Whole Foods Market, Inc. (NASDAQ:WFM)‘s stock had its “outperform” rating reaffirmed by Oppenheimer Holdings Inc. in a note issued to investors on Friday, April 14th. They presently have a $40.00 target price on the stock, up from their previous target price of $35.00. Oppenheimer Holdings Inc.’s price objective suggests a potential upside of 10.65% from the stock’s previous close.
Other equities analysts have also issued research reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $35.00 price objective on shares of Whole Foods Market in a research note on Monday, March 13th. Zacks Investment Research upgraded Whole Foods Market from a “sell” rating to a “hold” rating in a research report on Saturday, January 7th. Deutsche Bank AG restated a “hold” rating and set a $28.00 target price (down from $29.00) on shares of Whole Foods Market in a research report on Thursday, February 9th. BMO Capital Markets reiterated an “underperform” rating and issued a $23.00 price objective on shares of Whole Foods Market in a report on Thursday, February 9th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Whole Foods Market in a report on Wednesday, February 8th. Seven investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the stock. Whole Foods Market currently has a consensus rating of “Hold” and an average price target of $32.94.
Whole Foods Market (NASDAQ:WFM) traded down 0.014% during midday trading on Friday, hitting $36.145. The stock had a trading volume of 2,075,583 shares. The stock has a market cap of $11.52 billion, a P/E ratio of 28.778 and a beta of 0.75. The company has a 50-day moving average price of $34.71 and a 200-day moving average price of $31.51. Whole Foods Market has a 52 week low of $27.67 and a 52 week high of $38.29.
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. The company had revenue of $3.74 million during the quarter, compared to analyst estimates of $3.73 billion. Whole Foods Market had a return on equity of 14.57% and a net margin of 2.81%. The firm’s quarterly revenue was down 99.9% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Equities analysts expect that Whole Foods Market will post $1.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 11th. Shareholders of record on Friday, June 30th will be issued a $0.18 dividend. The ex-dividend date is Wednesday, June 28th. 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 yield of 1.99%. Whole Foods Market’s dividend payout ratio (DPR) is 40.29%.
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In other news, insider Michael Bashaw sold 2,614 shares of the stock in a transaction that occurred on Friday, March 3rd. The shares were sold at an average price of $29.56, for a total value of $77,269.84. Following the sale, the insider now directly owns 4,949 shares in the company, valued at $146,292.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider A C. Gallo sold 5,136 shares of the stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $31.23, for a total transaction of $160,397.28. Following the completion of the sale, the insider now owns 62,792 shares in the company, valued at $1,960,994.16. The disclosure for this sale can be found here. Insiders sold 37,736 shares of company stock worth $1,126,006 over the last quarter. Company insiders own 1.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Whole Foods Market by 3,657.4% in the first quarter. BlackRock Inc. now owns 26,099,592 shares of the company’s stock worth $775,680,000 after buying an additional 25,404,982 shares during the period. Norges Bank purchased a new stake in shares of Whole Foods Market during the fourth quarter worth about $165,510,000. Equity Investment Corp Acquisition Inc purchased a new stake in shares of Whole Foods Market during the fourth quarter worth about $67,167,000. Morgan Stanley raised its stake in shares of Whole Foods Market by 85.8% in the third quarter. Morgan Stanley now owns 4,662,898 shares of the company’s stock worth $132,192,000 after buying an additional 2,152,964 shares during the period. Finally, Parnassus Investments CA raised its stake in shares of Whole Foods Market by 29.2% in the first quarter. Parnassus Investments CA now owns 7,825,000 shares of the company’s stock worth $232,559,000 after buying an additional 1,770,000 shares during the period. Hedge funds and other institutional investors own 85.46% of the company’s stock.
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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