UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on United Natural Foods Following F3Q13 EPS Report

In a report published Wednesday, Goldman Sachs analyst Stephen Grambling reiterated a Neutral rating on

, and raised the price target from $51.00 to $55.00. In the report, Goldman Sachs noted, “UNFI reported F3Q13 (ending April'13) EPS of $0.64, $0.01 below our estimate but in line with consensus. Better than expected sales growth, led by the supernatural channel, was offset by slightly greater gross margin pressure and less SG&A flow-through, relative to our estimates. Management upwardly revised its FY13 sales guidance as momentum continued into 4Q. However, the top end of its adjusted FY13 EPS guidance range was lowered to $2.15-$2.17 from its prior $2.15-$2.21 to account for greater than expected labor dispute charges in 3Q and incremental non-cash rent payments associated with new facilities in 4Q.” United Natural Foods closed on Tuesday at $55.64.