Sprouts Farmers Market (NASDAQ:SFM) Announces Quarterly Earnings Results
by Doug Wharley · The Cerbat GemSprouts Farmers Market (NASDAQ:SFM – Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.89 by $0.04, FiscalAI reports. The company had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.15 billion. Sprouts Farmers Market had a net margin of 5.93% and a return on equity of 38.03%.
Sprouts Farmers Market Price Performance
Shares of SFM traded up $0.18 during mid-day trading on Thursday, hitting $67.85. The company’s stock had a trading volume of 3,423,041 shares, compared to its average volume of 2,954,396. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.05 and a quick ratio of 0.53. The firm has a 50-day moving average price of $74.91 and a 200 day moving average price of $99.20. Sprouts Farmers Market has a fifty-two week low of $64.75 and a fifty-two week high of $182.00. The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.67 and a beta of 0.75.
Insider Buying and Selling
In other news, insider John Scott Neal sold 17,471 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $85.20, for a total transaction of $1,488,529.20. Following the completion of the sale, the insider directly owned 14,178 shares of the company’s stock, valued at $1,207,965.60. This trade represents a 55.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Alisa Gmelich sold 3,161 shares of Sprouts Farmers Market stock in a transaction on Friday, December 12th. The stock was sold at an average price of $79.39, for a total value of $250,951.79. Following the completion of the transaction, the chief marketing officer owned 5,552 shares in the company, valued at $440,773.28. The trade was a 36.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.
Institutional Trading of Sprouts Farmers Market
A number of hedge funds have recently made changes to their positions in the stock. Focus Partners Wealth purchased a new position in Sprouts Farmers Market during the first quarter valued at approximately $400,000. Baird Financial Group Inc. boosted its stake in shares of Sprouts Farmers Market by 77.7% during the 2nd quarter. Baird Financial Group Inc. now owns 3,509 shares of the company’s stock valued at $578,000 after buying an additional 1,534 shares during the period. Cerity Partners LLC grew its holdings in shares of Sprouts Farmers Market by 13.1% during the 2nd quarter. Cerity Partners LLC now owns 22,554 shares of the company’s stock valued at $3,713,000 after acquiring an additional 2,609 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Sprouts Farmers Market by 12.0% in the second quarter. Daiwa Securities Group Inc. now owns 22,882 shares of the company’s stock worth $3,767,000 after acquiring an additional 2,460 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Sprouts Farmers Market by 64.0% during the second quarter. NewEdge Advisors LLC now owns 11,513 shares of the company’s stock worth $1,896,000 after acquiring an additional 4,492 shares in the last quarter.
Analyst Ratings Changes
Several analysts recently commented on SFM shares. Roth Mkm restated a “neutral” rating and issued a $91.00 target price on shares of Sprouts Farmers Market in a research report on Thursday, October 30th. Evercore restated an “outperform” rating on shares of Sprouts Farmers Market in a research note on Tuesday, February 10th. Zacks Research raised shares of Sprouts Farmers Market from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. Barclays decreased their target price on shares of Sprouts Farmers Market from $122.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.54.
Check Out Our Latest Analysis on SFM
Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc (NASDAQ: SFM) is a specialty grocery retailer focused on fresh, natural and organic foods. Headquartered in Phoenix, Arizona, the company operates stores designed to offer an open-market shopping experience, emphasizing quality produce sourced from regional farmers alongside organic pantry staples, dairy, meat and seafood. Sprouts’ product assortment also includes bulk foods, vitamins and supplements, a deli and prepared foods, reflecting its commitment to wellness and affordable healthy living.
Founded in 2002 by members of the Boney family, Sprouts began as a single farmers market in Chandler, Arizona.
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