Whole Foods Market, Inc. (NASDAQ:WFM) had its target price lifted by Telsey Advisory Group from $28.00 to $31.00 in a research note released on Thursday. They currently have a market perform rating on the stock.
A number of other equities analysts have also recently issued reports on the company. Credit Suisse Group AG restated a buy rating and set a $36.00 target price on shares of Whole Foods Market in a report on Wednesday, April 5th. Wells Fargo & Co restated a hold rating on shares of Whole Foods Market in a report on Wednesday, February 8th. Standpoint Research started coverage on Whole Foods Market in a report on Tuesday, April 11th. They set a sell rating and a $28.00 target price on the stock. Deutsche Bank AG set a $28.00 target price on Whole Foods Market and gave the stock a hold rating in a report on Tuesday, April 11th. Finally, Pivotal Research restated a sell rating and set a $20.00 target price on shares of Whole Foods Market in a report on Friday, April 14th. Seven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the stock. Whole Foods Market presently has an average rating of Hold and a consensus price target of $32.84.
Shares of Whole Foods Market (NASDAQ:WFM) traded down 2.75% during midday trading on Thursday, reaching $36.01. 3,132,703 shares of the company’s stock traded hands. The firm has a market capitalization of $11.48 billion, a P/E ratio of 28.67 and a beta of 0.75. Whole Foods Market has a 52-week low of $27.67 and a 52-week high of $37.33. The stock’s 50 day moving average price is $33.45 and its 200 day moving average price is $31.18. Whole Foods Market also was the recipient of unusually large options trading on Wednesday. Stock investors purchased 758 put options on the company. This represents an increase of approximately 213% compared to the average volume of 242 put options.
Whole Foods Market (NASDAQ:WFM) last issued its earnings results on Wednesday, May 10th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.37. Whole Foods Market had a return on equity of 14.57% and a net margin of 2.81%. The firm had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter last year, the business earned $0.44 earnings per share. The company’s revenue was down 99.9% compared to the same quarter last year. On average, equities research analysts anticipate that Whole Foods Market will post $1.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 11th. Investors of record on Friday, June 30th will be paid a $0.18 dividend. The ex-dividend date is Wednesday, June 28th. This is an increase from Whole Foods Market’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 1.94%. Whole Foods Market’s payout ratio is 40.29%.
In other Whole Foods Market news, insider Michael Bashaw sold 2,614 shares of Whole Foods Market stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $29.56, for a total value of $77,269.84. Following the completion of the transaction, the insider now directly owns 4,949 shares of the company’s stock, valued at approximately $146,292.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Glenda J. Flanagan sold 4,250 shares of Whole Foods Market stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $31.28, for a total value of $132,940.00. Following the completion of the transaction, the chief financial officer now directly owns 219,372 shares of the company’s stock, valued at $6,861,956.16. The disclosure for this sale can be found here. Insiders sold a total of 21,506 shares of company stock valued at $659,292 over the last 90 days. 1.30% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in shares of Whole Foods Market during the first quarter valued at $105,000. Westside Investment Management Inc. boosted its position in shares of Whole Foods Market by 406.4% in the first quarter. Westside Investment Management Inc. now owns 4,137 shares of the company’s stock valued at $125,000 after buying an additional 3,320 shares in the last quarter. SRB Corp boosted its position in shares of Whole Foods Market by 12.3% in the third quarter. SRB Corp now owns 5,033 shares of the company’s stock valued at $143,000 after buying an additional 552 shares in the last quarter. Seven Bridges Advisors LLC boosted its position in shares of Whole Foods Market by 55.4% in the third quarter. Seven Bridges Advisors LLC now owns 5,331 shares of the company’s stock valued at $151,000 after buying an additional 1,900 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new position in shares of Whole Foods Market during the fourth quarter valued at $163,000. 85.46% of the stock is owned by hedge funds and other institutional investors.
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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