Sprouts Farmers Market, Inc. (SFM) Lifted to “Buy” at BidaskClub

Sprouts Farmers Market, Inc. (NASDAQ:SFM) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday, July 12th.

SFM has been the subject of several other reports. Royal Bank Of Canada reissued a “buy” rating on shares of Sprouts Farmers Market in a research report on Wednesday, March 15th. Wells Fargo & Company reissued a “buy” rating on shares of Sprouts Farmers Market in a research report on Tuesday, March 21st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $22.00 target price on shares of Sprouts Farmers Market in a research report on Monday, March 20th. OTR Global lowered Sprouts Farmers Market to a “neutral” rating in a research report on Wednesday, April 26th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Sprouts Farmers Market in a research report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.05.

Shares of Sprouts Farmers Market (NASDAQ:SFM) traded down 0.73% during midday trading on Wednesday, reaching $24.34. The company had a trading volume of 2,208,404 shares. Sprouts Farmers Market has a 52-week low of $17.38 and a 52-week high of $25.98. The firm has a market cap of $3.35 billion, a P/E ratio of 28.60 and a beta of 0.52. The company’s 50-day moving average is $23.20 and its 200-day moving average is $21.92.

Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Sprouts Farmers Market had a return on equity of 18.79% and a net margin of 2.96%. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $0.25 EPS. Sprouts Farmers Market’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts expect that Sprouts Farmers Market will post $0.92 EPS for the current fiscal year.

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In related news, insider Brandon F. Lombardi sold 20,000 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $24.34, for a total value of $486,800.00. Following the completion of the transaction, the insider now directly owns 73,761 shares in the company, valued at $1,795,342.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Amin N. Maredia sold 13,448 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $22.71, for a total transaction of $305,404.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,246 shares of company stock worth $3,327,727. Insiders own 2.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SFM. Russell Investments Group Ltd. bought a new position in shares of Sprouts Farmers Market during the fourth quarter valued at about $404,000. Comerica Bank raised its position in shares of Sprouts Farmers Market by 3.9% in the fourth quarter. Comerica Bank now owns 80,261 shares of the company’s stock valued at $1,599,000 after buying an additional 2,984 shares during the period. New York State Teachers Retirement System raised its position in shares of Sprouts Farmers Market by 4.9% in the fourth quarter. New York State Teachers Retirement System now owns 38,400 shares of the company’s stock valued at $727,000 after buying an additional 1,800 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Sprouts Farmers Market by 4.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 9,443 shares of the company’s stock valued at $179,000 after buying an additional 363 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its position in shares of Sprouts Farmers Market by 6.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,216 shares of the company’s stock valued at $119,000 after buying an additional 390 shares during the period. Institutional investors own 86.88% of the company’s stock.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.

Analyst Recommendations for Sprouts Farmers Market (NASDAQ:SFM)

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