WFMI Whole Foods Market, Inc. (MM)

59.95

0.00 (0.00%)

31 May 2024 - Closed

Delayed by 15 minutes

Share Name	Share Symbol	Market	Type
Whole Foods Market, Inc. (MM)	NASDAQ:WFMI	NASDAQ	Common Stock

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.00	0.00%	59.95						0	01:00:00

Whole Foods Market (WFM) - Bull of the Day

04/08/2011 1:00am

Zacks

Whole Foods Market's (WFM) third-quarter 2011 earnings of $0.50 per share beat the Zacks Consensus Estimate of $0.48, and rose 31.6% from the prior-year quarter on the heels of strong sales as shoppers flocked the grocery chain for natural and organic products. The company is revamping its pricing strategy and concentrating more on value offerings, while maintaining healthy margins.

Cost containment efforts, effective inventory management, and improved store-level performance are driving earnings growth. In the wake of better-than-expected results, the company raised its fiscal 2011 outlook, and now expects sales growth in a band of 12.2% to 12.4% and bottom-line increase of 34%.

Moreover, a prudent capital investment is also translating into improved cash flows with a lower debt level and healthy balance sheet. We have a long-term Outperform recommendation on the stock. Our target price of $73.00, 38.0X 2011 EPS, reflects this view.

Zacks Investment Research