Whole Foods Is Going to Amazon, This Analyst Says
Amazon agreed to purchase Whole Foods in June for $42 per share.

Whole Foods Market (WFM) was downgraded on Monday by Tigress Financial over the lack of future rival bids for the health food grocer, which reached an agreement two months ago to sell itself to Amazon.com (AMZN) for $13.58 billion, or $42 per share.

Tigress analyst Ivan Feinseth lowered his rating on Whole Foods' stock to "Neutral" from "Buy." Shares were moving lower in afternoon trading on Monday to about $41.79 per share.  

"On June 16, 2017, WFM agreed to be acquired by Amazon.com (AMZN-US, Buy rate) for a total value of $13.58 billion or $42.00 a share in cash, which represents a 20% premium to the share price prior to the announcement," Feinseth noted. "Due to the friendly nature of the transaction, and the price at about our fair value calculation, we see no other bids emerging and the transaction is scheduled to close by the end of this year."

More of What's Trending on TheStreet:

More from Stocks

Nvidia, Applied Materials, SpaceX and PG&E - 5 Things You Must Know

Nvidia, Applied Materials, SpaceX and PG&E - 5 Things You Must Know

Nvidia Tumbles on Soft Guidance: 5 Key Takeaways

Nvidia Tumbles on Soft Guidance: 5 Key Takeaways

Walmart Stock Slips as Market Anxiety Stymies Earnings Day Pop

Walmart Stock Slips as Market Anxiety Stymies Earnings Day Pop

Jim Cramer Correctly Predicted Nvidia's Earnings Miss Back in October

Jim Cramer Correctly Predicted Nvidia's Earnings Miss Back in October

Icahn Ends Battle With Michael Dell

Icahn Ends Battle With Michael Dell