United Natural Foods (NYSE:UNFI) Sets New 52-Week High - Here's Why

United Natural Foods, Inc. (NYSE:UNFI - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $23.50 and last traded at $22.91, with a volume of 274170 shares trading hands. The stock had previously closed at $21.66.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group upped their price target on shares of United Natural Foods from $16.00 to $21.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Northcoast Research raised shares of United Natural Foods from a "neutral" rating to a "buy" rating in a research note on Friday, October 11th. BMO Capital Markets boosted their price objective on shares of United Natural Foods from $14.00 to $23.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of United Natural Foods from $15.00 to $22.00 and gave the stock a "neutral" rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $18.40.

United Natural Foods Stock Performance

The company has a quick ratio of 0.52, a current ratio of 1.44 and a debt-to-equity ratio of 1.28. The stock's fifty day simple moving average is $19.13 and its two-hundred day simple moving average is $15.18.

United Natural Foods (NYSE:UNFI - Get Free Report) last released its quarterly earnings results on Tuesday, October 1st. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. The business had revenue of $8.16 billion for the quarter, compared to the consensus estimate of $7.94 billion. United Natural Foods had a negative net margin of 0.36% and a positive return on equity of 0.54%. The company's quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned ($0.25) earnings per share. As a group, equities analysts predict that United Natural Foods, Inc. will post 0.64 earnings per share for the current year.

Insider Activity

In other United Natural Foods news, insider Danielle Benedict sold 9,050 shares of United Natural Foods stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $22.10, for a total transaction of $200,005.00. Following the completion of the sale, the insider now directly owns 88,218 shares in the company, valued at approximately $1,949,617.80. The trade was a 9.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On United Natural Foods

Large investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new stake in shares of United Natural Foods during the second quarter worth about $28,000. Public Employees Retirement System of Ohio acquired a new position in United Natural Foods in the 1st quarter valued at about $38,000. Allspring Global Investments Holdings LLC grew its holdings in United Natural Foods by 317.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,634 shares of the company's stock valued at $42,000 after buying an additional 2,763 shares during the period. CWM LLC grew its holdings in shares of United Natural Foods by 661.8% during the 2nd quarter. CWM LLC now owns 3,314 shares of the company's stock worth $43,000 after purchasing an additional 2,879 shares during the period. Finally, EMC Capital Management lifted its position in United Natural Foods by 39.6% during the 1st quarter. EMC Capital Management now owns 6,430 shares of the company's stock worth $74,000 after acquiring an additional 1,824 shares in the last quarter. 87.63% of the stock is currently owned by institutional investors and hedge funds.

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.