Whole Foods Boosts Forecast as Q2 Earnings Beat View (WFM)

By Dividend.com, May 02, 2012, 04:48:05 PM EDT

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Natural foods grocer Whole Foods Market, Inc. ( WFM ) on Wednesday posted better-than-expected fiscal second quarter earnings results and lifted its full-year outlook.

The Austin, TX-based company reported fiscal second quarter net income of $118 million, or 64 cents per share, compared with $90 million, or 51 cents per share, in the year-ago period.

Sales climbed 14% to $2.7 billion.

On average, Wall Street analysts expected a smaller profit of 59 cents per share, on matching revenue of $2.7 billion.

Looking ahead, WFM raised its full-year 2012 earnings outlook to a range of $2.44 to $2.47 per share, up from a prior forecast of $2.28 to $2.32.

Whole Foods shares closed slightly higher in Wednesday trading.

The Bottom Line
Shares of Whole Foods ( WFM ) have a .66% dividend yield, based on last today's closing stock price of $84.37. The stock has technical support in the $78-$80 price area. The shares are trading right near 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.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing, Stocks

Referenced Stocks: WFM