Upgrades and new coverage will push this over $8. The management is outstanding, and all the metrics point towards a brighter future. Even though I don't enjoy the products, or even think it's healthy, a diet of 5k in shares would make sure that I could continue to patronized Whole Foods, another favorite stock in my portfolio. Illogical pairing, but profitable.
Why anyone would buy in Whole foods, particularly in such a sick economy, is a mystery to me. Way overpriced on everything, including many of the same items that can be bought in other stores for much less. IMHO the whole "organic foods" craze is largely non-scientific whoo-ha. But as long a they can get a lot of people to keep believing in a myth, they should make a lot of $. And so the stock continues do well. Worth a 35 PE, not to me, but hey, each to his own.
I do agree with you on some points, but you have to be a smart shopper. In my location, there a WF store with a wine bar that serves up a 12oz prime steak with a glass from a $40 a bottle cabernet. They only charge $10 for this duo. Along with free 2oz samples of great wine, with a pepper sauce over the steak. Like you say, to each their own.