Sandy Spring Bank Acquires 40,555 Shares of Whole Foods Market Inc. (WFM)
Sandy Spring Bank raised its position in shares of Whole Foods Market Inc. (NASDAQ:WFM) by 143.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 68,901 shares of the company’s stock after buying an additional 40,555 shares during the period. Sandy Spring Bank’s holdings in Whole Foods Market were worth $1,955,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. PGGM Investments purchased a new position in Whole Foods Market during the second quarter worth approximately $31,783,000. Trillium Asset Management LLC boosted its position in Whole Foods Market by 1.2% in the second quarter. Trillium Asset Management LLC now owns 413,157 shares of the company’s stock worth $13,229,000 after buying an additional 4,792 shares during the last quarter. Front Street Capital Management Inc. purchased a new position in Whole Foods Market during the second quarter worth approximately $11,602,000. Boston Advisors LLC boosted its position in Whole Foods Market by 978.3% in the second quarter. Boston Advisors LLC now owns 409,588 shares of the company’s stock worth $13,115,000 after buying an additional 371,605 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Whole Foods Market by 2,064.1% in the third quarter. Fisher Asset Management LLC now owns 374,606 shares of the company’s stock worth $10,620,000 after buying an additional 357,296 shares during the last quarter. 83.73% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Whole Foods Market Inc. (NASDAQ:WFM) traded down 1.07% during trading on Tuesday, hitting $30.61. The stock had a trading volume of 3,732,404 shares. The firm has a 50 day moving average of $29.45 and a 200 day moving average of $30.67. Whole Foods Market Inc. has a 1-year low of $27.67 and a 1-year high of $35.58. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 19.75 and a beta of 0.76.
Whole Foods Market (NASDAQ:WFM) last announced its earnings results on Wednesday, November 2nd. The company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.04. Whole Foods Market had a return on equity of 15.65% and a net margin of 3.22%. The company earned $3.50 billion during the quarter, compared to analyst estimates of $26.30 million. During the same period last year, the company posted $0.24 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Analysts expect that Whole Foods Market Inc. will post $1.45 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 24th. Stockholders of record on Friday, January 13th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, January 11th. This is a positive change from Whole Foods Market’s previous quarterly dividend of $0.14. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.83%. Whole Foods Market’s dividend payout ratio (DPR) is 34.84%.
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WFM has been the topic of several recent analyst reports. Vetr raised shares of Whole Foods Market from a “hold” rating to a “buy” rating and set a $31.97 price target on the stock in a report on Monday, August 29th. Credit Suisse Group AG set a $40.00 price target on shares of Whole Foods Market and gave the company a “buy” rating in a report on Wednesday, August 3rd. Barclays PLC initiated coverage on shares of Whole Foods Market in a report on Thursday, September 22nd. They issued an “equal weight” rating and a $30.00 price target on the stock. Finally, Zacks Investment Research raised shares of Whole Foods Market from a “sell” rating to a “hold” rating in a report on Wednesday, August 31st. Seven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. Whole Foods Market presently has a consensus rating of “Hold” and an average target price of $30.20.
In related news, Director Shahid M. Hassan sold 7,916 shares of Whole Foods Market stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $28.41, for a total value of $224,893.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeff Turnas sold 4,400 shares of Whole Foods Market stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $30.21, for a total value of $132,924.00. Following the completion of the sale, the insider now owns 6,792 shares of the company’s stock, valued at $205,186.32. The disclosure for this sale can be found here. 1.09% of the stock is owned by insiders.
About Whole Foods Market
Whole Foods Market, Inc is engaged in operating natural and organic foods supermarkets. The Company’s brands include Allegro Coffee, Whole Foods Market, Whole Paws and Engine 2 Plant-Strong. As of April 10, 2016, the Company operated 441 stores, which include 421 stores in 42 states in the United States and the District of Columbia, 11 stores in Canada, and 9 stores in the United Kingdom.
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