Research analysts at Stephens initiated coverage on shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) in a report issued on Friday, The Fly reports. The firm set an “equal weight” rating on the stock.
SFM has been the topic of a number of other reports. OTR Global lowered Sprouts Farmers Market to a “neutral” rating in a research note on Wednesday, April 26th. Jefferies Group LLC restated a “buy” rating and set a $25.00 price target (down from $26.00) on shares of Sprouts Farmers Market in a research note on Friday, June 23rd. Wells Fargo & Company restated a “buy” rating on shares of Sprouts Farmers Market in a research note on Thursday, May 4th. Royal Bank Of Canada restated a “buy” rating and set a $28.00 price target on shares of Sprouts Farmers Market in a research note on Friday, June 30th. Finally, Morgan Stanley lowered Sprouts Farmers Market from an “overweight” rating to an “equal” rating and boosted their price target for the company from $21.00 to $23.00 in a research note on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $25.44.
Sprouts Farmers Market (SFM) opened at 23.82 on Friday. The firm’s 50-day moving average price is $23.51 and its 200-day moving average price is $22.04. Sprouts Farmers Market has a 12-month low of $17.38 and a 12-month high of $25.98. The company has a market cap of $3.23 billion, a P/E ratio of 26.85 and a beta of 0.52.
Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Sprouts Farmers Market had a return on equity of 18.79% and a net margin of 2.96%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. Analysts expect that Sprouts Farmers Market will post $0.93 EPS for the current year.
In other Sprouts Farmers Market news, insider Brandon F. Lombardi sold 20,000 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $24.34, for a total transaction of $486,800.00. Following the transaction, the insider now owns 73,761 shares of the company’s stock, valued at approximately $1,795,342.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO James Leroy Nielsen sold 55,322 shares of the company’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $23.74, for a total value of $1,313,344.28. Following the transaction, the chief operating officer now directly owns 152,430 shares in the company, valued at approximately $3,618,688.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 110,746 shares of company stock worth $2,638,027. Company insiders own 2.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SFM. Russell Investments Group Ltd. purchased a new position in Sprouts Farmers Market during the fourth quarter valued at about $404,000. Capstone Asset Management Co. boosted its stake in shares of Sprouts Farmers Market by 13.3% in the first quarter. Capstone Asset Management Co. now owns 13,550 shares of the company’s stock valued at $313,000 after buying an additional 1,590 shares during the last quarter. CWM LLC boosted its stake in shares of Sprouts Farmers Market by 32,431.7% in the first quarter. CWM LLC now owns 97,595 shares of the company’s stock valued at $2,256,000 after buying an additional 97,295 shares during the last quarter. Reliance Trust Co. of Delaware acquired a new stake in shares of Sprouts Farmers Market during the first quarter valued at approximately $333,000. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Sprouts Farmers Market during the first quarter valued at approximately $22,210,000. 86.88% of the stock is currently owned by hedge funds and other institutional investors.
About Sprouts Farmers Market
Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.
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