Finally, Whole Foods continued increasing shareholders’ slice of the pie by repurchasing $26 million in stock during the quarter, and its balance sheet remains solid with $1.2 billion in cash and equivalents and no debt as of the end of the quarter, even after spending $371 million in December to fund its $2-per-share special dividend.
In the end, Whole Foods’ business remains healthy as ever and should be more than enough to satisfy the heartiest of appetites for substantial profits down the road. Patient long-term investors, then, should view the market’s knee-jerk reaction as a fantastic opportunity to buy.
The article Did Weak Guidance Spoil Whole Foods? originally appeared on Fool.com and is written by Steve Symington.
Fool contributor Steve Symington has no position in any stocks mentioned. The Motley Fool recommends Costco Wholesale and Whole Foods Market (NASDAQ:WFM). The Motley Fool owns shares of Costco Wholesale and Whole Foods Market.
Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.