United Natural Foods, Inc. Shares Climb Up On Better Than Expected Earnings

United Natural Foods, Inc. (UNFI), a natural, organic, and specialty foods and non-food products company yesterday reported their fiscal fourth quarter 2017 financial results.

United reported adjusted fourth quarter earnings of $0.72 per share which beat analyst expectations of $0.69 per share. United reported adjusted fourth quarter revenues of $2.34 billion which fell short of analyst expectations of $2.37 billion.   

United Natural Foods, Inc. CEO’s  Comments

“Our performance in fiscal 2017 demonstrated our steadfast focus on serving our customers and managing our business in a challenging and deflationary operating environment,” said Steven L. Spinner, Chairman and Chief Executive Officer of UNFI. “We are optimistic about growth and the opportunities ahead of us, given the strength of our national supply chain as well as the breadth of our unique, better for you, fresh, organic and specialty product offerings.”  Business Wire

UNFI Technical Analysis

(Click on image to enlarge)

United Natural Foods

UNFI opened trading yesterday at $36.56 which was down from the previous day’s trading close of $36.57. UNFI closed trading yesterday at $37.21 and spiked up after market to $39.70, equivalent to a 7% increase from the closing price. Taking a look at the daily chart we can see the last time UNFI traded above these levels we have to go back to June 15th when it traded at  $39.75.

Taking a closer look at the daily chart we can see that before the spike up UNFI had been in an overall downward trend dating back to June 2nd when it traded at $41.86. UNFI has a float of 50.21 million shares and traded 1.86 times the normal daily trading volume on Wednesday.

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