NEW YORK (TheStreet) -- Whole Foods Market (WFM) shares are up 0.56% to $39.17 after the grocer reached an $800,000 settlement with the State of California after a statewide investigation revealed widespread pricing violations.
Whole Foods cooperated with the investigation which revealed that stores were charging more than the listed price on its products.
Asas a part of the settlement, the 74 stores located in the state will be required to rectify the issue
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TheStreet Ratings team rates WHOLE FOODS MARKET INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate WHOLE FOODS MARKET INC (WFM) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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 expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."