I know that we rarely discuss stocks on this thread but....does anyone else own Whole Foods (WFMI)? When I first went "healthy," and then went veggie, my greatest delight was shopping at Whole Foods. To this day, when I walk into my store, I just say, "Ah!".
But the stock, when it first occurred to me to buy it, was in the 40's, was over-valued, over-priced, over-rated, so I didn't buy. Finally I got tired of watching the over-valued stock go up and up and I bought in the 70's. Of course, I was thrilled as it went into the 90's. I did sell at 95.99 when it crumpled, but bought back at 89.88 when it showed a little strength.
Today the company reported, slightly missing estimates, and warned of a slowing of future earnings growth. Of course, at closing 86.xx and PE of 43 it's still "over-valued," but it has been all along. Down to 81 in after-hours but who knows what that means...
My philosophy all along has been, 1) all I hear in both veggie and non-veggie cooking crowds is "do you have a Whole Foods?" "You don't? Oh, you poor thing. When are you going to get one?" and 2) Unless I'm there before 10:00 on a Saturday morning, I can't get a parking space in their LARGE parking lot. How many other supermarkets need to hire a detail cop before every possible holiday, including Thanksgiving, Christmas, Rosh Hashanah, and the Super Bowl?
I think I'm willing to hold for the long term on this, but I'd welcome any and all thoughts on WFMI.
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