Whole Foods Market Up 12.1% After Hitting 52-Week High (WFMI)

Shares of Austin, Texas-based Whole Foods Market, Inc. WFMI are trading up 12.1% at $60.27 per share during the Thursday afternoon trading session. The day's trading range for shares of Whole Foods Market, Inc has been between $58.49 and a 52-week high of $60.94 per share. Analysts covering the company's stock give it a consensus price target of $50.88 per share. Volume of 7.7 million shares is far above the daily average volume of 1.8 million shares. Whole Foods Market, Inc. (WFMI) announced after the market closed on Wednesday that it beat consensus Wall Street expectations. Whole Foods Market, Inc announced 1st quarter earnings per share of 51 cents, on revenue that rose 14% to $3.0 billion. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 46 cents per share, on revenue of $2.99 billion. Co-chief executive officer Walter Robb said, "Our identical store sales growth continued to gain momentum for the fifth consecutive quarter on both a one- and two-year basis and at 9.1% is the highest we have produced in over four years. Based on our consistently strong top- and bottom-line results, along with ongoing signs of increasing consumer confidence, we are raising our sales and earnings outlook for the year. Our new range for identical store sales growth of 7% to 9% appropriately reflects that we have yet to cycle over our toughest comparisons, while also allowing for the possibility that our 9% year-to-date results could be sustainable especially given the likelihood of some positive impact from inflation." Whole Foods Market, Inc is the leading natural and organic foods supermarket, and America's first national certified organic grocer. Read more from Benzinga's Company news.