RBC Capital Believes Whole Foods (NASDAQ: WFM) Still Has Room to Grow

By Austin Angelo

RBC Capital analyst William Kirk reiterated a Buy rating on Whole Foods (NASDAQ: WFM) today and set a price target of $42. The company’s shares closed on Friday at $41.99, close to its 52-week high of $43.84.

According to TipRanks.com, Kirk is ranked 0 out of 5 stars with an average return of -6.1% and a 34.5% success rate. Kirk covers the Services sector, focusing on stocks such as Performance Food Group, US Food Holdings Corp, and United Natural Foods.

Whole Foods has an analyst consensus of Hold, with a price target consensus of $42.

Based on Whole Foods’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.73 billion and quarterly net profit of $106 million. In comparison, last year the company earned revenue of $3.7 billion and had a net profit of $120 million.

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Whole Foods Market, Inc. engages in the retailing business of natural and organic foods. It operates a chain of natural and organic foods supermarkets in the United States, Canada, and the United Kingdom. The company’s products include beverages, body care, snacks, frozen, pantry staples, supplements and gift baskets and also eco-scaling cleaning products.