WHOLE FOODS MARKET INC
SC 13D/A, 1997-08-26
GROCERY STORES
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<PAGE>
 
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                  SCHEDULE 13D
                   UNDER THE SECURITIES EXCHANGE ACT OF 1934
                                AMENDMENT NO. 3

                            Whole Foods Market, Inc.
                   -----------------------------------------
                                (Name of Issuer)


                                        
                           Common Stock, no par value
                   -----------------------------------------
                        (Title of Class of Securities)

                                        
                                   966837106
                   -----------------------------------------
                                 (CUSIP Number)



                            David J. Greenwald, Esq.
                              Goldman, Sachs & Co.
                                85 Broad Street
                            New York, New York 10004
                                 (212) 902-1000
                      ----------------------------------
            (Name, address and telephone number of person authorized
                     to receive notices and communications)


                               August 21, 1997
                   -----------------------------------------
            (Date of Event which requires Filing of this Statement)


If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b) (3) or (4), check the following box:  ______



<PAGE>
 
- -----------------------
CUSIP NO.
966837106
- -----------------

- --------------------------------------------------------------------------------
1.  Name of Reporting Person
    S.S. or  I.R.S. Identification No. of  Above Person

     Goldman, Sachs & Co.
- --------------------------------------------------------------------------------
2.  Check the Appropriate Box if a Member of a Group
                                                     (a)  
                                                         ----
                                                     (b) _____
- --------------------------------------------------------------------------------
3.  SEC Use Only

- --------------------------------------------------------------------------------
4.  Source of Funds

            WC;00
- --------------------------------------------------------------------------------
5.  Check Box if Disclosure of Legal Proceedings is Required
     Pursuant to Items 2(d) or 2(e)                 X
                                                ----------
- --------------------------------------------------------------------------------
6.  Citizenship or place of Organization
 
        New York
- --------------------------------------------------------------------------------
Number of       7  Sole Voting Power
Shares
Beneficially             -0-
Owned By        ----------------------------
Each            8  Shared Voting Power
Reporting             1,076,023
Person With     ----------------------------
                9  Sole Dispositive Power
                        
                         -0-
                ----------------------------
                10  Shared Dispositive Power
                      1,076,023
                ----------------------------
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
                      1,076,023
- ----------------------------------------------------------------- 
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
                                                                        _______
- ----------------------------------------------------------------- 
13.  Percent of Class Represented by Amount in Row (11)
                       5.5%
- -----------------------------------------------------------------  
14.  Type of Reporting Person

              BD-PN-IA
- -------------------------------------------------------------------------

                                     Page 2


<PAGE>
 
- -----------------------
CUSIP NO.
966837106
- -----------------

- --------------------------------------------------------------------------------
1.  Name of Reporting Person
    S.S. or  I.R.S. Identification No. of  Above Person

     The Goldman Sachs Group, L.P.
- --------------------------------------------------------------------------------
2.  Check the Appropriate Box if a Member of a Group
                                                     (a)  
                                                         ----
                                                     (b) _____
- --------------------------------------------------------------------------------
3.  SEC Use Only

- --------------------------------------------------------------------------------
4.  Source of Funds

                              AF:00
- --------------------------------------------------------------------------------
5.  Check Box if Disclosure of Legal Proceedings is Required
     Pursuant to Items 2(d) or 2(e)
                                                 -----------
- --------------------------------------------------------------------------------
6.  Citizenship or place of Organization
 
        Delaware
- --------------------------------------------------------------------------------
Number of       7  Sole Voting Power
Shares                   8,328
Beneficially    ----------------------------
Owned By        8  Shared Voting Power      
Each                   1,076,023
Reporting       ----------------------------
Person With     9  Sole Dispositive Power   
                         8,328
                ----------------------------
                10  Shared Dispositive Power 
                       1,076,023
                ----------------------------
11.  Aggregate Amount Beneficially Owned by Each Reporting Person

                       1,084,351
- -----------------------------------------------------------------
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
                                                                        _______
- -----------------------------------------------------------------
13.  Percent of Class Represented by Amount in Row (11)
                           5.5%
- ----------------------------------------------------------------- 
14.  Type of Reporting Person

              HC-PN
- ----------------------------------------------------------------------

                                     Page 3


<PAGE>
 
_____________________
CUSIP NO.
966837106
- -----------------

- --------------------------------------------------------------------------------
1.  Name of Reporting Person
    S.S. or  I.R.S. Identification No. of  Above Person

     GS Advisors, L.P.
- --------------------------------------------------------------------------------
2.  Check the Appropriate Box if a Member of a Group
                                                     (a)  
                                                         ----
                                                     (b) 
                                                         ----
- --------------------------------------------------------------------------------
3.  SEC Use Only

- --------------------------------------------------------------------------------
4.  Source of Funds

                               AF
- --------------------------------------------------------------------------------
5.  Check Box if Disclosure of Legal Proceedings is Required
     Pursuant to Items 2(d) or 2(e)
                                                -----------
- --------------------------------------------------------------------------------
6.  Citizenship or place of Organization
 
