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A Whole Foods Market stockholder is reported to have met with activist funds to plan a push for changes or a possible sale, according to Bloomberg, after holder lost patience with the company's direction.
The stock was paused momentarily Friday for volatility, but reopened shortly after and gained as much as 5 percent on the day. Whole Foods shares later pared those gains, but still ended the day 2 percent higher.
A Whole Foods spokesperson told CNBC the company values the "strong and open relationship" it has with its shareholders.
"As discussed on this week's earnings call, we are focused on pursuing the right strategies to position the company to produce strong results and returns for our shareholders over the long term, " the spokesperson said.
—CNBC's Ryan Ruggiero contributed to this report.
This story is developing. Please check back for further updates.