Company Update (NASDAQ:WFM): Whole Foods in settlement in New York City overcharging probe

[Reuters] – Whole Foods Market Inc has agreed to pay $500,000 and implement new policies and procedures to resolve an investigation into whether the retailer charged too much for some prepackaged foods at its New … Read more on this. Whole Foods Market, Inc. (WFM) , with a current value of $11.67B, started trading this morning at $34.25. Today’s price range has been between $34.04 and $34.60 per share with a one year range of $28.73 to $57.57. Priced at 22.40x this year’s forecasted earnings, WFM shares are relatively expensive compared to the industry’s 16.68x forward p/e ratio. And for income investors, the company pays shareholders $0.54 per share annually in dividends, yielding 1.57%. Consensus earnings for the current quarter by the 28 sell-side analysts covering the stock is an estimate of $0.40 per share, which would be $0.06 worse than the year-ago quarter and a $0.09 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.54 would be a $0.07 worse when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $4.82 Billion. If reported, that would be a 3.21% increase over the year-ago quarter. More recently, Pivotal Research Group Initiated WFM at Sell (Aug 14, 2015). Previously, Canaccord Genuity downgraded WFM from Buy to Hold. Investors should keep in mind is that the average price target is $30.31, which is 11.50% below where the stock opened this morning. See more in (NASDAQ:WFM) Similar Articles: Stock Update: Whole Foods Market Inc (NASDAQ:WFM) – GPM Reminds Whole Foods Market, Inc. Investors Of the October 5th Deadline Company Update: Whole Foods Market Inc (NASDAQ:WFM) – SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders With Losses on Their Investment in Whole Foods Market, Inc. of Class Action Lawsuit and Upcoming Deadline — WFM Stock Update (NASDAQ:WFM): Whole Foods owns up overcharging of packaged goods