Whole Foods Says Key Sales Figure Falls Again

Jul 28, 2016, 01:44

(NASDAQ:WFM)'s stock had its "hold" rating reissued by investment analysts at Jefferies Group in a report issued on Monday. They presently have a $20.00 price target on the stock.

A number of other analysts have also commented on the stock. Whole Foods Market was Upgraded by Credit Suisse to " Outperform" on Jun 1, 2016.

Shares of Whole Foods were down 3.4 percent at $32.50 in after-hours trading.

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Whole Foods WFM, -0.67% shares have an average hold rating among 28 analysts polled by FactSet. Northcoast downgraded the stock on June 15 to "Sell" rating. The company has a market cap of $10.95 billion and a price-to-earnings ratio of 23.27. (WFM) on Wednesday reported fiscal third-quarter net income of $120 million.

Earnings: Analysts polled by FactSet expect earnings of 37 cents per share, down from 43 cents per share for the same period a year ago. Current revenue movements show that, the company has set average revenue estimates of 3.73B covering forecast of 20 analysts. During the same quarter in the previous year, the company posted $0.43 EPS.

"Wellness has gone mass, leaving high-end specialty players like Whole Foods struggling as conventional grocers, warehouse clubs, and lower-priced, more accessible specialty concepts continue to grow their presence in natural and organic and open stores around Whole Foods", wrote Goldman Sachs analyst Stephen Tanal in a damning note on July 26.

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Sales also were up for the 40-week period that ended July 3. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.60%.

Other Hedge Funds, Including, Boston Common Asset Management sold out all of its stake in WFM during the most recent quarter.

Insiders own 1% percent of the stock.

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Jain is ranked #1,229 of 4,079 analysts on TipRanks. Geode Capital Management LLC raised its position in shares of Whole Foods Market by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 107,759 shares of the company's stock valued at $3,610,000 after buying an additional 3,210 shares during the last quarter. The insider owns 216,248 shares as of Feb 12, 2016, now worth $7376219. We are cautious on incumbents facing intrusion from hard discounters (Supervalu (SVU)) and those over- indexed to densely populated markets attracting store growth and online challengers (Whole Foods Market). The shares were sold at an average price of $30.39, for a total value of $379,875.00. Siegel Morris J retains 25,955 shares in the company after this transaction. 1 analysts have suggested "Sell" for the company. The shares were sold at an average price of $30.31, for a total transaction of $348,565.00. Following the completion of the transaction, the insider is left with a stake of 32,145 shares, amounting $1096466. The disclosure for this sale can be found here. The Company has one operating segment natural and organic foods supermarkets. The company has market value of $2.53B.

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