NEW YORK (TheStreet) -- Shares of Whole Foods Market (WFM)  are falling 3.98% to $32.30 in after-hours trading after the company reported disappointing 2016 third quarter revenue after the market close.

Whole Foods reported earnings of 37 cents per diluted share and revenue of $3.7 billion for the quarter.

Analysts were looking for the company to report earnings of 37 cents on revenue of $3.73 billion.

"We are continuing to make measurable progress on fundamentally evolving our business including the successful launch of our new 365 format, expanded value investments, and increased efforts to better understand and provide personalized offers to our customers," said CEO Walter Robb.

For the 2016 fourth quarter, the company expects same-store sales to follow a 2.4% quarter-to-date declining trend. Whole Foods also expects diluted earnings of 23 cents-24 cents per share for the quarter.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rated this stock as a "hold" with a ratings score of C.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, TheStreet Ratings finds weaknesses including a generally disappointing performance in the stock itself and deteriorating net income.

You can view the full analysis from the report here: WFM

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