Citigroup Inc. Reiterates “Neutral” Rating for Whole Foods Market (WFM)
Whole Foods Market (NYSE:WFM)‘s stock had its “neutral” rating reiterated by stock analysts at Citigroup Inc. in a report issued on Wednesday. They currently have a $41.00 price target on the stock, down from their previous price target of $55.00. Citigroup Inc.’s price objective suggests a potential upside of 8.72% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Ned Davis Research upgraded shares of Whole Foods Market from a “neutral” rating to a “buy” rating in a research note on Monday, May 12th. Separately, analysts at Zacks upgraded shares of Whole Foods Market from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 8th. They now have a $41.00 price target on the stock. Finally, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Whole Foods Market in a research note on Wednesday, May 7th. They now have a $48.00 price target on the stock, down previously from $57.00. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.95.
In other Whole Foods Market news, Director John Elstrott bought 2,645 shares of the stock on the open market in a transaction that occurred on Monday, June 2nd. The shares were purchased at an average cost of $37.79 per share, with a total value of $99,954.55. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.
Whole Foods Market (NYSE:WFM) traded up 1.75% on Wednesday, hitting $38.37. The stock had a trading volume of 2,343,892 shares. Whole Foods Market has a 1-year low of $37.02 and a 1-year high of $65.59. The stock has a 50-day moving average of $43.16 and a 200-day moving average of $51.33. The company has a market cap of $14.104 billion and a P/E ratio of 25.14.
Whole Foods Market (NYSE:WFM) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.03. The company had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts expect that Whole Foods Market will post $1.53 EPS for the current fiscal year.
Whole Foods Market, Inc (NYSE:WFM), is a retailer of natural and organic foods.
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