Whole Foods Market Receives New Coverage from Analysts at Jefferies Group (WFM)
Investment analysts at Jefferies Group started coverage on shares of Whole Foods Market (NYSE:WFM) in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $70.00 price target on the stock. Jefferies Group’s price target indicates a potential upside of 18.34% from the company’s current price.
The analysts wrote, “Whole Foods is riding 7-10% organic food industry growth and we see it delivering 20-22% long-term EPS growth (with upside potential) driven by strong comps and a long runway of 8-9% store growth. The company has emerged from the recession as a more disciplined retailer, with a greater focus on its pricing, cost control, and capital discipline.”
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank initiated coverage on shares of Whole Foods Market in a research note to investors on Wednesday, September 25th. They set a “buy” rating and a $70.00 price target on the stock. Separately, analysts at Northcoast Research downgraded shares of Whole Foods Market from a “buy” rating to a “neutral” rating in a research note to investors on Thursday, August 8th. They now have a $56.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Whole Foods Market in a research note to investors on Tuesday, August 6th. They now have a $59.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $72.82.
Shares of Whole Foods Market (NYSE:WFM) opened at 59.15 on Monday. Whole Foods Market has a one year low of $40.695 and a one year high of $59.99. The stock’s 50-day moving average is $55.94 and its 200-day moving average is $51.70. The company has a market cap of $22.034 billion and a P/E ratio of 40.79.
Whole Foods Market (NYSE:WFM) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.37 by $0.01. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company posted $0.63 earnings per share. Whole Foods Market’s revenue was up 12.1% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 8th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Wednesday, September 25th.
Whole Foods Market, Inc (NYSE:WFM) is a natural and organic foods supermarkets.
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