Whole Foods: S&P Intraday Gainer
The S&P 500 was falling almost 6 points to 1,396.44.
Shares of Whole Foods rose 6.86% to $90.09. The food retailer reported second-quarter earnings Wednesday of $117.7 million, or 64 cents a share, up from year-earlier earnings of $89.9 million, or 51 cents.
Whole Foods also raised its fiscal 2012 outlook Wednesday with sales expected to rise between 14.8% and 15.6% from previous guidance of between 13.5% to 15%. Earnings per share guidance was also raised to between $2.44 a share and $2.47 a share, up from prior estimates of between $2.28 a share and $2.32 a share.Shares of Whole Foods hit a 52-week high Thursday of $90. The stock's 52-week low of $53.32 was set on Aug. 9. Whole Foods trades at an estimated price-to-earnings ratio for next year of 32.24 times; the average for food retailers and wholesalers is 15.09. For comparison, SuperValu (SVU) has a lower forward P/E of 4.16. Fourteen of the 25 analysts who cover Whole Foods rated it buy. Ten analysts gave the stock a hold rating and one rated it sell. The stock has risen 29.39% year to date. -- Written by Alexandra Zendrian
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