Jun. 26 at 8:43 PM
United Natural Foods Inc. shares fell Friday after company President of Natural & CSCO Mark Bushway disclosed the sale of 10,000 shares worth approximately
$515,600, according to a Form 4 filing with the U.S. Securities and Exchange Commission.
Bushway sold the shares on Monday at a weighted average price of
$51.56 each, with transactions executed between
$51.52 and
$51.72 per share. Following the sale, he continues to own 51,119 shares of the food distributor. The transaction was executed under a power of attorney by Jody L. Hyvarinen.
While insider stock sales can sometimes weigh on investor sentiment because they may be viewed as signals about a company's outlook, executives frequently sell shares for personal financial planning or diversification rather than because of concerns about business performance. United Natural Foods is one of the largest distributors of natural, organic, specialty and conventional food products across the U.S. and Canada.
$UNFI