        Delaware
- --------------------------------------------------------------------------------
Number of       7  Sole Voting Power
Shares
Beneficially             -0-
Owned By        ---------------------------- 
Each            8  Shared Voting Power 
Reporting              921,540
Person With     ---------------------------- 
                9  Sole Dispositive Power 

                         -0-
                ---------------------------- 
                10  Shared Dispositive Power
                       921,540 
                ---------------------------- 
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
                       921,540 
- -----------------------------------------------------------------  
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
                                                                        _______
- -----------------------------------------------------------------  
13.  Percent of Class Represented by Amount in Row (11)
                          4.7%
- -----------------------------------------------------------------   
14.  Type of Reporting Person

              PN
- -----------------------------------------------------------------  

                                     Page 4
<PAGE>
 
- ----------------------
CUSIP NO.
966837106
- -----------------

- --------------------------------------------------------------------------------
1.  Name of Reporting Person
    S.S. or I.R.S. Identification No. of Above Person

     GS Capital Partners, L.P.
- --------------------------------------------------------------------------------
2.  Check the Appropriate Box if a Member of a Group

                                                     (a) 
                                                         ----
                                                     (b) 
                                                         ----
- --------------------------------------------------------------------------------
3.  SEC Use Only

- --------------------------------------------------------------------------------
4.  Source of Funds

                             WC    
- --------------------------------------------------------------------------------
5.  Check Box if Disclosure of Legal Proceedings is Required
     Pursuant to Items 2(d) or 2(e)
                                                ---------
- --------------------------------------------------------------------------------
6.  Citizenship or place of Organization
 
        Delaware
- --------------------------------------------------------------------------------
Number of       7  Sole Voting Power
Shares
Beneficially             -0-
Owned By        ---------------------------- 
Each            8  Shared Voting Power      
Reporting             921,540
Person With     ----------------------------                             
                9  Sole Dispositive Power   
                                            
                          -0-                                            
                ---------------------------- 
                10  Shared Dispositive Power 
                      921,540
                ---------------------------- 
11.  Aggregate Amount Beneficially Owned by Each Reporting Person
                      921,540
- ----------------------------------------------------------------- 
12.  Check if the Aggregate Amount in Row (11) Excludes Certain Shares
                                                                        ________
- ----------------------------------------------------------------- 
13.  Percent of Class Represented by Amount in Row (11)
                      4.7%
- ----------------------------------------------------------------- 
14.  Type of Reporting Person

         PN
- ----------------------------------------------------------------- 

                                     Page 5


<PAGE>
 
                              AMENDMENT NO. 3 TO
                                 SCHEDULE 13D
                         RELATING TO THE COMMON STOCK
                          OF WHOLE FOODS MARKET, INC.

          GS Capital Partners, L.P. ("GS Capital"), GS Advisors, L.P. ("GS
Advisors, L.P."), Goldman, Sachs & Co. ("Goldman Sachs") and The Goldman Sachs
Group, L.P. ("GS Group", and together with GS Capital, GS Advisors, L.P. and
Goldman Sachs, the "Filing Persons")/1/ hereby amend this statement on Schedule
13D filed with respect to the Common Stock, no par value per share (the "Common
Stock") of Whole Foods Market, Inc., a Texas corporation (the "Company").
Goldman Sachs and GS Group may be deemed, for purposes of this Statement, to own
beneficially shares of Common Stock through the Limited Partnerships. Goldman
Sachs and GS Group each disclaims beneficial ownership of shares of Common Stock
beneficially owned by the Limited Partnerships to the extent of partnership
interests in the Limited Partnerships held by persons other than Goldman Sachs,
GS Group or their affiliates. In addition, GS Group beneficially owns options to
purchase shares of Common Stock, and Goldman Sachs and GS Group may be

/1/ Neither the present filing nor anything contained herein shall be construed
as an admission that any Filing Person constitutes a "person" for any purpose
other than Section 13(d) of the Securities Exchange Act of 1934.

        


                                    Page 6
                                       

<PAGE>
 
deemed to beneficially own shares of Common Stock held in client accounts
managed by Goldman Sachs ("Managed Accounts"). Goldman Sachs and GS Group
disclaim beneficial ownership of the shares of Common Stock held in Managed
Accounts. In addition, Goldman Sachs may from time to time acquire shares of 
Common Stock in ordinary course trading activities.







                                    Page 7
                                       

<PAGE>
 
Item 5 is hereby amended as follows:

ITEM 5.  INTEREST IN SECURITIES OF THE ISSUER

             (a) As of August 22, 1997, GS Capital beneficially owned, and GS
Advisors, L.P. may be deemed to beneficially own, 921,540 shares of Common
Stock, representing approximately 4.7% of the shares of Common Stock
outstanding, and the Other Limited Partnerships in the aggregate beneficially
owned 151,963 shares of Common Stock, representing approximately 0.8% of the
shares of Common Stock reported to be outstanding as of July 6, 1997 (as
reported in the Company's Quarterly Report on Form 10-Q for the period ended
July 6, 1997).

