Whole Foods Sells Off After Results
Whole Foods (WFMI) was down 6.5% in after-hours trading at $56.20, but that is in addition to the 4.8% drop to $60.12 in normal daily trading.
It met earnings expectations at $0.29 EPS, but the $1.3 Billion in revenues was a tad under the $1.32 Billion estimate. The company did hike its dividend 20% to $0.18 per quarter. It is targeting 13% to 17% sales growth in 2007, but looking for comparable sales at current locations to be the 6% to 8% range.
The company usually has to outperform estimates and raise guidance to impress traders. That is because of the high-beta and teh 50 P/E ratio. WFMI has a market cap as of the close of $8.5 Billion; and its 52-week trading range is $46.91 to $79.90.
It met earnings expectations at $0.29 EPS, but the $1.3 Billion in revenues was a tad under the $1.32 Billion estimate. The company did hike its dividend 20% to $0.18 per quarter. It is targeting 13% to 17% sales growth in 2007, but looking for comparable sales at current locations to be the 6% to 8% range.
The company usually has to outperform estimates and raise guidance to impress traders. That is because of the high-beta and teh 50 P/E ratio. WFMI has a market cap as of the close of $8.5 Billion; and its 52-week trading range is $46.91 to $79.90.
posted by douglas mcintyre at 4:20 AM
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