United Natural Foods
Distributes broad grocery assortments and store services to U.S. and Canadian retailers.
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Profile
Sells natural, organic, specialty, fresh, and conventional groceries and non-food products to retailers across the United States and Canada, supplemented by private labels and store-support services. Wholesale distribution generates most sales and product margins primarily come from markups or fees over procurement costs, while Cub Foods and Shoppers provide a smaller retail channel.
Distributes natural, organic, specialty, fresh, conventional grocery and non-food products through Natural and Conventional wholesale segments across the United States and Canada. Retail adds Cub Foods and Shoppers grocery and liquor stores. Brands+ private labels widen the assortment, while professional, digital, and supplier services cover shelf management, pricing, data, marketing, and store technology.
Coordinates purchasing from thousands of suppliers, regional inventory, warehouse automation, and transportation across a coast-to-coast network, giving independent retailers and grocery chains broad assortments and store-support tools from one distributor. Product margins are typically earned through markups or fees above procurement cost.
A single Natural customer provides about one quarter of sales. Operations depend on principal-customer retention, unionized labor, food-safety and organic-handling compliance, and reliable ordering, warehouse, and transportation systems.
Company facts
Key statistics
Year to date +37.1% · Average volume (30d) 435.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jun 10, 2026 | Goldman Sachs | Target | $22 | $47 | ||
| Jun 10, 2026 | UBS | Reiterate | Neutral | $44 | $47 | |
| Jun 10, 2026 | BMO Capital | Target | $48 | $56 | ||
| Jun 10, 2026 | Roth Capital | Target | $35 | $43 | ||
| Mar 26, 2026 | Wells Fargo | Upgrade | Equal Weight | Overweight |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jun 9, 2026Q3 FY26 | $0.78 | $0.77 | −1.7% | $7.79B | $7.72B | −0.9% | +9.19% |
| Mar 10, 2026Q2 FY26 | $0.51 | $0.62 | +21.6% | $8.11B | $7.95B | −2.0% | +8.17% |
| Dec 2, 2025Q1 FY26 | $0.40 | $0.56 | +40.3% | $7.91B | $7.84B | −0.9% | −7.32% |
| Sep 30, 2025Q4 FY25 | −$0.27 | −$0.11 | +59.3% | $7.93B | $7.70B | −3.0% | +5.08% |
Financial highlights
| 12 quarters | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $8.16B | $8.06B | $7.70B | $7.84B | $7.95B | $7.72B | |
| Gross profit | $1.07B | $1.08B | $1.03B | $1.05B | $1.05B | $1.05B | |
| Operating income | $41.0M | $15.0M | −$78.0M | $74.0M | $95.0M | $95.0M | |
| Net income | −$3.0M | −$7.0M | −$87.0M | −$4.0M | $20.0M | $33.0M | |
| Diluted EPS | −$0.05 | −$0.12 | −$1.43 | −$0.07 | $0.32 | $0.53 | |
| Gross margin | 13.1% | 13.4% | 13.4% | 13.4% | 13.2% | 13.6% | |
| Operating margin | 0.5% | 0.2% | -1.0% | 0.9% | 1.2% | 1.2% |
Fiscal years (4-quarter sums)FY21 $26.92B · FY22 $28.93B · FY23 $30.27B · FY24 $30.98B · FY25 $31.78B
Revenue by product · Q3 FY26
Balance sheet, May 2, 2026Cash & short-term investments $43.0M · Total debt $3.15B · Total assets $7.19B · Shareholders' equity $1.60B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 60.52M · Float 59.55M · 98.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 10.46M | 17.28% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 4.47M | 7.38% | 13F | Aug 13, 2026 |
| American Century Companies Inc | 3.87M | 6.39% | 13F | Aug 12, 2026 |
| Dimensional Fund Advisors LP | 3.53M | 5.84% | 13F | Aug 11, 2026 |
| Vanguard Capital Management | 3.05M | 5.03% | 13G | Jul 31, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 23, 2026 | Mark Bushway | officer: President, Natural & CSCO | −10,000 | $51.56 |
| May 6, 2026 | Danielle Benedict | officer: Chief Human Resources Officer | −4,807 | $52.00 |
| Jan 2, 2026 | James C. Pappas | director | +15,000 | $33.76 |
| Jan 5, 2026 | James C. Pappas | director | +2,000 | $33.30 |
| Dec 22, 2025 | Louis Anthony Martin | officer: President, Conventional & CCO | −9,439 | $34.67 |
Peers
- Performance Food Group
Broad food and convenience distribution overlap
- Sysco
Large-scale food distribution and wholesale-channel overlap
- US Foods
Broadline distributor adjacent to conventional grocery supply
- Kroger
Grocery retail and self-distribution pressure
- Walmart
Omnichannel grocery scale and self-distribution pressure
- Albertsons Companies
Supermarket competition and self-distribution overlap
- AMCON Distributing Company
Regional convenience and grocery wholesale overlap
- The Chefs' Warehouse
Specialty and fresh food distribution overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| United Natural Foods | $45.80 | −0.04% | $2.77B | — | 14.6 | 0.1 | −4.2% |
| Performance Food Group | $100.85 | +0.03% | $15.84B | 44.0 | 17.9 | 0.2 | +6.4% |
| Sysco | $82.10 | +0.20% | $39.18B | 22.4 | 16.2 | 0.5 | +4.7% |
| US Foods | $107.27 | −0.03% | $23.62B | 33.0 | 20.6 | 0.6 | +4.5% |
| Kroger | $57.69 | −0.06% | $35.36B | 33.8 | 11.1 | 0.2 | +2.2% |
| Walmart | $103.07 | −0.03% | $820.40B | 37.2 | 34.5 | 1.1 | +5.9% |
| Albertsons Companies | $12.52 | −0.10% | $6.08B | 156.6 | 5.7 | 0.1 | +0.2% |
| AMCON Distributing Company | $67.99 | −5.57% | $70.3M | 51.1 | — | 0.0 | +12.9% |
| The Chefs' Warehouse | $115.00 | −0.04% | $4.69B | 54.8 | 41.7 | 1.1 | +12.9% |
| Median | 40.6 | 17.9 | 0.4 | +5.3% |