North American Management Corp Holds Stake in Whole Foods Market, Inc. (NASDAQ:WFM)
North American Management Corp continued to hold its stake in shares of Whole Foods Market, Inc. (NASDAQ:WFM) during the second quarter, Holdings Channel reports. The firm owned 14,000 shares of the company’s stock at the end of the second quarter. North American Management Corp’s holdings in Whole Foods Market were worth $590,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of WFM. Renaissance Technologies LLC increased its position in Whole Foods Market by 133.5% in the fourth quarter. Renaissance Technologies LLC now owns 181,648 shares of the company’s stock valued at $5,587,000 after buying an additional 103,848 shares during the period. Numeric Investors LLC increased its position in Whole Foods Market by 6.3% in the fourth quarter. Numeric Investors LLC now owns 11,800 shares of the company’s stock valued at $363,000 after buying an additional 700 shares during the period. Quadrature Capital Ltd acquired a new position in Whole Foods Market during the fourth quarter valued at $289,000. Teachers Advisors LLC increased its position in Whole Foods Market by 21.8% in the fourth quarter. Teachers Advisors LLC now owns 598,599 shares of the company’s stock valued at $18,413,000 after buying an additional 106,959 shares during the period. Finally, Kentucky Retirement Systems acquired a new position in Whole Foods Market during the fourth quarter valued at $711,000. Institutional investors and hedge funds own 89.58% of the company’s stock.
Shares of Whole Foods Market, Inc. (NASDAQ WFM) traded down 0.50% during mid-day trading on Monday, hitting $41.89. The company had a trading volume of 15,775,380 shares. Whole Foods Market, Inc. has a 12-month low of $27.67 and a 12-month high of $43.84. The firm’s 50 day moving average is $37.57 and its 200-day moving average is $33.06. The firm has a market cap of $13.39 billion, a PE ratio of 33.35 and a beta of 0.82.
Whole Foods Market (NASDAQ:WFM) last released its quarterly earnings data on Wednesday, May 10th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.73 billion. Whole Foods Market had a return on equity of 13.72% and a net margin of 2.54%. The company’s quarterly revenue was down 99.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.44 earnings per share. On average, equities analysts expect that Whole Foods Market, Inc. will post $1.30 EPS for the current year.
Whole Foods Market declared that its board has initiated a stock repurchase program on Wednesday, May 10th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the company to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 30th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.72%. This is an increase from Whole Foods Market’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, June 28th. Whole Foods Market’s payout ratio is presently 57.14%.
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Several equities analysts recently weighed in on the company. UBS AG assumed coverage on Whole Foods Market in a research report on Thursday, March 23rd. They set a “sell” rating and a $25.00 target price on the stock. Vetr upgraded Whole Foods Market from a “hold” rating to a “buy” rating and set a $46.16 target price on the stock in a research report on Friday. SunTrust Banks, Inc. lowered Whole Foods Market from a “buy” rating to a “hold” rating and upped their price target for the stock from $40.00 to $42.00 in a research note on Tuesday, June 20th. Wells Fargo & Company lowered Whole Foods Market from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $45.00 to $42.00 in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded Whole Foods Market from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Three investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $37.42.
In other news, insider Juan Nunez sold 14,502 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was 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 of the company’s stock, valued at approximately $158,129.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Lorenzen sold 1,431 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $36.34, for a total value of $52,002.54. Following the completion of the transaction, the insider now directly owns 1,131 shares in the company, valued at $41,100.54. The disclosure for this sale can be found here. Insiders have sold 18,466 shares of company stock worth $543,688 over the last ninety days. Company insiders own 1.30% of the company’s stock.
Whole Foods Market Company Profile
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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