Zacks Research Comments on Sprouts Farmers Market, Inc.’s Q3 2024 Earnings (NASDAQ:SFM)

Sprouts Farmers Market, Inc. (NASDAQ:SFM) – Equities research analysts at Zacks Research boosted their Q3 2024 earnings per share (EPS) estimates for Sprouts Farmers Market in a research report issued to clients and investors on Monday, August 12th. Zacks Research analyst S. Singh now forecasts that the company will post earnings per share of $0.74 for the quarter, up from their previous forecast of $0.69. The consensus estimate for Sprouts Farmers Market’s current full-year earnings is $3.37 per share. Zacks Research also issued estimates for Sprouts Farmers Market’s FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $1.20 EPS, Q2 2025 earnings at $1.03 EPS, FY2025 earnings at $3.68 EPS and Q1 2026 earnings at $1.32 EPS.

SFM has been the topic of a number of other research reports. BMO Capital Markets raised shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $40.00 to $102.00 in a report on Tuesday, July 30th. Wells Fargo & Company raised Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $62.00 to $90.00 in a report on Tuesday, July 30th. Oppenheimer reaffirmed a “market perform” rating on shares of Sprouts Farmers Market in a report on Monday, April 29th. Bank of America lifted their price target on Sprouts Farmers Market from $84.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, UBS Group lifted 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. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Sprouts Farmers Market has an average rating of “Hold” and an average price target of $93.38.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ SFM opened at $98.40 on Wednesday. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $84.71 and its two-hundred day moving average price is $71.81. Sprouts Farmers Market has a 52-week low of $37.16 and a 52-week high of $103.80. The stock has a market capitalization of $9.89 billion, a P/E ratio of 33.93, a P/E/G ratio of 2.74 and a beta of 0.55.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.16. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS.

Insiders Place Their Bets

In other Sprouts Farmers Market news, VP Stacy W. Hilgendorf sold 1,904 shares of Sprouts Farmers Market stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $101.12, for a total transaction of $192,532.48. Following the transaction, the vice president now directly owns 10,237 shares in the company, valued at approximately $1,035,165.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Jack Sinclair sold 5,718 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $77.07, for a total transaction of $440,686.26. Following the transaction, the chief executive officer now directly owns 256,716 shares in the company, valued at approximately $19,785,102.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Stacy W. Hilgendorf sold 1,904 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $101.12, for a total transaction of $192,532.48. Following the transaction, the vice president now owns 10,237 shares in the company, valued at $1,035,165.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 112,096 shares of company stock worth $10,750,846. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Institutional investors and hedge funds have recently modified their holdings of the business. Dorsey Wright & Associates acquired a new stake in shares of Sprouts Farmers Market in the 4th quarter valued at $1,378,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Sprouts Farmers Market by 8.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 616,429 shares of the company’s stock worth $39,748,000 after acquiring an additional 48,225 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Sprouts Farmers Market by 411.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,538,410 shares of the company’s stock worth $74,013,000 after acquiring an additional 1,237,610 shares during the last quarter. Knights of Columbus Asset Advisors LLC lifted its position in Sprouts Farmers Market by 10.0% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 158,767 shares of the company’s stock worth $7,638,000 after acquiring an additional 14,401 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Sprouts Farmers Market by 78.8% during the 1st quarter. Inspire Investing LLC now owns 26,113 shares of the company’s stock worth $1,684,000 after acquiring an additional 11,508 shares during the last quarter.

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.