Whole Foods shakes up board as key sales figure falls again

Whole Foods is shaking up management once again. The health food grocer is getting a new chief financial officer chairman and replacing five board members. Whole Foods stock popped 2.2% on the news

Morgan Stanley raised its position in Whole Foods Market by 85.8% in the third quarter. Meanwhile, due to a recent pullback which led to a fall of nearly -18.94% in the past one month, the stock price is now with underperforming -19.31% so far on the year - still in weak zone. Traditional grocery stores were offering organic choices, but not almost as well-stocked as Whole Foods Market is. Following the transaction, the director now directly owns 66,109 shares in the company, valued at $2,011,035.78. Whole Foods Market now has a consensus rating of "Hold" and a consensus target price of $32.74. (NASDAQ:WFM) declared a quarterly dividend on Thursday, May 11th. Earnings, with 23 analysts believing the company would generate an Average Estimate of $0.37. The stock has a 50 day moving average of $33.45 and a 200-day moving average of $31.18.

Whole Foods Market, Inc. has a 12-month low of $27.67 and a 12-month high of $38.29. Moreover, it introduced a new "uniquely-branded store concept", "365 by Whole Foods Market". Stock traders bought 758 put options on the stock.

Whole Foods Market, which just announced its seventh straight quarter of declining results, says it is replacing half its board members and elevating Gabrielle Sulzberger as the new chairman.

The company posted adjusted earnings of 37 cents per share on $3.74 billion in revenue. Whole Foods has blamed its struggles on customers increasingly turning to "good enough alternatives".

The company on Wednesday announced a major overhaul of its board, the second recent sign it is finally taking years of criticism and advice to heart.

The current Zacks Consensus Estimate for the quarter under review has been stable in the last 30 days, and is now pegged at 37 cents, down from 44 cents reported in the year-ago quarter. The old board was the same that provided guidance in 2014 for EBITDA of $2.2 billion by full-year 2018, which Barclays predicts will only come to $1.34 billion, 40 percent lower than the plan.

Sell-side analysts also have something to say about this company. Shareholders of record on Friday, April 7th were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, April 5th.

The stock now has its Annual Dividend of $0.56 and an annual Dividend Yield of 1.52 Percent. "(WFM)" was originally published by Transcript Daily and is owned by of Transcript Daily. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and global trademark & copyright law.

According to Sulzberger, Whole Foods was not contacted by Jana prior to the April 10 filing but afterward held discussions with them and even identified two of Jana's nominees it was prepared to add to a new board.

Other research analysts have also recently issued research reports about the company.

5/9/2017-Gordon Haskett initiated coverage with a Buy rating. They set a "buy" rating and a $42.00 target price on the stock.

Although Whole Foods reported in-line earnings during the first quarter of fiscal 2017, it failed to contain the decline in the bottom line. This is because a stock needs to have both a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) and a positive Earnings ESP for this to happen. Currently, the stock has a 1 Year Price Target of $30.2.

Whole Foods is seeking to stave off a looming battle with Jana, which announced an 8.3 percent stake in the supermarket chain last month and vowed to push for changes - including a possible sale of the business. Following the transaction, the chief financial officer now directly owns 219,372 shares in the company, valued at approximately $6,861,956.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

WFM's revenue has grown at an average annualized rate of about 9.2% during the past five years. The stock was sold at an average price of $30.42, for a total value of $136,890.00. Seven Bridges Advisors LLC now owns 5,331 shares of the company's stock worth $151,000 after buying an additional 1,900 shares during the period.

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