Sprouts Farmers Market (NASDAQ:SFM) Releases Q3 2024 Earnings Guidance

Sprouts Farmers Market (NASDAQ:SFM) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.710-0.750 for the period, compared to the consensus estimate of 0.690. The company issued revenue guidance of -. Sprouts Farmers Market also updated its FY 2024 guidance to 3.290-3.370 EPS.

Sprouts Farmers Market Stock Up 14.2 %

Shares of SFM traded up $12.05 during midday trading on Tuesday, hitting $96.71. The stock had a trading volume of 3,365,827 shares, compared to its average volume of 1,334,230. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 3.31 and a beta of 0.55. The company has a 50 day simple moving average of $80.67 and a two-hundred day simple moving average of $68.09. Sprouts Farmers Market has a twelve month low of $36.21 and a twelve month high of $103.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.65.

Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.16. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm earned $0.71 EPS. Sprouts Farmers Market’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, analysts anticipate that Sprouts Farmers Market will post 3.12 EPS for the current year.

Wall Street Analysts Forecast Growth

SFM has been the subject of a number of analyst reports. Evercore ISI raised their target price on shares of Sprouts Farmers Market from $77.00 to $80.00 and gave the company an in-line rating in a research report on Tuesday, July 16th. The Goldman Sachs Group raised their target price on shares of Sprouts Farmers Market from $78.00 to $89.00 and gave the company a buy rating in a research note on Wednesday, July 10th. 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. Wells Fargo & Company raised shares of Sprouts Farmers Market from an underweight rating to an equal weight rating and lifted their target price for the stock from $62.00 to $90.00 in a report on Tuesday. Finally, BMO Capital Markets raised shares of Sprouts Farmers Market from an underperform rating to a market perform rating and increased their price target for the company from $40.00 to $102.00 in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Sprouts Farmers Market has a consensus rating of Hold and a consensus target price of $83.50.

Insiders Place Their Bets

In related news, SVP Kim Coffin sold 1,322 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $75.05, for a total value of $99,216.10. Following the completion of the transaction, the senior vice president now owns 5,500 shares of the company’s stock, valued at $412,775. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Kim Coffin sold 1,322 shares of Sprouts Farmers Market stock in a transaction on Monday, May 6th. The stock was sold at an average price of $75.05, for a total value of $99,216.10. Following the transaction, the senior vice president now owns 5,500 shares in the company, valued at approximately $412,775. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jack Sinclair sold 5,718 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $77.07, for a total transaction of $440,686.26. Following the completion of the transaction, the chief executive officer now directly owns 256,716 shares of the company’s stock, valued at approximately $19,785,102.12. The disclosure for this sale can be found here. Insiders sold 66,147 shares of company stock worth $4,999,299 in the last quarter. 1.10% of the stock is currently 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.