NEW YORK ( TheStreet) - Warren Buffett once said "Price is what you pay, value is what you get." While I understand "the Oracle" was referring to individual stocks, I've recently realized that this maxim is especially true while shopping at stores such as Whole Foods ( WFM), a company that has been given the nickname "Whole Paycheck" due largely to its premium prices.Nonetheless, amid a sluggish economy that has hurt food stocks such as Chipotle Mexican Grill ( CMG), Whole Foods continues to enjoy a stock valuation that presumes growth will continue for the next 10 years. Is it still a good bet?
As a consequence, the company is seeing current comps in the areas of 7% -- much lower than the 8% to 9% investors had become accustomed to. With that in mind, the company is forecasting fiscal 2013 earnings of $2.88 to $2.87 per share -- falling short of analysts' estimates of $2.91. On the news, the stock fell almost 5%, which has cause me to wonder if the stock is now "food for thought" or still expensive particularly due to its P/E of 36.