Oppenheimer Holdings, Inc. cut shares of Whole Foods Market, Inc. (NASDAQ:WFM) from an outperform rating to a market perform rating in a research report report published on Wednesday, June 28th, MarketBeat Ratings reports. The firm currently has $45.00 price target on the stock.
Several other equities research analysts have also commented on WFM. UBS AG assumed coverage on shares of Whole Foods Market in a research note on Thursday, March 23rd. They set a sell rating and a $25.00 price target on the stock. BidaskClub upgraded shares of Whole Foods Market from a hold rating to a buy rating in a research note on Tuesday, June 13th. SunTrust Banks, Inc. lowered shares of Whole Foods Market from a buy rating to a hold rating and lifted their price objective for the company from $40.00 to $42.00 in a research note on Tuesday, June 20th. BMO Capital Markets upgraded shares of Whole Foods Market from an underperform rating to a market perform rating and lifted their price objective for the company from $30.00 to $42.00 in a research note on Saturday, June 17th. Finally, Vetr raised shares of Whole Foods Market from a hold rating to a strong-buy rating and set a $35.01 target price on the stock in a report on Wednesday, March 8th. Four equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $37.67.
Whole Foods Market (WFM) traded up 0.10% on Wednesday, reaching $41.82. The company had a trading volume of 3,866,079 shares. The company has a market capitalization of $13.39 billion, a P/E ratio of 34.45 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 $41.16 and its 200-day moving average is $34.55.
Whole Foods Market (NASDAQ:WFM) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The business had revenue of $3.73 billion during 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 company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. Equities research analysts forecast that Whole Foods Market will post $1.32 EPS for the current fiscal year.
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Whole Foods Market announced that its board has initiated a stock repurchase program on Wednesday, May 10th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the company to reacquire up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Friday, June 30th were given a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. This is a positive change from Whole Foods Market’s previous quarterly dividend of $0.14. Whole Foods Market’s dividend payout ratio is presently 59.02%.
In other Whole Foods Market news, insider Angela Lorenzen sold 1,431 shares of the stock in a transaction 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 transaction, the insider now directly owns 1,131 shares in the company, valued at approximately $41,100.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Juan Nunez sold 14,502 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $27.52, for a total transaction of $399,095.04. Following the transaction, the insider now owns 5,746 shares in the company, valued at $158,129.92. The disclosure for this sale can be found here. Insiders sold 18,466 shares of company stock valued at $543,688 in the last three months. Company insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Winslow Evans & Crocker Inc. increased 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 worth $132,000 after buying an additional 2,154 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Whole Foods Market during the first quarter worth $105,000. Westside Investment Management Inc. boosted its stake 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 worth $125,000 after buying an additional 3,320 shares during the period. Baldwin Brothers Inc. MA acquired a new stake in shares of Whole Foods Market during the second quarter worth $190,000. Finally, Appleton Partners Inc. MA acquired a new stake in shares of Whole Foods Market during the second quarter worth $213,000. Hedge funds and other institutional investors own 89.32% 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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