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• WFM 75% Rate It

Natural and organic foods supermarket chain Whole Foods Market, Inc. ( WFM ) late Wednesday received some bullish commentary from analysts at Wells Fargo.

The firm started coverage on WFM with an "Outperform" rating and $111.50 price target, suggesting a 15% upside to the stock's Wednesday closing price of $97.00.

A Wells Fargo analyst commented, "We believe Whole Foods is one of the best sustainable growth stores in retail, with sales growth likely to not only continue but accelerate given: (1) strong demand trends from the increasing adoption of natural and organic foods, (2) Whole Foods' efforts to lower prices, which we found to be the key impediment to organic purchases; and (3) ramping new store growth. 89% of those we surveyed said they don't shop at Whole Foods because there isn't a store nearby (59%) or prices are too high (30%) and the company is implementing strategies to address both of these barriers."

Whole Foods shares rose 94 cents, or +1%, in premarket trading Thursday.

The Bottom Line
Shares of Whole Foods ( WFM ) have a .58% dividend yield, based on last night's closing stock price of $97.00. The stock has technical support in the $90 price area. The shares are trading at all-time highs.

Whole Foods Market, Inc. ( WFM ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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