Traders Buy High Volume of United Natural Foods Put Options (NASDAQ:UNFI)

United Natural Foods Inc (NASDAQ:UNFI) was the target of unusually large options trading activity on Thursday. Stock investors purchased 9,774 put options on the stock. This is an increase of 1,582% compared to the typical daily volume of 581 put options.

UNFI opened at $6.92 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.74 and a debt-to-equity ratio of 1.77. The company’s fifty day moving average price is $9.06 and its two-hundred day moving average price is $11.68. United Natural Foods has a 1-year low of $6.75 and a 1-year high of $35.63. The company has a market cap of $372.88 million, a price-to-earnings ratio of 2.23, a PEG ratio of 0.82 and a beta of 2.15.

United Natural Foods (NASDAQ:UNFI) last released its quarterly earnings data on Wednesday, June 5th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.10. United Natural Foods had a net margin of 1.09% and a return on equity of 8.58%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same quarter in the prior year, the company posted $1.04 earnings per share. The business’s revenue was up 125.1% on a year-over-year basis. As a group, equities analysts forecast that United Natural Foods will post 1.73 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its position in United Natural Foods by 3.2% during the second quarter. BlackRock Inc. now owns 7,746,160 shares of the company’s stock worth $69,484,000 after purchasing an additional 240,001 shares during the period. Vanguard Group Inc. boosted its position in United Natural Foods by 10.1% during the second quarter. Vanguard Group Inc. now owns 5,548,900 shares of the company’s stock worth $49,774,000 after purchasing an additional 509,989 shares during the period. Bank of America Corp DE boosted its position in United Natural Foods by 247.3% during the second quarter. Bank of America Corp DE now owns 2,383,841 shares of the company’s stock worth $21,383,000 after purchasing an additional 1,697,419 shares during the period. Towle & Co. boosted its position in United Natural Foods by 27.9% during the second quarter. Towle & Co. now owns 2,000,497 shares of the company’s stock worth $17,944,000 after purchasing an additional 436,960 shares during the period. Finally, Invesco Ltd. boosted its position in United Natural Foods by 162.6% during the second quarter. Invesco Ltd. now owns 1,238,590 shares of the company’s stock worth $11,110,000 after purchasing an additional 766,843 shares during the period. Institutional investors own 98.17% of the company’s stock.

Several research analysts recently issued reports on UNFI shares. Pivotal Research reissued a “sell” rating and set a $6.00 target price (down from $8.00) on shares of United Natural Foods in a research note on Thursday, June 6th. Zacks Investment Research raised shares of United Natural Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. BidaskClub raised shares of United Natural Foods from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Loop Capital cut their target price on shares of United Natural Foods to $21.00 and set a “buy” rating on the stock in a research note on Thursday, June 6th. Finally, BMO Capital Markets lowered shares of United Natural Foods from a “market perform” rating to an “underperform” rating and cut their target price for the stock from $10.00 to $5.00 in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $18.59.

About United Natural Foods

United Natural Foods, Inc, together with its subsidiaries, distributes natural, organic, and specialty foods and non-food products in the United States and Canada. The company operates through three divisions: Wholesale, Retail, and Manufacturing and Branded Products. The Wholesale division offers grocery and general merchandise, produce, perishables and frozen foods, nutritional supplements and sports nutrition, bulk and foodservice products, and personal care products.

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