Whole Foods Market, Inc. (NASDAQ:WFM) had its target price raised by Telsey Advisory Group from $28.00 to $31.00 in a report released on Thursday morning. They currently have a market perform rating on the stock.
Other equities research analysts have also issued research reports about the company. Wells Fargo & Co reissued a hold rating on shares of Whole Foods Market in a research note on Monday, April 10th. Credit Suisse Group AG restated a buy rating and set a $36.00 price target on shares of Whole Foods Market in a research report on Wednesday, April 5th. Royal Bank of Canada restated an outperform rating and set a $37.00 price target on shares of Whole Foods Market in a research report on Friday, February 3rd. Morgan Stanley restated an equal weight rating and set a $29.00 price target (down previously from $32.00) on shares of Whole Foods Market in a research report on Thursday, February 9th. Finally, Barclays PLC restated an equal weight rating and set a $30.00 price target on shares of Whole Foods Market in a research report on Thursday, February 9th. Seven equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. The company 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 trading on Thursday, reaching $36.01. The company’s stock had a trading volume of 3,132,703 shares. The stock has a 50-day moving average of $33.45 and a 200-day moving average of $31.18. Whole Foods Market has a 52-week low of $27.67 and a 52-week high of $37.33. The stock has a market cap of $11.48 billion, a P/E ratio of 28.67 and a beta of 0.75. Whole Foods Market also was the recipient of unusually large options trading on Wednesday. Traders bought 758 put options on the company. This is an increase of 213% compared to the typical volume of 242 put options.
Whole Foods Market (NASDAQ:WFM) last posted its quarterly earnings results on Wednesday, May 10th. The company reported $0.37 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 during the quarter, compared to analyst estimates of $3.73 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was down 99.9% on a year-over-year basis. Analysts predict that Whole Foods Market will post $1.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 11th. Stockholders of record on Friday, June 30th will be given a $0.18 dividend. This is a boost from Whole Foods Market’s previous quarterly dividend of $0.14. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Wednesday, June 28th. Whole Foods Market’s payout ratio is currently 40.29%.
In related news, insider A C. Gallo sold 5,136 shares of the business’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $31.23, for a total value of $160,397.28. Following the completion of the transaction, the insider now directly owns 62,792 shares in the company, valued at approximately $1,960,994.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christina Minardi sold 2,061 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $29.30, for a total transaction of $60,387.30. Following the completion of the transaction, the insider now owns 1,461 shares of the company’s stock, valued at $42,807.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,506 shares of company stock worth $659,292. Insiders own 1.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in WFM. Great West Life Assurance Co. Can raised its position in shares of Whole Foods Market by 2.9% in the third quarter. Great West Life Assurance Co. Can now owns 417,849 shares of the company’s stock worth $11,831,000 after buying an additional 11,963 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Whole Foods Market by 2.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 49,672 shares of the company’s stock worth $1,408,000 after buying an additional 1,191 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in shares of Whole Foods Market during the third quarter worth $196,000. World Asset Management Inc raised its stake in shares of Whole Foods Market by 1.3% in the third quarter. World Asset Management Inc now owns 34,141 shares of the company’s stock worth $968,000 after buying an additional 427 shares in the last quarter. Finally, Synovus Financial Corp raised its stake in shares of Whole Foods Market by 41.0% in the third quarter. Synovus Financial Corp now owns 6,895 shares of the company’s stock worth $195,000 after buying an additional 2,005 shares in the last quarter. Institutional investors own 85.46% 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.