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Whole Foods Q2 Profit Beats View; Outlook Raised; Shares Surge Higher (WFM)

By Dividend.com,  July 25, 2012, 04:54:04 PM EDT

Natural foods supermarket chain operator Whole Foods Market, Inc ( WFM ) late Wednesday posted better-than-expected second quarter earnings results and lifted its full-year forecast, sending its shares higher in aftermarket trading.

The Austin, TX-based company reported second quarter net income of $116.8 million, or 63 cents per share, compared with $88.5 million, or 50 cents per share, in the year-ago period.

Revenue jumped 14% from last year to $2.7 billion.

On average, Wall Street analysts expected a smaller profit of 61 cents per share.

Looking ahead, WFM said it now expects full-year earnings to range from $2.51 to $2.52 per share, up from a prior outlook of $2.44 to $2.47.

Whole Foods shares rose $8.63, or +10.2%, in aftermarket trading Wednesday.

The Bottom Line
Shares of Whole Foods ( WFM ) have a .66% dividend yield, based on today's closing stock price of $84.53. The stock has technical support in the $80-$85 price area. The stock is trading 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.

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




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



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