Whole Foods Market, Inc. (NASDAQ:WFM) Set to Announce Earnings on Tuesday
Whole Foods Market, Inc. (NASDAQ:WFM) is scheduled to be announcing its earnings results after the market closes on Tuesday, July 25th. Analysts expect the company to announce earnings of $0.33 per share for the quarter.
Whole Foods Market (NASDAQ:WFM) last announced its quarterly earnings results on Wednesday, May 10th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Whole Foods Market had a net margin of 2.54% and a return on equity of 13.72%. The firm had revenue of $3.74 million during the quarter, compared to analysts’ expectations of $3.73 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The company’s revenue was down 99.9% compared to the same quarter last year. On average, analysts expect Whole Foods Market to post $1.30 EPS for the current fiscal year and $1.37 EPS for the next fiscal year.
Shares of Whole Foods Market, Inc. (WFM) opened at 41.89 on Tuesday. The stock has a market cap of $13.39 billion, a PE ratio of 33.35 and a beta of 0.82. The stock has a 50 day moving average of $37.57 and a 200 day moving average of $33.06. Whole Foods Market, Inc. has a 12 month low of $27.67 and a 12 month high of $43.84.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 11th. Investors of record on Friday, June 30th were issued a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.72%. This is a boost from Whole Foods Market’s previous quarterly dividend of $0.14. Whole Foods Market’s payout ratio is 57.14%.
Whole Foods Market declared that its Board of Directors has authorized a share repurchase plan on Wednesday, May 10th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the company to buy up to 10.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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In other Whole Foods Market news, insider Juan Nunez sold 14,502 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $27.52, for a total value of $399,095.04. Following the transaction, the insider now directly owns 5,746 shares in the company, valued at approximately $158,129.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Laura A. Derba sold 2,200 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were 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 owns 3,418 shares in the company, valued at $124,688.64. The disclosure for this sale can be found here. Insiders sold a total of 18,466 shares of company stock worth $543,688 over the last quarter. Insiders own 1.30% of the company’s stock.
A number of research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Whole Foods Market from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Thursday, May 11th. Zacks Investment Research upgraded shares of Whole Foods Market from a “sell” rating to a “hold” rating in a report on Friday, May 12th. BidaskClub upgraded shares of Whole Foods Market from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Vetr upgraded shares of Whole Foods Market from a “strong sell” rating to a “hold” rating and set a $42.27 price target for the company in a research note on Monday, June 19th. Finally, Wolfe Research upgraded shares of Whole Foods Market from an “underperform” rating to a “market perform” rating in a research note on Tuesday, May 2nd. Three research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $37.42.
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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