Several other brokerages also recently commented on SFM. J P Morgan Chase & Co upgraded shares of Sprouts Farmers Market from a neutral rating to an overweight rating and raised their target price for the stock from $24.00 to $27.00 in a report on Friday, August 4th. Morgan Stanley downgraded shares of Sprouts Farmers Market from an overweight rating to an equal rating and raised their target price for the stock from $21.00 to $23.00 in a report on Thursday, June 15th. Royal Bank Of Canada restated a buy rating and set a $28.00 target price on shares of Sprouts Farmers Market in a report on Friday, June 30th. Stephens initiated coverage on shares of Sprouts Farmers Market in a report on Friday, August 11th. They set an equal weight rating and a $25.00 target price on the stock. Finally, UBS AG upgraded shares of Sprouts Farmers Market from a market perform rating to an outperform rating in a report on Friday, June 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $25.11.
Shares of Sprouts Farmers Market (NASDAQ:SFM) traded up 0.37% on Friday, reaching $19.00. 5,845,986 shares of the company were exchanged. The stock has a 50 day moving average price of $22.24 and a 200-day moving average price of $22.52. Sprouts Farmers Market has a 12 month low of $17.38 and a 12 month high of $25.98. The stock has a market capitalization of $2.58 billion, a P/E ratio of 21.42 and a beta of 0.56.
Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. Sprouts Farmers Market had a net margin of 2.96% and a return on equity of 18.79%. Sprouts Farmers Market’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. On average, equities analysts expect that Sprouts Farmers Market will post $0.93 EPS for the current fiscal year.
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In other news, CFO Bradley Lukow bought 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of $19.80 per share, with a total value of $138,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven H. Townsend sold 15,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $24.42, for a total transaction of $366,300.00. The disclosure for this sale can be found here. Insiders sold 48,448 shares of company stock valued at $1,158,504 over the last three months. 2.60% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC grew its stake in shares of Sprouts Farmers Market by 1,093.0% in the second quarter. Advisory Services Network LLC now owns 5,309 shares of the company’s stock valued at $120,000 after buying an additional 4,864 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Sprouts Farmers Market by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,460 shares of the company’s stock valued at $126,000 after buying an additional 468 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Sprouts Farmers Market in the first quarter valued at $152,000. Asset Management One Co. Ltd. bought a new position in shares of Sprouts Farmers Market in the first quarter valued at $161,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Sprouts Farmers Market by 2.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the company’s stock valued at $171,000 after buying an additional 170 shares in the last quarter. 88.09% of the stock is owned by institutional investors and hedge funds.
Sprouts Farmers Market Company Profile
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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