Wells Fargo Upgrades United Natural Foods (UNFI) to Hold

By Carrie Williams

United Natural Foods (UNFIResearch Report) received a Hold rating from Wells Fargo analyst Edward Kelly today. The company’s shares closed last Tuesday at $15.51, close to its 52-week high of $16.70.

According to TipRanks.com, Kelly is a 4-star analyst with an average return of 4.4% and a 65.0% success rate. Kelly covers the Consumer Goods sector, focusing on stocks such as Ollie’s Bargain Outlet Holding, Sprouts Farmers, and Dollar General.

Currently, the analyst consensus on United Natural Foods is a Hold with an average price target of $8.50, which is a -33.3% downside from current levels. In a report released yesterday, Oppenheimer also maintained a Hold rating on the stock.

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Based on United Natural Foods’ latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $6.14 billion and GAAP net loss of $30.71 million. In comparison, last year the company earned revenue of $6.15 billion and had a GAAP net loss of $342 million.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of UNFI in relation to earlier this year.

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United Natural Foods, Inc. engages in the distribution of natural, organic, and specialty foods and non-food products. It operates through the following segments: Wholesale and Other. The Wholesale segment distributes nutritional supplements, personal care items and organic products. The Others segment includes the sale other activities of the firm. It offers food and non food, frozen, perishables, bulk, body care products and supplements. The company was founded by Michael S. Funk in 1996 and is headquartered in Providence, RI.