Whole Foods Market, Inc. (WFM) Given Consensus Rating of “Hold” by Analysts
Shares of Whole Foods Market, Inc. (NASDAQ:WFM) have been assigned an average rating of “Hold” from the twenty-seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, nineteen have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $36.70.
A number of research firms have weighed in on WFM. BidaskClub upgraded Whole Foods Market from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Tigress Financial cut Whole Foods Market from a “buy” rating to a “neutral” rating in a report on Monday, August 7th. Barclays PLC cut Whole Foods Market from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $48.00 to $42.00 in a report on Wednesday, August 23rd. Wells Fargo & Company restated a “hold” rating on shares of Whole Foods Market in a report on Wednesday, July 26th. Finally, UBS Group AG upgraded Whole Foods Market from a “sell” rating to a “neutral” rating and set a $42.00 price target for the company in a report on Monday, July 10th.
Whole Foods Market (NASDAQ:WFM) last released its quarterly earnings results on Wednesday, July 26th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.03. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.72 billion. Whole Foods Market had a return on equity of 13.51% and a net margin of 2.85%. Whole Foods Market’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS.
A number of hedge funds and other institutional investors have recently modified their holdings of WFM. Teachers Advisors LLC increased its position in Whole Foods Market by 4.0% in the first quarter. Teachers Advisors LLC now owns 622,537 shares of the company’s stock worth $18,502,000 after buying an additional 23,938 shares during the period. Gotham Asset Management LLC acquired a new stake in Whole Foods Market in the first quarter worth $333,000. Bank of Nova Scotia increased its position in Whole Foods Market by 964.2% in the first quarter. Bank of Nova Scotia now owns 74,674 shares of the company’s stock worth $2,219,000 after buying an additional 67,657 shares during the period. Achmea Investment Management B.V. acquired a new stake in Whole Foods Market in the first quarter worth $1,567,000. Finally, Skandinaviska Enskilda Banken AB publ increased its position in Whole Foods Market by 19.4% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 56,965 shares of the company’s stock worth $1,693,000 after buying an additional 9,239 shares during the period. 79.18% of the stock is currently owned by hedge funds and other 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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