Whole Foods Market, Inc. (NASDAQ:WFM)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank Of Canada in a research report issued on Tuesday, July 18th. They presently have a $42.00 price objective on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 0.45% from the company’s previous close.
Several other equities analysts also recently commented on WFM. UBS AG started coverage on Whole Foods Market in a report on Thursday, March 23rd. They set a “sell” rating and a $25.00 price target on the stock. Barclays PLC reiterated an “equal weight” rating and set a $30.00 price target on shares of Whole Foods Market in a report on Monday, March 27th. SunTrust Banks, Inc. reissued a “buy” rating on shares of Whole Foods Market in a research report on Wednesday, March 29th. Credit Suisse Group reissued a “buy” rating and issued a $36.00 price objective on shares of Whole Foods Market in a research report on Wednesday, April 5th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Whole Foods Market in a research report on Monday, April 10th. Four analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $38.06.
Whole Foods Market (NASDAQ:WFM) opened at 41.81 on Tuesday. The firm has a market capitalization of $13.38 billion, a PE ratio of 34.44 and a beta of 0.82. Whole Foods Market has a 52-week low of $27.67 and a 52-week high of $43.84. The stock’s 50 day moving average is $41.52 and its 200-day moving average is $34.78.
Whole Foods Market (NASDAQ:WFM) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Whole Foods Market had a return on equity of 13.26% and a net margin of 2.44%. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that Whole Foods Market will post $1.34 earnings per share for the current year.
Whole Foods Market declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 10th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the company to repurchase up to 10.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
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In other news, insider Laura A. Derba sold 2,200 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $36.48, for a total value of $80,256.00. Following the completion of the sale, the insider now directly owns 3,418 shares in the company, valued at $124,688.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Juan Nunez sold 14,502 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $27.52, for a total value of $399,095.04. Following the completion of the sale, the insider now owns 5,746 shares of the company’s stock, valued at $158,129.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,466 shares of company stock valued at $543,688. Company insiders own 1.30% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. AT Bancorp purchased a new stake in shares of Whole Foods Market during the second quarter worth approximately $118,000. Winslow Evans & Crocker Inc. boosted its position in Whole Foods Market by 169.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,428 shares of the company’s stock valued at $132,000 after buying an additional 2,154 shares during the period. Advisory Services Network LLC acquired a new position in Whole Foods Market during the first quarter valued at $105,000. Westside Investment Management Inc. boosted its position in 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 during the period. Finally, Baldwin Brothers Inc. MA acquired a new position in Whole Foods Market during the second quarter valued at $190,000. Hedge funds and other institutional investors own 88.23% of the company’s stock.
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.
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