Amazon to Acquire Whole Foods Market

Moreover, the stock has soared more than 39% during the past 12 months. Taking into account the strategic initiatives, management expects to deliver positive comps and register earnings growth by fiscal 2018. The company now has a consensus rating of “Hold” and an average price target of $35.92. RBC Capital Markets maintained it with “Outperform” rating and $37 target in Thursday, November 5 report. SunTrust Banks, Inc. restated a buy rating on shares of Whole Foods Market in a research note on Tuesday, April 11th.

During the 52-week trading session the minimum price at which share price traded, registered at $65.97 and reached to max level of $96.88. BidaskClub raised Whole Foods Market from a “hold” rating to a “buy” rating in a research note on Tuesday, June 13th.

“This partnership presents an opportunity to maximize value for Whole Foods Market’s shareholders, while at the same time extending our mission and bringing the highest quality, experience, convenience and innovation to our customers”, said John Mackey, Whole Foods Market co-founder and CEO. 128,832,883 shares of the stock were exchanged.

Amazon agreed to pay $42 per share in cash for Whole Foods, a 27% premium on the Austin, Texas-based grocer’s closing share price on Thursday. The stock is up 38.75% in this year through last close, and the beta ratio has a value of 0.86. The 50 day moving average went up by +19.873% and the 200 day average went up $10.80 or +33.454%. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Whole Foods Market had a return on equity of 13.72% and a net margin of 2.54%. Its revenue totaled $3.73 billion down -24.25% from the previous quarter. IFP Advisors Inc now owns 17,547 shares of the company’s stock valued at $522,000 after buying an additional 6,044 shares during the last quarter.

WFM’s revenue has grown at an average annualized rate of about 9.2% during the past five years.

While taking a look at financials, we can look at a number of key indicators about Whole Foods Market, Inc.

The company’s shares fell the most in six weeks on the news, while the shares of merger partner Level 3 Communications Inc. also dropped sharply.

COPYRIGHT VIOLATION NOTICE: This news story was first published by Community Financial News and is the property of of Community Financial News. If you are reading this piece on another website, it was stolen and reposted in violation of US & global copyright and trademark law. Whole Foods Market’s payout ratio is 44.44%.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 11th. The ex-dividend date has been established as Wednesday the 5th of April 2017. The dividend yield will be $1.69. Including today’s unusual volume, Hecla Mining Company’s stock is performing at -3.44% on the year. Following the completion of the transaction, the insider now directly owns 5,746 shares in the company, valued at $158,129.92.

Jana, which disclosed an 8.3% stake in Whole Foods in April and is the company’s second biggest shareholder, stands to make roughly $300 million from the sale to Amazon. Insiders own 1.30% of the company’s stock. As of the latest earnings report the EPS was $1.26 and is estimated to be $1.31 for the current year with 319,564,000 shares now outstanding. Advisory Services Network LLC bought a new position in shares of Whole Foods Market during the first quarter worth about $105,000.

Before that, quarter ending December 2016, Whole Foods Market, Inc. also surprised analysts by beating the consensus estimate. AlphaOne also assigned media headlines about the company an impact score of 0 out of 100, indicating that recent press coverage is extremely unlikely to have an impact on the company’s share price in the near term.

Whole Foods Market, engaged in the business of natural and organic foods supermarket.