesale and Other. The Wholesale segment is engaged in the national distribution of natural, organic and specialty foods, produce and related products in the United States and Canada.
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