United Natural Foods (NYSE:UNFI) Releases Quarterly Earnings Results, Meets Estimates

United Natural Foods (NYSE:UNFI - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10, Briefing.com reports. The business had revenue of $7.50 billion during the quarter, compared to analysts' expectations of $7.51 billion. United Natural Foods had a positive return on equity of 1.20% and a negative net margin of 0.38%. The company's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. United Natural Foods updated its FY 2024 guidance to -0.200-0.200 EPS and its FY24 guidance to ($0.20)-$0.20 EPS.

United Natural Foods Price Performance

NYSE:UNFI traded up $2.11 during trading hours on Thursday, hitting $15.51. 1,753,048 shares of the stock were exchanged, compared to its average volume of 705,923. United Natural Foods has a 52-week low of $8.58 and a 52-week high of $23.66. The firm's fifty day moving average price is $10.55 and its 200 day moving average price is $13.42. The company has a current ratio of 1.53, a quick ratio of 0.54 and a debt-to-equity ratio of 1.29. The company has a market cap of $921.87 million, a P/E ratio of -7.95 and a beta of 0.61.

Analyst Ratings Changes

Several equities analysts have recently issued reports on UNFI shares. UBS Group boosted their price objective on United Natural Foods from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday. Wells Fargo & Company cut their price target on United Natural Foods from $15.00 to $12.00 and set an "underweight" rating for the company in a research note on Thursday, March 7th. StockNews.com lowered United Natural Foods from a "hold" rating to a "sell" rating in a research note on Thursday, March 14th. Finally, Roth Mkm lifted their price target on United Natural Foods from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $13.60.

Insiders Place Their Bets

In other news, CAO Richard Eric Esper sold 4,375 shares of the company's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $11.35, for a total value of $49,656.25. Following the completion of the sale, the chief accounting officer now directly owns 32,865 shares in the company, valued at $373,017.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by company 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, wellness and personal care items, and bulk and foodservice products.