Sprouts Farmers Market (NASDAQ:SFM) Issues FY 2024 Earnings Guidance

Sprouts Farmers Market (NASDAQ:SFM) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 3.290-3.370 for the period, compared to the consensus earnings per share estimate of 3.130. The company issued revenue guidance of $7.5 billion-$7.5 billion, compared to the consensus revenue estimate of $7.4 billion. Sprouts Farmers Market also updated its FY24 guidance to $3.29-$3.37 EPS.

Sprouts Farmers Market Stock Down 2.4 %

NASDAQ:SFM traded down $2.04 during trading hours on Monday, hitting $84.66. 2,836,606 shares of the company traded hands, compared to its average volume of 1,321,200. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. The firm’s 50-day simple moving average is $80.67 and its 200-day simple moving average is $68.09. Sprouts Farmers Market has a one year low of $36.21 and a one year high of $88.36. The company has a market cap of $8.51 billion, a PE ratio of 29.19, a PEG ratio of 3.31 and a beta of 0.55.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.12. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.85 billion. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. Equities analysts predict that Sprouts Farmers Market will post 3.12 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SFM. Deutsche Bank Aktiengesellschaft upped their price target on Sprouts Farmers Market from $63.00 to $76.00 and gave the company a hold rating in a report on Monday. Evercore ISI upped their price target on Sprouts Farmers Market from $77.00 to $80.00 and gave the company an in-line rating in a report on Tuesday, July 16th. UBS Group upped their price target on Sprouts Farmers Market from $68.00 to $94.00 and gave the company a neutral rating in a report on Friday, June 28th. Oppenheimer reaffirmed a market perform rating on shares of Sprouts Farmers Market in a report on Monday, April 29th. Finally, BMO Capital Markets upped their price objective on Sprouts Farmers Market from $31.00 to $40.00 and gave the company an underperform rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $68.50.

Insider Buying and Selling

In related news, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was 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 in the company, valued at $20,452,113.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Brandon F. Lombardi sold 5,174 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $74.97, for a total transaction of $387,894.78. Following the completion of the sale, the insider now directly owns 6,052 shares of the company’s stock, valued at approximately $453,718.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jack Sinclair sold 5,714 shares of the firm’s 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 of the company’s stock, valued at $20,452,113.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,147 shares of company stock worth $4,999,299. 1.10% of the stock is 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.