Sprouts Farmers Market, Inc. (NASDAQ:SFM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday, October 5th.
According to Zacks, “Sprouts Farmers Markets, LLC engages in the retailing of natural and organic food primarily in the United States. The Company offers fresh produce, meats, cheeses, dairy, bakery, beer and wine, bulk foods, vitamins, and supplements. Sprouts Farmers Markets, LLC is based in Phoenix, Arizona. “
A number of other equities research analysts have also recently weighed in on SFM. BMO Capital Markets set a $24.00 price objective on Sprouts Farmers Market and gave the stock a “hold” rating in a research note on Saturday, June 10th. Morgan Stanley cut Sprouts Farmers Market from an “overweight” rating to an “equal” rating and increased their price target for the company from $21.00 to $23.00 in a research note on Thursday, June 15th. Jefferies Group LLC set a $26.00 price target on Sprouts Farmers Market and gave the company a “buy” rating in a research note on Wednesday, June 14th. UBS AG upgraded Sprouts Farmers Market from a “market perform” rating to an “outperform” rating in a research note on Friday, June 16th. Finally, Oppenheimer Holdings, Inc. upgraded Sprouts Farmers Market from a “market perform” rating to an “outperform” rating and set a $24.00 price objective for the company in a research note on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $24.88.
Shares of Sprouts Farmers Market (NASDAQ SFM) traded down 0.16% on Thursday, hitting $18.72. 265,443 shares of the stock were exchanged. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 21.10 and a beta of 0.54. The stock’s 50-day moving average is $19.18 and its 200-day moving average is $22.36. Sprouts Farmers Market has a 1-year low of $17.38 and a 1-year high of $25.98.
Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. Analysts forecast that Sprouts Farmers Market will post $0.93 earnings per share for the current year.
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In other Sprouts Farmers Market news, insider Brandon F. Lombardi sold 20,000 shares of Sprouts Farmers Market stock in a transaction that occurred on Monday, August 7th. The stock was 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel Bruni bought 15,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was bought at an average price of $19.00 per share, with a total value of $285,000.00. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in shares of Sprouts Farmers Market by 14.7% during the first quarter. Russell Investments Group Ltd. now owns 24,050 shares of the company’s stock valued at $556,000 after buying an additional 3,091 shares during the last quarter. World Asset Management Inc bought a new stake in shares of Sprouts Farmers Market during the first quarter valued at approximately $210,000. UBS Asset Management Americas Inc. raised its holdings in shares of Sprouts Farmers Market by 48.1% during the first quarter. UBS Asset Management Americas Inc. now owns 108,829 shares of the company’s stock valued at $2,516,000 after buying an additional 35,328 shares during the last quarter. Karp Capital Management Corp bought a new stake in shares of Sprouts Farmers Market during the first quarter valued at approximately $564,000. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of Sprouts Farmers Market by 75.5% during the first quarter. Parametric Portfolio Associates LLC now owns 138,115 shares of the company’s stock valued at $3,193,000 after buying an additional 59,418 shares during the last quarter. Institutional investors own 87.66% of the company’s stock.
About Sprouts Farmers Market
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.
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