United Natural Foods (NYSE:UNFI) Hits New 12-Month High on Analyst Upgrade

United Natural Foods, Inc. (NYSE:UNFI - Get Free Report)'s share price hit a new 52-week high on Thursday after The Goldman Sachs Group raised their price target on the stock from $25.00 to $28.00. The Goldman Sachs Group currently has a neutral rating on the stock. United Natural Foods traded as high as $32.56 and last traded at $33.12, with a volume of 62591 shares trading hands. The stock had previously closed at $31.97.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company boosted their target price on shares of United Natural Foods from $23.00 to $25.00 and gave the company an "underweight" rating in a report on Friday, January 10th. Guggenheim reissued a "neutral" rating on shares of United Natural Foods in a research report on Thursday, December 12th. BMO Capital Markets boosted their target price on United Natural Foods from $23.00 to $32.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 11th. Finally, Roth Mkm raised their price objective on shares of United Natural Foods from $20.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, United Natural Foods presently has an average rating of "Hold" and an average target price of $26.40.

Hedge Funds Weigh In On United Natural Foods

Hedge funds have recently modified their holdings of the business. State Street Corp raised its stake in United Natural Foods by 1.5% during the 3rd quarter. State Street Corp now owns 2,383,733 shares of the company's stock valued at $40,094,000 after acquiring an additional 34,522 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new stake in United Natural Foods in the 3rd quarter valued at about $595,000. JPMorgan Chase & Co. increased its stake in shares of United Natural Foods by 118.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 177,937 shares of the company's stock worth $2,993,000 after purchasing an additional 96,341 shares in the last quarter. Brighton Jones LLC purchased a new stake in shares of United Natural Foods in the fourth quarter valued at $656,000. Finally, Adero Partners LLC purchased a new stake in United Natural Foods in the 4th quarter worth approximately $243,000. 87.63% of the stock is currently owned by hedge funds and other institutional investors.

United Natural Foods Price Performance

The company has a 50-day moving average of $28.62 and a two-hundred day moving average of $22.01. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.48 and a quick ratio of 0.53. The stock has a market capitalization of $2.04 billion, a PE ratio of -21.64 and a beta of 0.62.

United Natural Foods (NYSE:UNFI - Get Free Report) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.18. United Natural Foods had a positive return on equity of 1.27% and a negative net margin of 0.30%. The company had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.61 billion. During the same period in the prior year, the firm posted ($0.04) earnings per share. The firm's revenue was up 4.6% on a year-over-year basis. Sell-side analysts predict that United Natural Foods, Inc. will post 0.76 EPS for the current fiscal year.

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.