United Natural Foods Inc.’s recent filing reveals that its CEO DOUGLAS J ALEXANDER JR acquired the company’s shares for $1.0 million on March 24. As part of the transaction valued at $22.22 per share, 45,168 shares were purchased. Following this transaction, DOUGLAS J ALEXANDER JR now owns 150,936 shares worth approximately $2.84 million.
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Next, Howard John W sold 7,000 shares, generating total proceeds of $298,340. After selling the shares at $42.62, the CFO now owns 117,648 shares.
Before that, TESTA CHRISTOPHER P. sold 27,931 shares. Shares of United Natural Foods Inc. valued at $1,132,391 were sold by the president at a price of $40.54 per share. As a result of the transaction, TESTA CHRISTOPHER P. now owns 124,848 shares, worth approximately $2.35 million.
UBS lowered its rating on United Natural Foods Inc. (UNFI) from aa Buy to Neutral in a research note issued on Friday, March 13, 2023; the price target was reduced from $48 to $32. PT values the company’s shares at a premium of 41.25 to its Friday closing price.
UNFI Price Performance Review
On Friday, United Natural Foods Inc. (NYSE: UNFI) saw its stock jump 1.73% to $18.80. During the same session, the stock hit its lowest price of the day at $18.35, but reached a high of $18.93. Over the last five days, the stock has gained 2.17%. Shares of United Natural Foods Inc. have fallen nearly -51.43% year to date. Nonetheless, shares have fallen -56.18% over the past year. While a 52-week high of $47.88 was reached on 02/03/23, a 52-week low of $17.71 was recorded on 09/06/23. The 50-day SMA hit $20.06, while 200-day SMA put it at $29.13. A total of 1.86 million shares were traded, up from 0.5 million shares in the previous session.
Support and Resistance Levels for UNFI Stock
The 24-hour chart illustrates a support level at 18.46, which if violated will lead to further declines to 18.11. On the upside, there is a resistance level at 19.04. A new resistance level could be at 19.27. The Relative Strength Index (RSI) on the 14-day chart is at 42.98, indicating neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.56, which which suggests that the price will fall in the next trading period. The R percentage suggests that the price movement has been small, at 60.51%. The stochastic %K at 24.15% indicates that the stock is a holding.
How much is the short interest on United Natural Foods Inc.?
A sharp rise in short interest was recorded in United Natural Foods Inc. stock on August 30, 2023, falling by -0.2 million shares to a total of 2.85 million shares. Data from Yahoo Finance shows that short interest for the previous month as of July 30, 2023 was 3.05 million shares. There was a decline of -7.02%, implying negative sentiment towards the stock. Despite short shares representing only 6.72% of the overall float, the days to cover ratio (short ratio) fell to 7.
United Natural Foods Inc. (UNFI) – Who are the largest shareholders?
In BlackRock Fund Advisors filings, it is revealed that the company now owns 8,838,731 shares, or approximately 15.08% of UNFI shares outstanding. In other words, the investor’s shares fell -268,174 from its previous 13-F filing of 9106905.0. Additionally, The Vanguard Group, Inc. reduced its stake by 1.17%, after which the total value it holds stands at $141,200,556, while Dimensional Fund Advisors LP reduced its stake by 14.92 % of his stake to hold $76.25 million in the company. During the last quarter, SSgA Funds Management, Inc. sold -28,542 shares of United Natural Foods Inc., while Pacer Advisors, Inc. sold 2,113,118 shares. Currently, Invesco Capital Management LLC owns 1,838,593 shares valued at $37.01 Million. Kiltearn Partners LLP owned 1,744,001 shares of the company’s stock at the time of its latest 13F filing, worth $35.11 million.
According to FactSet, United Natural Foods Inc.’s stock price will average $22.75 over the next year, based on the opinions of analysts surveyed by the company. This represents an increase of almost 21.75% from its previous closing price of $18.48. Analysts expect United Natural Foods Inc. stock to reach the highest price of $27.00, while the lowest price estimate is $20.00. However, 14 analysts have rated UNFI stock as Hold in their 2023 forecasts.
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