Whole Foods Market, Inc. (NASDAQ:WFM) Position Cut by Korea Investment CORP
Korea Investment CORP cut its stake in shares of Whole Foods Market, Inc. (NASDAQ:WFM) by 26.3% during the second quarter, Holdings Channel reports. The institutional investor owned 217,055 shares of the company’s stock after selling 77,368 shares during the period. Korea Investment CORP’s holdings in Whole Foods Market were worth $9,140,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in WFM. Advisory Services Network LLC purchased a new position in Whole Foods Market during the first quarter valued at approximately $105,000. Westside Investment Management Inc. raised its position 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 in the last quarter. Winslow Evans & Crocker Inc. raised its position 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 in the last quarter. Pacer Advisors Inc. raised its position 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 in the last quarter. Finally, Baldwin Brothers Inc. MA purchased a new position in Whole Foods Market during the second quarter valued at approximately $190,000. 87.89% of the stock is currently owned by hedge funds and other institutional investors.
Whole Foods Market, Inc. (WFM) opened at 41.85 on Thursday. The stock has a 50 day moving average of $42.03 and a 200-day moving average of $35.19. Whole Foods Market, Inc. has a 12 month low of $27.67 and a 12 month high of $43.84. The firm has a market cap of $13.40 billion, a P/E ratio of 34.47 and a beta of 0.82.
Whole Foods Market (NASDAQ:WFM) last issued its earnings results on Wednesday, July 26th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. Whole Foods Market had a net margin of 2.44% and a return on equity of 13.26%. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter last year, the business earned $0.37 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Equities research analysts predict that Whole Foods Market, Inc. will post $1.34 earnings per share for the current fiscal year.
Whole Foods Market declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 10th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the company to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.
Several research firms have commented on WFM. 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 report on Thursday, May 11th. Zacks Investment Research raised shares of Whole Foods Market from a “sell” rating to a “hold” rating in a report on Friday, May 12th. BidaskClub raised shares of Whole Foods Market from a “hold” rating to a “buy” rating in a report 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 price target on the stock in a report on Monday, June 19th. Finally, Tigress Financial lowered shares of Whole Foods Market from a “buy” rating to a “neutral” rating in a report on Monday. Four research analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have assigned a buy rating to the stock. Whole Foods Market has an average rating of “Hold” and a consensus price target of $38.06.
In other Whole Foods Market news, insider Juan Nunez sold 14,502 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $27.52, for a total transaction of $399,095.04. Following the completion of 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 firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $36.34, for a total value of $52,002.54. Following the transaction, the insider now directly owns 1,131 shares of the company’s stock, valued at approximately $41,100.54. The disclosure for this sale can be found here. Insiders sold 18,466 shares of company stock worth $543,688 in the last 90 days. Company 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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