Whole Foods Market, Inc. (WFM) Lowered to “Hold” at SunTrust Banks, Inc.

Whole Foods Market, Inc. (NASDAQ:WFM) was downgraded by stock analysts at SunTrust Banks, Inc. from a “buy” rating to a “hold” rating in a report issued on Tuesday. They presently have a $42.00 price objective on the stock, up from their prior price objective of $40.00. SunTrust Banks, Inc.’s target price suggests a potential downside of 2.82% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Vetr upgraded Whole Foods Market from a “strong sell” rating to a “hold” rating and set a $42.27 price target for the company in a research note on Monday. Pivotal Research upgraded Whole Foods Market from a “sell” rating to a “hold” rating and raised their price target for the company from $27.00 to $42.00 in a research note on Monday. BMO Capital Markets upgraded Whole Foods Market from an “underperform” rating to a “market perform” rating and raised their price target for the company from $30.00 to $42.00 in a research note on Saturday. Northcoast Research upgraded Whole Foods Market from a “sell” rating to a “neutral” rating in a research note on Friday. Finally, Barclays PLC upgraded Whole Foods Market from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $38.00 to $48.00 in a research note on Friday. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the stock. Whole Foods Market currently has an average rating of “Hold” and a consensus price target of $36.63.

Analyst Recommendations for Whole Foods Market (NASDAQ:WFM)

Shares of Whole Foods Market (NASDAQ WFM) opened at 43.22 on Tuesday. Whole Foods Market has a 12 month low of $27.67 and a 12 month high of $43.64. The company has a market cap of $13.81 billion, a PE ratio of 34.41 and a beta of 0.88. The firm’s 50-day moving average price is $36.15 and its 200-day moving average price is $32.41.

Whole Foods Market (NASDAQ:WFM) last posted its quarterly earnings results on Wednesday, May 10th. The company reported $0.37 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.37. The firm had revenue of $3.74 million during the quarter, compared to the consensus estimate of $3.73 billion. Whole Foods Market had a return on equity of 13.72% and a net margin of 2.54%. The business’s revenue was down 99.9% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. Equities analysts predict that Whole Foods Market will post $1.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 11th. Shareholders of record on Friday, June 30th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, June 28th. This is a boost from Whole Foods Market’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 1.67%. Whole Foods Market’s payout ratio is currently 44.44%.

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In other Whole Foods Market news, insider Juan Nunez sold 14,502 shares of Whole Foods Market stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $27.52, for a total value of $399,095.04. Following the completion of the transaction, the insider now directly owns 5,746 shares of the company’s stock, valued at approximately $158,129.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Angela Lorenzen sold 1,431 shares of Whole Foods Market stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $36.34, for a total value of $52,002.54. Following the completion of the transaction, the insider now directly owns 1,131 shares of the company’s stock, valued at $41,100.54. The disclosure for this sale can be found here. Insiders sold a total of 18,466 shares of company stock valued at $543,688 over the last ninety days. Insiders own 1.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in WFM. Vanguard Group Inc. boosted its position in Whole Foods Market by 3.6% in the first quarter. Vanguard Group Inc. now owns 30,861,862 shares of the company’s stock worth $917,214,000 after buying an additional 1,081,667 shares during the period. BlackRock Inc. boosted its position in Whole Foods Market by 3,657.4% in the first quarter. BlackRock Inc. now owns 26,099,592 shares of the company’s stock worth $775,680,000 after buying an additional 25,404,982 shares during the period. State Street Corp boosted its position in Whole Foods Market by 5.0% in the first quarter. State Street Corp now owns 14,541,942 shares of the company’s stock worth $432,186,000 after buying an additional 689,865 shares during the period. Parnassus Investments CA boosted its position in Whole Foods Market by 29.2% in the first quarter. Parnassus Investments CA now owns 7,825,000 shares of the company’s stock worth $232,559,000 after buying an additional 1,770,000 shares during the period. Finally, Sustainable Growth Advisers LP boosted its position in Whole Foods Market by 12.5% in the first quarter. Sustainable Growth Advisers LP now owns 6,483,692 shares of the company’s stock worth $192,695,000 after buying an additional 720,923 shares during the period. 91.41% of the stock is owned by hedge funds and other institutional investors.

Whole Foods Market Company Profile

Whole Foods Market, Inc is engaged in the business of natural and organic foods supermarket. The Company operates approximately 456 stores in the United States, Canada and the United Kingdom. Its stores have an average size of approximately 39,000 square feet, and are supported by its distribution centers, bake house facilities, commissary kitchens, seafood-processing facilities, a produce procurement center, and a specialty coffee and tea procurement and roasting operation, among others.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:WFM”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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