             As of August 22, 1997, Goldman Sachs may be deemed to beneficially
own an aggregate of 1,076,023 shares of Common Stock, including 1,073,503 shares
of Common Stock beneficially owned by the Limited Partnerships and 2,520 shares
of Common Stock held in Managed Accounts, representing in the aggregate
approximately 5.5% of the shares of Common Stock reported to be outstanding as
of July 6, 1997 (as reported in the Company's Quarterly Report on Form 10-Q for
the period ended July 6, 1997).

             As of August 22, 1997, GS Group may be deemed to beneficially own
an aggregate of 1,084,351 shares of Common Stock, including the 1,076,023 shares
of Common Stock which may be deemed to be beneficially owned by Goldman Sachs
and 8,328 shares of Common Stock subject to options owned by GS Group that are
currently exercisable, representing in the aggregate approximately 5.5% of the
shares of Common Stock reported to be outstanding as of July 6, 1997 (as
reported in the Company's Quarterly Report on Form 10-Q for the period ended
July 6, 1997).

             GS Group and Goldman Sachs disclaim beneficial ownership of (i) the
shares of Common Stock beneficially owned by the Limited Partnerships to the
extent of partnership interests in the Limited Partnerships held by persons
other than GS Group, Goldman Sachs or their affiliates and (ii) shares of Common
Stock held in Managed Accounts.


                                    Page 8 

                                       
<PAGE>
 
          None of the Filing Persons and, to the knowledge of each of the Filing
Persons, none of the Limited Partnerships that is not a Filing Person and none
of the persons listed in Schedule I or II hereto beneficially owned any shares
of Common Stock as of August 22, 1997 other than as set forth herein.

          (b) Each Filing Person shares the power to vote or direct the vote and
to dispose or direct the disposition of shares of Common Stock beneficially
owned by such Filing Person as indicated in the 2nd through 5th pages of this 
filing.  Each of the Limited Partnerships that is not a Filing Person shares the
power to vote or direct the vote and to dispose or direct the disposition of all
of the shares of Common Stock beneficially owned by such Limited Partnerships.

          (c) Schedule IV sets forth transactions in the Common Stock which have
been effected during the period since the most recent filing, July 19, 1997
through August 22, 1997. Except as set forth on Schedule IV, no transactions in
the Common Stock were effected by the Filing Persons, or, to the knowledge of
any of the Filing Persons, any of the Limited Partnerships that is not a Filing
Person or any of the persons listed on Schedules I or II hereto, during such
period. The transactions in the Common Stock described in Schedule IV were
effected by Goldman Sachs or the Limited Partnerships in the over the counter
market directly with a market maker in the Common Stock or in the NASDAQ
National Market.

          (d) Clients of Goldman Sachs have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of any 
shares of Common Stock held in Managed Accounts.

          (e) As of August 21, 1997, each of GS Capital and GS Advisors, L.P. 
ceased to be the beneficial owner of more than five percent of the Common Stock.

                                    Page 9
<PAGE>
 
                                 SIGNATURE
                                 ---------


          After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth is true, complete and correct.

Dated:  August 26, 1997  



                                    GOLDMAN, SACHS & CO.

                                    By:/s/ Richard A. Friedman
                                       ---------------------------------------- 
                                    Name:  Richard A. Friedman
                                    Title: Managing Director


                                    THE GOLDMAN SACHS GROUP, L.P.
                                    By: The Goldman Sachs Corporation, its 
                                        general partner

                                    By: /s/ Richard A. Friedman
                                       -----------------------------------------
                                    Name:  Richard A. Friedman
                                    Title: Executive Vice President


                                    GS ADVISORS, L.P.
                                    By: GS Advisors, Inc., its general partner

                                    By: /s/ Richard A. Friedman
                                       ---------------------------------------- 
                                    Name:  Richard A. Friedman
                                    Title: President


                                    GS CAPITAL PARTNERS, L.P.
                                    By: GS Advisors, L.P., its general partner
                                    By: GS Advisors, Inc., its general partner

                                    By: /s/ Richard A. Friedman
                                       -----------------------------------------
                                    Name:  Richard A. Friedman
                                    Title: President


                                    Page 10
<PAGE>                                                           
 
                                  SCHEDULE IV
                           Whole Foods Market, Inc.
                              Cusip No. 966837106



Purchases       Sales           Price     Trade Date    Settlement
                                                           Date
                                                   
                 2,500          35.125      6-Aug-97     11-Aug-97
                18,500          35.000      6-Aug-97     11-Aug-97
                30,000          35.000     12-Aug-97     15-Aug-97
                   100          34.625     12-Aug-97     15-Aug-97
                25,000          34.750     14-Aug-97     19-Aug-97
                45,000          34.500     20-Aug-97     25-Aug-97
                10,000          34.625     20-Aug-97     25-Aug-97
                25,000          34.375     20-Aug-97     25-Aug-97
                 7,500          34.625     21-Aug-97     26-Aug-97
                50,000          34.250     21-Aug-97     26-Aug-97


               

                                    Page 11

                                 


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