Sprouts Farmers Market (NASDAQ:SFM) Announces Earnings Results

Sprouts Farmers Market (NASDAQ:SFM) released its quarterly earnings results on Monday. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.16, Briefing.com reports. Sprouts Farmers Market had a net margin of 4.25% and a return on equity of 26.77%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the company earned $0.71 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year.

Sprouts Farmers Market Trading Up 19.9 %

Shares of NASDAQ SFM opened at $101.50 on Tuesday. The company’s fifty day moving average is $80.67 and its 200-day moving average is $68.09. The stock has a market cap of $10.20 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 3.31 and a beta of 0.55. Sprouts Farmers Market has a twelve month low of $36.21 and a twelve month high of $101.50. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 0.11.

Analyst Ratings Changes

SFM has been the subject of several research reports. BMO Capital Markets upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and increased their target price for the company from $40.00 to $102.00 in a research note on Tuesday. Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $62.00 to $90.00 in a research note on Tuesday. Bank of America raised their price target on shares of Sprouts Farmers Market from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. The Goldman Sachs Group raised their price target on shares of Sprouts Farmers Market from $78.00 to $89.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Evercore ISI raised their price target on shares of Sprouts Farmers Market from $77.00 to $80.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 16th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.50.

Insider Transactions at Sprouts Farmers Market

In related news, insider Brandon F. Lombardi sold 5,174 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $74.97, for a total value of $387,894.78. Following the sale, the insider now directly owns 6,052 shares of the company’s stock, valued at approximately $453,718.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sprouts Farmers Market news, COO Nicholas Konat sold 31,000 shares of Sprouts Farmers Market stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $74.14, for a total value of $2,298,340.00. Following the sale, the chief operating officer now directly owns 51,495 shares in the company, valued at approximately $3,817,839.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandon F. Lombardi sold 5,174 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $74.97, for a total transaction of $387,894.78. Following the transaction, the insider now owns 6,052 shares in the company, valued at $453,718.44. The disclosure for this sale can be found here. Insiders have sold a total of 66,147 shares of company stock valued at $4,999,299 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc, together with its subsidiaries, engages in the retailing of fresh, natural, and organic food products under the Sprouts brand in the United States. It offers perishable product categories, including fresh produce, meat and meat alternatives, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.