Capital Investment Counsel Inc Sells 37,247 Shares of Whole Foods Market, Inc. (WFM)

Capital Investment Counsel Inc decreased its position in shares of Whole Foods Market, Inc. (NASDAQ:WFM) by 34.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,403 shares of the company’s stock after selling 37,247 shares during the period. Whole Foods Market accounts for 1.3% of Capital Investment Counsel Inc’s holdings, making the stock its 17th largest position. Capital Investment Counsel Inc’s holdings in Whole Foods Market were worth $3,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WFM. Advisory Services Network LLC purchased a new position in shares of Whole Foods Market during the first quarter valued at about $105,000. AT Bancorp purchased a new position in shares of Whole Foods Market during the second quarter valued at about $118,000. 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 during the period. Winslow Evans & Crocker Inc. boosted its position in shares of 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. Finally, Pacer Advisors Inc. boosted its position in shares of Whole Foods Market by 3.4% in the first quarter. Pacer Advisors Inc. now owns 6,212 shares of the company’s stock valued at $185,000 after buying an additional 207 shares during the period. 86.33% of the stock is owned by institutional investors.

Whole Foods Market, Inc. (NASDAQ WFM) opened at 41.73 on Friday. The company has a market capitalization of $13.36 billion, a price-to-earnings ratio of 34.37 and a beta of 0.82. Whole Foods Market, Inc. has a 52-week low of $27.67 and a 52-week high of $43.84. The firm has a 50 day moving average of $41.85 and a 200-day moving average of $35.72.

Whole Foods Market (NASDAQ:WFM) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. Whole Foods Market had a net margin of 2.44% and a return on equity of 13.26%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.37 EPS. Equities analysts expect that Whole Foods Market, Inc. will post $1.33 EPS for the current year.

Whole Foods Market announced that its board has initiated a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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Several brokerages have issued reports on WFM. BidaskClub cut shares of Whole Foods Market from a “hold” rating to a “sell” rating in a report on Friday. Tigress Financial cut shares of Whole Foods Market from a “buy” rating to a “neutral” rating in a report on Monday, August 7th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Whole Foods Market in a report on Wednesday, July 26th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $42.00 target price on shares of Whole Foods Market in a report on Tuesday, July 18th. Finally, Vetr raised shares of Whole Foods Market from a “hold” rating to a “buy” rating and set a $46.16 target price for the company in a report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and four have issued a buy rating to the company’s stock. Whole Foods Market currently has a consensus rating of “Hold” and an average price target of $38.06.

In other news, insider Angela Lorenzen sold 1,431 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $36.34, for a total transaction of $52,002.54. Following the sale, the insider now owns 1,131 shares of the company’s stock, valued at approximately $41,100.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

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.