Whole Foods Market, Inc. (NASDAQ:WFM) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Friday.
Other research analysts have also issued reports about the company. Royal Bank Of Canada boosted their price target on Whole Foods Market from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. UBS AG reissued a “sell” rating and issued a $25.00 price target on shares of Whole Foods Market in a research report on Friday, April 14th. BMO Capital Markets raised Whole Foods Market from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $30.00 to $42.00 in a research report on Saturday, June 17th. Telsey Advisory Group boosted their price target on Whole Foods Market from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Thursday, May 11th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $42.00 price target (up from $39.00) on shares of Whole Foods Market in a research report on Friday, June 23rd. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.06.
Whole Foods Market (NASDAQ WFM) traded down 0.203% during trading on Friday, reaching $41.745. The company’s stock had a trading volume of 6,878,861 shares. The company has a market capitalization of $13.37 billion, a P/E ratio of 34.386 and a beta of 0.82. Whole Foods Market has a 12-month low of $27.67 and a 12-month high of $43.84. The firm’s 50-day moving average price is $41.99 and its 200 day moving average price is $35.24.
Whole Foods Market (NASDAQ:WFM) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. Whole Foods Market had a return on equity of 13.26% and a net margin of 2.44%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. On average, analysts predict that Whole Foods Market will post $1.34 earnings per share for the current fiscal year.
Whole Foods Market announced that its Board of Directors has approved a share repurchase program on Wednesday, May 10th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 10.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, insider Laura A. Derba sold 2,200 shares of the company’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $36.48, for a total value of $80,256.00. Following the sale, the insider now owns 3,418 shares in the company, valued at $124,688.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Lorenzen sold 1,431 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $36.34, for a total value of $52,002.54. Following the completion of the sale, the insider now owns 1,131 shares in the company, valued at approximately $41,100.54. The disclosure for this sale can be found here. Insiders sold 18,133 shares of company stock worth $531,354 in the last 90 days. Company insiders own 1.30% of the company’s stock.
Several hedge funds have recently modified their holdings of WFM. Quadrature Capital Ltd acquired a new position in shares of Whole Foods Market during the fourth quarter worth about $289,000. Teachers Advisors LLC increased its position in shares of Whole Foods Market by 21.8% in the fourth quarter. Teachers Advisors LLC now owns 598,599 shares of the company’s stock worth $18,413,000 after buying an additional 106,959 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Whole Foods Market by 17.1% in the fourth quarter. Macquarie Group Ltd. now owns 37,000 shares of the company’s stock worth $1,138,000 after buying an additional 5,400 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of Whole Foods Market by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 276,132 shares of the company’s stock worth $8,206,000 after buying an additional 8,796 shares in the last quarter. Finally, Raymond James Trust N.A. increased its position in shares of Whole Foods Market by 12.6% in the first quarter. Raymond James Trust N.A. now owns 7,414 shares of the company’s stock worth $220,000 after buying an additional 831 shares in the last quarter. Hedge funds and other institutional investors own 87.89% of the company’s stock.
About Whole Foods Market
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.
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