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Baron Funds Comments on United Natural Foods Inc.
Posted by: Holly LaFon (IP Logged)
Date: May 1, 2013 03:03PM
United Natural Foods, Inc. (UNFI) is the largest distributor of natural and organic products in North America. The Fund established a position in the shares during the quarter at levels nearly 15% below their peak levels reached in late 2012. The shares then fell further, despite a quarterly report that we considered encouraging.We believe the company will continue to benefit from positive secular trends in the organic food sector, including Americans' greater focus on their health, organic food increasing its share of consumers' overall grocery spend, and conventional supermarkets devoting more shelf space to the organic category.
From Baron Funds’ first quarter 2013 letter.
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