BidaskClub upgraded shares of Sprouts Farmers Market (NASDAQ:SFM) from a hold rating to a buy rating in a report published on Wednesday.
A number of other research analysts have also weighed in on SFM. BMO Capital Markets reaffirmed a hold rating and issued a $25.00 price target (up from $23.00) on shares of Sprouts Farmers Market in a research note on Friday, August 3rd. Loop Capital set a $24.00 price target on shares of Sprouts Farmers Market and gave the company a hold rating in a research note on Tuesday, July 17th. Jefferies Financial Group set a $26.00 price target on shares of Sprouts Farmers Market and gave the company a hold rating in a research note on Friday, August 3rd. Citigroup raised their price target on shares of Sprouts Farmers Market from $27.00 to $29.00 and gave the company a buy rating in a research note on Wednesday, August 8th. Finally, ValuEngine raised shares of Sprouts Farmers Market from a sell rating to a hold rating in a research note on Monday, August 20th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $27.22.
Sprouts Farmers Market stock traded down $0.51 during midday trading on Wednesday, reaching $26.50. The company had a trading volume of 2,527,132 shares, compared to its average volume of 1,958,378. The firm has a market capitalization of $3.42 billion, a PE ratio of 26.24, a P/E/G ratio of 1.71 and a beta of 0.74. Sprouts Farmers Market has a 12-month low of $19.80 and a 12-month high of $29.67. The company has a current ratio of 1.04, a quick ratio of 0.25 and a debt-to-equity ratio of 0.96.
Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.01. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Sprouts Farmers Market had a net margin of 3.62% and a return on equity of 25.56%. Sprouts Farmers Market’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company posted $0.23 EPS. On average, sell-side analysts predict that Sprouts Farmers Market will post 1.27 EPS for the current fiscal year.
In other Sprouts Farmers Market news, COO Dan J. Sanders sold 19,929 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $28.91, for a total value of $576,147.39. Following the transaction, the chief operating officer now directly owns 610,846 shares of the company’s stock, valued at approximately $17,659,557.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brandon F. Lombardi sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $28.28, for a total transaction of $1,414,000.00. Following the completion of the transaction, the insider now directly owns 93,581 shares in the company, valued at $2,646,470.68. The disclosure for this sale can be found here. Insiders sold a total of 116,929 shares of company stock worth $3,137,967 over the last three months. Corporate insiders own 1.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SFM. Voya Investment Management LLC raised its position in shares of Sprouts Farmers Market by 5,016.0% during the 2nd quarter. Voya Investment Management LLC now owns 2,412,642 shares of the company’s stock valued at $53,246,000 after buying an additional 2,365,483 shares during the period. Laurion Capital Management LP purchased a new stake in shares of Sprouts Farmers Market during the 2nd quarter valued at approximately $38,674,000. Hennessy Advisors Inc. raised its position in shares of Sprouts Farmers Market by 707.4% during the 3rd quarter. Hennessy Advisors Inc. now owns 1,151,400 shares of the company’s stock valued at $31,560,000 after buying an additional 1,008,800 shares during the period. Fort Washington Investment Advisors Inc. OH purchased a new stake in shares of Sprouts Farmers Market during the 2nd quarter valued at approximately $18,318,000. Finally, Waddell & Reed Financial Inc. raised its position in shares of Sprouts Farmers Market by 13.8% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 5,722,550 shares of the company’s stock valued at $126,296,000 after buying an additional 694,448 shares during the period. 93.19% of the stock is currently owned by hedge funds and other institutional investors.
About Sprouts Farmers Market
Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, meat and seafood, deli and baked goods, packaged groceries, vitamins and supplements, bulk foods, dairy and dairy alternatives, frozen foods, beer and wine, and natural body care and household items.
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