Whole Foods Market, Inc. has a 12-month low of $35.52 and a 12-month high of $36.70. The stock has a 50 day moving average of $40.51 and a 200 day moving average of $47.73. Revenues of $3,632 million also missed the Zacks Consensus Estimate of $3,697 million.
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Whole Foods (WFM) shares dropped more than 10% in after-hours trading Wednesday after it missed Wall Street expectations for the third quarter and cut its outlook for the year. This number was $0.01 away from what analysts had predicted resulting with a surprise factor of 2.38%. This estimate is based on 16 analysts that are giving their projections for the quarter. The figure fell to 0.4 percent in the final two weeks of the period after the NYC audit became public. Stores will average about 30,000 sq. ft. Stockholders of record on Thursday, July 2nd were issued a dividend of $0.13 per share.
Analysts surveyed by Thomson Reuters expected a profit of 45 cents on revenue of $3.69 billion.
According to company officials, 365 by Whole Foods Market leverages Whole Foods Market’s long history of retail innovation and extends the grocer’s reach in the marketplace to even more consumers who want top quality groceries at value prices. SunTrust reissued a buy rating and set a $55.00 price target on shares of Whole Foods Market in a research report on Friday, July 10th.
Whole Foods Market (NYSE:WFM) traded down 11.306% on Monday, hitting $36.205. As per the latest information, Morgan Stanley low the price target to $37.00 per share from a prior target of $56.00.
Whole Foods should be doing much better, with falling energy prices and a stronger dollar, because it doesn’t have worldwide exposure, Terranova explained. The analyst also reiterated a Neutral rating on the stock. The company made the “strategic decision to renegotiate the lease in development for the Silver Lake location”, converting it from a Whole Foods Market to a 365 by Whole Foods Market store. One package was overpriced by $4.85. The disclosure for this sale can be found here.
Brokerage firm Morgan Stanley Downgrades its rating on Whole Foods Market(NASDAQ:WFM).
Whole Foods now operates 424 stores in the U.S., Canada, and the United Kingdom The company opened 8 new outlets during the reported quarter.
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“We’re so excited to be joining the community in Kirkland and we look forward to sharing our mission and values with our new neighbors”, said Joe Rogoff, Whole Foods Market’s President of the Pacific Northwest region. The offices of the Firm are supported by its headquarters, regional offices, distribution centers, bakehouse facilities, commissary kitchens, seafood-processing facilities, meat and make procurement centers, as well as a specialty coffee and tea procurement and roasting operation.
