Whole Foods cutting 1500 jobs

The company has a market capitalization of $11.19 billion and a P/E ratio of 18.74.

Facing competitive prices in the natural and organic foods market from Wal-Mart Stores Inc. and Kroger Co., the company is launching a less-expensive chain, dubbed 365 by Whole Foods Market, next year in Los Angeles. New York City’s Department of Consumer Affairs said that Whole Foods stores were overstating the weight of a few of its’ pre-packaged foods, such as chicken tenders and a vegetable platter, according to the AP. Its shares are down about 38 percent so far this year. The business’s funds when it comes to the 1/4 appeared to be right up nine.0% in observation to the same billet only a year ago. Whole Foods Market, Inc. now has an average broker rating of 2.54. Investors of record on Friday, October 2nd will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, September 30th.

A number of other equities research analysts also recently weighed in on WFM.

Shares of Whole Foods Market (NASDAQ:WFM) opened at 30.75 on Monday. They issued a “neutral” rating and a $44.00 price target for the company. Finally, Deutsche Bank reaffirmed a “hold” rating on shares of Whole Foods Market in a research note on Thursday, June 4th. Whole Foods’ stock price rose $0.01 to $31.07 per share on Monday, up 0.03% from its previous close. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company now has a consensus rating of “Hold” and a consensus target price of $43.15.

We reached out to Whole Foods for comment and will update when we hear back.

Whole Foods, which dominates the natural and organic grocery category, faces increasing skyrocketing costs both from minimum wage increases and complying with new Obamacare regulations.

Company officials said numerous cuts are expected to be achieved through attrition – not filling jobs that workers vacate – and a few of the people whose jobs are eliminated could find work at other open positions or at one of the more than 100 new stores in development.

The company is doubling down on brand rehabilitation after recent accusations of overpricing. The Companys product selection includes grocery, meat, seafood, bakery, prepared foods and catering, coffee, tea, beer, wine, cheese, nutritional supplements, vitamins, body care, and lifestyle products including books, pet products, and household products.