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

Sprouts Farmers Market (NASDAQ:SFM) updated its FY24 earnings guidance on Monday. 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 Q3 guidance to $0.71-$0.75 EPS.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Evercore ISI increased 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. Wells Fargo & Company increased their price target on Sprouts Farmers Market from $48.00 to $62.00 and gave the company an underweight rating in a report on Thursday, May 2nd. UBS Group increased 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. Deutsche Bank Aktiengesellschaft increased 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. Finally, BMO Capital Markets increased their price target on Sprouts Farmers Market from $31.00 to $40.00 and gave the company an underperform rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average target price of $68.50.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ SFM traded down $2.04 during mid-day trading on Monday, hitting $84.66. The company had a trading volume of 2,492,895 shares, compared to its average volume of 1,319,144. The stock has a market cap of $8.51 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 3.31 and a beta of 0.55. Sprouts Farmers Market has a 12 month low of $36.21 and a 12 month high of $88.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.65. The firm’s 50 day simple moving average is $80.56 and its two-hundred day simple moving average is $67.84.

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

Insider Activity at Sprouts Farmers Market

In related news, 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 in the company, valued at approximately $20,452,113.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total transaction of $476,433.32. Following the transaction, the chief executive officer now directly owns 245,288 shares in the company, valued at approximately $20,452,113.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David Mcglinchey sold 12,219 shares of Sprouts Farmers Market stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $74.01, for a total value of $904,328.19. Following the transaction, the insider now owns 25,007 shares in the company, valued at $1,850,768.07. The disclosure for this sale can be found here. Insiders have sold a total of 66,147 shares of company stock worth $4,999,299 in the last three months. 1.10% of the stock is owned by company 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.