United Natural Foods (NYSE:UNFI) Updates FY 2022 Earnings Guidance

United Natural Foods (NYSE:UNFIGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.65-$4.90 for the period, compared to the consensus estimate of $4.16. The company issued revenue guidance of $28.80 billion-$29.10 billion, compared to the consensus revenue estimate of $28.66 billion.

United Natural Foods stock opened at $39.69 on Tuesday. The business’s 50-day simple moving average is $41.43 and its 200 day simple moving average is $42.02. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 10.61 and a beta of 1.03. United Natural Foods has a 12-month low of $30.61 and a 12-month high of $57.89. The company has a quick ratio of 0.55, a current ratio of 1.49 and a debt-to-equity ratio of 1.52.

United Natural Foods (NYSE:UNFIGet Rating) last posted its quarterly earnings results on Tuesday, June 7th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.13. The business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $7.09 billion. United Natural Foods had a return on equity of 18.64% and a net margin of 0.83%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. As a group, sell-side analysts expect that United Natural Foods will post 4.22 EPS for the current year.

UNFI has been the topic of several recent research reports. Wells Fargo & Company upgraded United Natural Foods from an underweight rating to an equal weight rating and raised their price target for the company from $35.00 to $38.00 in a report on Thursday, March 17th. BMO Capital Markets reduced their target price on United Natural Foods from $50.00 to $45.00 and set a market perform rating on the stock in a report on Thursday, March 10th. Seaport Res Ptn restated a neutral rating on shares of United Natural Foods in a report on Thursday, March 10th. Deutsche Bank Aktiengesellschaft raised their target price on United Natural Foods from $46.00 to $53.00 and gave the stock a hold rating in a report on Wednesday, June 29th. Finally, CL King initiated coverage on United Natural Foods in a report on Monday, March 21st. They set a buy rating on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, United Natural Foods has an average rating of Hold and an average price target of $52.57.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of United Natural Foods by 2.7% during the 1st quarter. BlackRock Inc. now owns 9,056,093 shares of the company’s stock valued at $374,471,000 after purchasing an additional 239,912 shares in the last quarter. Vanguard Group Inc. raised its position in United Natural Foods by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 7,135,789 shares of the company’s stock valued at $295,064,000 after buying an additional 567,961 shares during the last quarter. State Street Corp raised its position in United Natural Foods by 5.6% in the 1st quarter. State Street Corp now owns 1,953,532 shares of the company’s stock valued at $80,779,000 after buying an additional 103,278 shares during the last quarter. Mackenzie Financial Corp raised its position in United Natural Foods by 11.6% in the 1st quarter. Mackenzie Financial Corp now owns 1,719,643 shares of the company’s stock valued at $71,107,000 after buying an additional 178,233 shares during the last quarter. Finally, Invesco Ltd. raised its position in United Natural Foods by 25.5% in the 1st quarter. Invesco Ltd. now owns 1,107,412 shares of the company’s stock valued at $45,791,000 after buying an additional 224,791 shares during the last quarter. Institutional investors and hedge funds own 81.28% of the company’s stock.

About United Natural Foods (Get Rating)

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.

See Also

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

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