Whole Foods Q4 Profit Beats, but Forecast Somewhat Weak (WFM)

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Natural and organic foods supermarket chain operator Whole Foods Market, Inc. ( WFM ) late Wednesday posted better-than-expected fiscal fourth quarter earnings, but its 2012 forecast could fall short of analysts' view.

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 billion.

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 Thursday.

The Bottom Line
Shares of Whole Foods ( WFM ) 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. ( 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.

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