Whole Foods Market, Inc. (NASDAQ:WFM) Stake Increased by Sheets Smith Wealth Management
Sheets Smith Wealth Management boosted its stake in Whole Foods Market, Inc. (NASDAQ:WFM) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,580 shares of the company’s stock after buying an additional 2 shares during the period. Sheets Smith Wealth Management’s holdings in Whole Foods Market were worth $319,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in Whole Foods Market during the first quarter valued at about $105,000. Westside Investment Management Inc. raised its stake in Whole Foods Market by 406.4% in the first quarter. Westside Investment Management Inc. now owns 4,137 shares of the company’s stock valued at $125,000 after buying an additional 3,320 shares during the last quarter. Winslow Evans & Crocker Inc. raised its stake in Whole Foods Market by 169.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 3,428 shares of the company’s stock valued at $132,000 after buying an additional 2,154 shares during the last quarter. Pacer Advisors Inc. raised its stake in Whole Foods Market by 3.4% in the first quarter. Pacer Advisors Inc. now owns 6,212 shares of the company’s stock valued at $185,000 after buying an additional 207 shares during the last quarter. Finally, Baldwin Brothers Inc. MA purchased a new stake in Whole Foods Market during the second quarter valued at about $190,000. 89.58% of the stock is currently owned by institutional investors and hedge funds.
Shares of Whole Foods Market, Inc. (NASDAQ WFM) traded down 0.12% during mid-day trading on Friday, hitting $41.71. 9,304,342 shares of the stock were exchanged. The company has a 50-day moving average of $40.01 and a 200 day moving average of $34.10. Whole Foods Market, Inc. has a one year low of $27.67 and a one year high of $43.84. The stock has a market cap of $13.33 billion, a PE ratio of 33.21 and a beta of 0.82.
Whole Foods Market (NASDAQ:WFM) last announced its quarterly earnings data on Wednesday, May 10th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $3.74 million for the quarter, compared to the consensus estimate of $3.73 billion. Whole Foods Market had a net margin of 2.54% and a return on equity of 13.72%. The company’s quarterly revenue was down 99.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 earnings per share. On average, equities analysts predict that Whole Foods Market, Inc. will post $1.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 11th. Investors of record on Friday, June 30th were paid a dividend of $0.18 per share. This is an increase from Whole Foods Market’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, June 28th. This represents a $0.72 annualized dividend and a dividend yield of 1.73%. Whole Foods Market’s dividend payout ratio is presently 57.14%.
Whole Foods Market declared that its board has authorized a share buyback program on Wednesday, May 10th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Whole Foods Market from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research note on Thursday, May 11th. Zacks Investment Research raised shares of Whole Foods Market from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. BidaskClub raised shares of Whole Foods Market from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th. Vetr raised shares of Whole Foods Market from a “strong sell” rating to a “hold” rating and set a $42.27 target price on the stock in a research note on Monday, June 19th. Finally, Wolfe Research raised shares of Whole Foods Market from an “underperform” rating to a “market perform” rating in a research note on Tuesday, May 2nd. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.42.
In related news, insider Juan Nunez sold 14,502 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 5,746 shares of the company’s stock, valued at $158,129.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela Lorenzen sold 1,431 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 1,131 shares in the company, valued at approximately $41,100.54. The disclosure for this sale can be found here. Insiders have sold 18,466 shares of company stock worth $543,688 in the last three months. Insiders own 1.30% of the company’s stock.
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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