Sprouts Farmers Market (NASDAQ:SFM) Releases FY24 Earnings Guidance

Sprouts Farmers Market (NASDAQ:SFM) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $3.29-$3.37 for the period, compared to the consensus EPS estimate of $3.12. The company issued revenue guidance of $7.45-$7.52 billion, compared to the consensus revenue estimate of $7.41 billion. Sprouts Farmers Market also updated its FY 2024 guidance to 3.290-3.370 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SFM shares. Bank of America boosted their target price on shares of Sprouts Farmers Market from $84.00 to $100.00 and gave the stock a buy rating in a report on Tuesday. The Goldman Sachs Group lifted their target price on shares of Sprouts Farmers Market from $89.00 to $111.00 and gave the stock a buy rating in a research note on Wednesday. Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an underweight rating to an equal weight rating and upped their price objective for the stock from $62.00 to $90.00 in a research report on Tuesday. UBS Group upped their price target on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the company a neutral rating in a research report on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a hold rating in a research report on Monday. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $87.11.

Sprouts Farmers Market Stock Performance

SFM traded up $0.46 during midday trading on Thursday, hitting $100.35. 1,163,391 shares of the company were exchanged, compared to its average volume of 1,365,981. The firm has a market capitalization of $10.05 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 3.38 and a beta of 0.55. Sprouts Farmers Market has a 1-year low of $36.21 and a 1-year high of $103.80. The company’s 50 day simple moving average is $81.43 and its 200 day simple moving average is $68.63. The company has a current ratio of 1.03, a quick ratio of 0.65 and a debt-to-equity ratio of 0.01.

Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Monday, July 29th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.16. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. As a group, sell-side analysts predict that Sprouts Farmers Market will post 3.38 earnings per share for the current year.

Insider Activity at Sprouts Farmers Market

In related news, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total value of $476,433.32. Following the sale, the chief executive officer now directly owns 245,288 shares in the company, valued at $20,452,113.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $83.38, for a total transaction of $476,433.32. Following the completion of the sale, the chief executive officer now owns 245,288 shares of the company’s stock, valued at approximately $20,452,113.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joe Fortunato sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $78.48, for a total value of $392,400.00. Following the completion of the transaction, the director now directly owns 52,966 shares in the company, valued at $4,156,771.68. The disclosure for this sale can be found here. Insiders have sold 66,147 shares of company stock valued at $4,999,299 in the last ninety days. Insiders own 1.10% of the company’s stock.

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.