$1.08 Billion in Sales Expected for Smart (SFS) This Quarter

Brokerages expect Smart (NYSE:SFS) to announce $1.08 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Smart’s earnings, with estimates ranging from $1.07 billion to $1.08 billion. Smart posted sales of $1.04 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.8%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, July 25th.

According to Zacks, analysts expect that Smart will report full year sales of $1.08 billion for the current financial year, with estimates ranging from $4.60 billion to $4.63 billion. For the next financial year, analysts expect that the firm will post sales of $5.02 billion per share, with estimates ranging from $4.96 billion to $5.08 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Smart.

Several brokerages have issued reports on SFS. BidaskClub lowered Smart from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 13th. Zacks Investment Research upgraded Smart from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Loop Capital began coverage on Smart in a research report on Monday, May 15th. They set a “buy” rating and a $17.00 target price for the company. Royal Bank Of Canada restated an “outperform” rating and set a $19.00 target price on shares of Smart in a research report on Thursday, May 4th. Finally, Morgan Stanley restated an “underweight” rating and set a $8.00 target price (down previously from $11.00) on shares of Smart in a research report on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.50.

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In related news, SVP Michael A. Mortensen sold 26,980 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $13.42, for a total value of $362,071.60. Following the transaction, the senior vice president now directly owns 48,191 shares of the company’s stock, valued at approximately $646,723.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Scott R. Drew sold 21,000 shares of the company’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $13.02, for a total value of $273,420.00. Following the completion of the transaction, the executive vice president now directly owns 64,648 shares in the company, valued at $841,716.96. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,940 shares of company stock worth $1,097,389. 8.47% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in SFS. Wellington Management Group LLP increased its stake in shares of Smart by 50.5% in the first quarter. Wellington Management Group LLP now owns 7,771,127 shares of the company’s stock valued at $94,031,000 after buying an additional 2,608,286 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Smart by 4.5% in the first quarter. Vanguard Group Inc. now owns 2,278,419 shares of the company’s stock valued at $27,569,000 after buying an additional 97,761 shares in the last quarter. Granite Investment Partners LLC increased its stake in shares of Smart by 37.9% in the first quarter. Granite Investment Partners LLC now owns 1,032,996 shares of the company’s stock valued at $12,499,000 after buying an additional 283,837 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Smart by 68.2% in the first quarter. Dimensional Fund Advisors LP now owns 744,546 shares of the company’s stock valued at $9,009,000 after buying an additional 301,959 shares in the last quarter. Finally, United Services Automobile Association increased its stake in shares of Smart by 22.3% in the first quarter. United Services Automobile Association now owns 723,190 shares of the company’s stock valued at $8,751,000 after buying an additional 131,800 shares in the last quarter.

Smart (NYSE SFS) traded down 3.23% during midday trading on Friday, reaching $7.50. The company’s stock had a trading volume of 538,144 shares. Smart has a 12-month low of $7.50 and a 12-month high of $16.16. The firm has a market cap of $549.08 million, a price-to-earnings ratio of 55.97 and a beta of 0.31. The company’s 50-day moving average is $11.89 and its 200 day moving average is $12.94.

About Smart

Smart & Final Stores, Inc is a food retailer. The Company is engaged in the business of selling fresh perishables and everyday grocery items, together with foodservice, packaging and janitorial products. The Company operates through two segments: Smart & Final, and Cash and Carry. The Smart & Final segment focuses on both household and business customers.

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