Sprouts Farmers Market (NASDAQ:SFM) Announces Earnings Results

Sprouts Farmers Market (NASDAQ:SFM) issued its quarterly earnings results on Monday. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.16, Briefing.com reports. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 28.19%. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year.

Sprouts Farmers Market Price Performance

SFM stock traded up $4.01 during midday trading on Wednesday, hitting $99.89. The company’s stock had a trading volume of 2,823,155 shares, compared to its average volume of 1,367,353. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. Sprouts Farmers Market has a 12 month low of $36.21 and a 12 month high of $103.80. The company has a 50 day moving average of $81.02 and a two-hundred day moving average of $68.41. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 3.23 and a beta of 0.55.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Wells Fargo & Company raised Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $62.00 to $90.00 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lifted their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a report on Monday. The Goldman Sachs Group increased their price objective on Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday. Evercore ISI raised their price target on shares of Sprouts Farmers Market from $84.00 to $96.00 and gave the company an “in-line” rating in a report on Tuesday. Finally, UBS Group increased their price objective on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $87.11.

Insider Activity at Sprouts Farmers Market

In related news, CEO Jack Sinclair sold 5,714 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 245,288 shares in the company, valued at approximately $20,452,113.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Sprouts Farmers Market 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 value of $476,433.32. Following the completion of the sale, the chief executive officer now directly owns 245,288 shares in the company, valued at $20,452,113.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Nicholas Konat sold 31,000 shares of Sprouts Farmers Market stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $74.14, for a total transaction of $2,298,340.00. Following the sale, the chief operating officer now owns 51,495 shares of the company’s stock, valued at $3,817,839.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,147 shares of company stock valued at $4,999,299. Corporate insiders own 1.10% of the company’s stock.

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.