Whole Foods Market, Inc. (WFM)

Eloi Lecerf
Julho 7, 2017

They set a "buy" rating and a $42.00 price target on the stock. Barclays PLC's target price suggests a potential upside of 14.31% from the company's current price.

Whole Foods also said it had received interest from two other companies and four private equity firms before agreeing to engage with Amazon.

Whole Food shares traded above Amazon's $42-per-share deal price for the first few days after the agreement was announced on June 16, on investor expectations of a higher bid.

Whole Foods Market (NASDAQ:WFM) shows a Forward Annual Dividend Rate of $0.55 and Trailing Annual Dividend Yield of 1.31% according to MorningStar Inc. Wells Fargo & Company upgraded Whole Foods Market from a "market perform" rating to an "outperform" rating and set a $42.00 price objective for the company in a research note on Thursday, May 11th. The company now has an average rating of "Hold" and an average target price of $37.16.

Amazon's shares were up nearly 1 percent at $973.88 in early trading on Friday, while Whole Foods shares were marginally down at $41.98. The company has market cap of $13.40 billion.

On this news, shares of Amazon exploded, and have since come back down to earth as investors begin to weigh the significance of the deal alongside the realities of the food distribution business (highly competitive, low margins, traditional hub and spoke model) as factors which may make this exercise less profitable and exciting than some analysts believe as of right now. The stock's 50 day moving average price is $37.57 and its 200 day moving average price is $33.06.

Whole Foods Market (NASDAQ:WFM) last posted its quarterly earnings results on Wednesday, May 10th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.37. Jefferies maintained Whole Foods Market, Inc. The business had revenue of $3.74 million during the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share.

Quarterly Revenue growth year over year is 1.1 Percent. On average, equities analysts predict that Whole Foods Market will post $1.30 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 11th. Investors of record on Friday, June 30th will be issued a $0.18 dividend. This is a positive change from Whole Foods Market's previous quarterly dividend of $0.14. (NASDAQ:WFM) earned "Outperform" rating by Credit Suisse on Wednesday, June 1. Whole Foods Market's payout ratio is now 57.14%.

Nevertheless, Austin, Texas-based Whole Foods agreed not to pursue this, or solicit any other bids, in part because Amazon was "very sensitive with respect to confidentiality" and did not want to compete in a broader sale process, the filing said. If you are accessing this piece on another publication, it was illegally copied and republished in violation of United States & global copyright and trademark law. The original version of this article can be viewed at https://www.chaffeybreeze.com/2017/07/07/principal-financial-group-inc-raises-position-in-whole-foods-market-inc-wfm-updated.html.

In other news, insider Laura A. Derba sold 2,200 shares of the business's stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $27.52, for a total transaction of $399,095.04. Following the completion of the sale, the insider now owns 5,746 shares of the company's stock, valued at $158,129.92. (NASDAQ:WFM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.

In other news, insider Angela Lorenzen sold 1,431 shares of the firm's stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $36.34, for a total value of $52,002.54.

Oz Management Lp decreased Sears Hldgs Corp (NASDAQ:SHLD) stake by 1.40 million shares to 414,100 valued at $3.85 million in 2016Q4. The disclosure for this sale can be found here. Centre Asset Management LLC bought a new stake in shares of Whole Foods Market during the first quarter worth approximately $3,683,000.

Caisse DE Depot ET Placement DU Quebec reduced its stake in shares of Whole Foods Market, Inc. Acropolis Investment Management LLC now owns 40,147 shares of the company's stock valued at $1,193,000 after buying an additional 1,185 shares during the period. Acropolis Investment Management LLC boosted its stake in shares of Whole Foods Market by 3.0% in the first quarter.

American International Group Inc increased Sm Energy Co (NYSE:SM) stake by 18,157 shares to 185,980 valued at $6.41 million in 2016Q4. Boltwood Capital Management boosted its stake in shares of Whole Foods Market by 11.3% in the first quarter.

Whole Foods Market, Inc.is engaged in the business of natural and organic foods supermarket.

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