Natural and organic foods supermarket chain operator Whole Foods
Market, Inc. (
) late Wednesday posted better-than-expected fiscal fourth quarter
earnings, but its 2012 forecast could fall short of analysts'
The Austin, TX-based company reported fiscal fourth quarter net
income of $75.5 million, or 42 cents per share, compared with $57.5
million, or 33 cents per share, in the year-ago period.
Revenue rose 12% from last year to $2.35 billion.
On average, Wall Street analysts expected a smaller profit of 41
cents per share, albeit on slightly higher revenue of $2.36
Looking ahead, the company forecast 2012 earnings of $2.21 to
$2.26 per share, on implied revenue of $11.4 billion to $11.6
billion. Analysts currently expect $2.26 per share on $11.6 billion
in revenue for the year.
Whole Foods shares fell $2.61, or -3.7%, in premarket trading
The Bottom Line
Shares of Whole Foods (
) have a .79% dividend yield, based on last night's closing stock
price of $70.56. The stock has technical support in the $63-$65
price area. If the stock can firm up, we see overhead resistance
around the all-time highs of $74-$75 a share.
Whole Foods Market, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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