UNFI
mal auf dem Watch-Alarm:
2016 - 2020
...
The stock was crushed after United Natural Foods announced in July 2018 that it would acquire Supervalu, a larger food distributor. That deal was completed in November 2018.
“Investors hate the acquisition because conventional distribution is a cutthroat low-margin business,” he said. Before the acquisition, “United Natural Food was all about bring better options to consumers, bring better food choices.”
Not only did United Natural Foods do something unexpected for a rapidly growing distributor of organic food as it was gaining popularity, it has had difficulty integrating the acquisition, according to Lemonides. The company had $2.82 billion in long-term debt as of Dec. 31, and its market value was $368 million at the close on Feb. 25.
Lemonides estimates the company’s “franchise value” to be $3 billion. With about $600 million in annual cash flow, United Natural Foods can easily cover interest payments and reduce debt, he said. He believes management can return the company to resume its organic growth.
With his estimate that the company can ”easily” increase its annual earnings to $2 a share within the next two years, Lemonides said the stock might increase to a valuation of 20 times forward earnings, which would support a price of $40. The closing price on Feb. 25 was $6.87.
27.2.
https://www.marketwatch.com/story/your-defensive-stocks-migh…