Whole Foods Market, Inc. (WFM) Expected to Post Quarterly Sales of $3.57 Billion
Wall Street analysts expect that Whole Foods Market, Inc. (NASDAQ:WFM) will report $3.57 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Whole Foods Market’s earnings, with the highest sales estimate coming in at $3.63 billion and the lowest estimate coming in at $3.51 billion. Whole Foods Market reported sales of $3.50 billion in the same quarter last year, which indicates a positive year over year growth rate of 2%. The business is scheduled to issue its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Whole Foods Market will report full-year sales of $3.57 billion for the current fiscal year, with estimates ranging from $15.88 billion to $16.01 billion. For the next financial year, analysts forecast that the firm will report sales of $16.64 billion per share, with estimates ranging from $16.32 billion to $16.99 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Whole Foods Market.
Whole Foods Market (NASDAQ:WFM) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.03. Whole Foods Market had a return on equity of 13.26% and a net margin of 2.44%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period in the previous year, the business earned $0.37 EPS. Whole Foods Market’s quarterly revenue was up .6% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the stock. Tigress Financial downgraded shares of Whole Foods Market from a “buy” rating to a “neutral” rating in a research report on Monday. Wells Fargo & Company reiterated a “hold” rating on shares of Whole Foods Market in a research report on Wednesday, July 26th. BidaskClub downgraded shares of Whole Foods Market from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $42.00 price target on shares of Whole Foods Market in a research report on Tuesday, July 18th. Finally, Vetr upgraded shares of Whole Foods Market from a “hold” rating to a “buy” rating and set a $46.16 price target for the company in a research report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.06.
Shares of Whole Foods Market (WFM) opened at 41.82 on Tuesday. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 34.45 and a beta of 0.82. The firm’s 50-day moving average price is $41.52 and its 200 day moving average price is $34.78. Whole Foods Market has a 1-year low of $27.67 and a 1-year high of $43.84.
Whole Foods Market announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 10th that authorizes the company to buyback $1.25 billion in shares. This buyback authorization authorizes the company to purchase up to 10.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 30th were paid a $0.18 dividend. This is a boost from Whole Foods Market’s previous quarterly dividend of $0.14. This represents a $0.72 annualized dividend and a yield of 1.72%. The ex-dividend date was Wednesday, June 28th. Whole Foods Market’s payout ratio is presently 59.02%.
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In other news, insider Angela Lorenzen sold 1,431 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $36.34, for a total transaction of $52,002.54. Following the completion of the sale, the insider now directly owns 1,131 shares of the company’s stock, valued at approximately $41,100.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Juan Nunez sold 14,502 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $27.52, for a total transaction of $399,095.04. Following the sale, the insider now directly owns 5,746 shares of the company’s stock, valued at $158,129.92. The disclosure for this sale can be found here. Insiders have sold a total of 18,466 shares of company stock valued at $543,688 over the last three months. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund boosted its stake in shares of Whole Foods Market by 1.6% in the first quarter. Oregon Public Employees Retirement Fund now owns 143,522 shares of the company’s stock valued at $4,265,000 after buying an additional 2,300 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in shares of Whole Foods Market by 16.8% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 512,229 shares of the company’s stock valued at $14,938,000 after buying an additional 73,498 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Whole Foods Market by 17.1% in the fourth quarter. Macquarie Group Ltd. now owns 37,000 shares of the company’s stock valued at $1,138,000 after buying an additional 5,400 shares in the last quarter. Everence Capital Management Inc. bought a new stake in shares of Whole Foods Market during the first quarter valued at about $383,000. Finally, IFP Advisors Inc boosted its stake in shares of Whole Foods Market by 52.5% in the first quarter. IFP Advisors Inc now owns 17,547 shares of the company’s stock valued at $522,000 after buying an additional 6,044 shares in the last quarter. 87.89% of the stock is owned by institutional investors.
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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