BMO Capital Markets Increases Whole Foods Market, Inc. (WFM) Price Target to $30.00

Whole Foods Market, Inc. (NASDAQ:WFM) had its target price increased by BMO Capital Markets from $28.00 to $30.00 in a report published on Friday, May 12th. BMO Capital Markets currently has an underperform rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Royal Bank Of Canada lifted their target price on shares of Whole Foods Market from $35.00 to $42.00 and gave the stock an outperform rating in a research report on Thursday, April 27th. Telsey Advisory Group boosted their price objective on shares of Whole Foods Market from $28.00 to $31.00 and gave the company a market perform rating in a research report on Thursday, May 11th. SunTrust Banks, Inc. reissued a buy rating on shares of Whole Foods Market in a research report on Wednesday, March 29th. Wells Fargo & Company reissued a hold rating on shares of Whole Foods Market in a research report on Monday, April 10th. Finally, Credit Suisse Group reissued a buy rating and set a $40.00 price objective (up previously from $36.00) on shares of Whole Foods Market in a research report on Tuesday, April 11th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. Whole Foods Market currently has a consensus rating of Hold and an average target price of $34.30.

Whole Foods Market (NASDAQ WFM) traded up 29.10% during trading on Friday, reaching $42.68. The company’s stock had a trading volume of 128,832,883 shares. Whole Foods Market has a 52 week low of $27.67 and a 52 week high of $43.45. The stock’s 50 day moving average is $35.95 and its 200-day moving average is $32.29. The firm has a market cap of $13.64 billion, a P/E ratio of 33.98 and a beta of 0.88.

Whole Foods Market (NASDAQ:WFM) last posted its earnings results on Wednesday, May 10th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Whole Foods Market had a net margin of 2.54% and a return on equity of 13.72%. The business had revenue of $3.74 million during the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm’s revenue was down 99.9% on a year-over-year basis. On average, equities research analysts forecast that Whole Foods Market will post $1.31 earnings per share for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 11th. Investors of record on Friday, June 30th will be given a dividend of $0.18 per share. This is a boost from Whole Foods Market’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $0.72 dividend on an annualized basis and a yield of 1.69%. Whole Foods Market’s dividend payout ratio is presently 44.44%.

In other Whole Foods Market news, insider Angela Lorenzen sold 1,431 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $36.34, for a total value of $52,002.54. Following the completion of the transaction, the insider now owns 1,131 shares of the company’s stock, valued at $41,100.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 transaction of $80,256.00. Following the completion of the transaction, the insider now directly owns 3,418 shares of the company’s stock, valued at approximately $124,688.64. The disclosure for this sale can be found here. Insiders have sold 18,466 shares of company stock valued at $543,688 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can boosted its position in 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in 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. World Asset Management Inc boosted its position in 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. Synovus Financial Corp boosted its position in 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. Finally, Wells Fargo & Company MN boosted its position in Whole Foods Market by 18.2% in the third quarter. Wells Fargo & Company MN now owns 1,898,006 shares of the company’s stock worth $53,807,000 after buying an additional 292,324 shares in the last quarter. 91.41% of the stock is owned by institutional investors and hedge funds.

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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