Sprouts Farmers Market (NASDAQ:SFM) Announces Earnings Results

Sprouts Farmers Market (NASDAQ:SFM) announced its quarterly earnings results on Wednesday. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.12, Briefing.com reports. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.85 billion. Sprouts Farmers Market had a net margin of 4.25% and a return on equity of 26.77%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 EPS.

Sprouts Farmers Market Price Performance

NASDAQ SFM traded up $1.68 during trading on Friday, hitting $73.68. 2,076,372 shares of the stock traded hands, compared to its average volume of 1,492,326. The company has a market capitalization of $7.40 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.50 and a beta of 0.50. Sprouts Farmers Market has a 12-month low of $32.12 and a 12-month high of $74.03. The firm has a 50-day simple moving average of $63.94 and a 200-day simple moving average of $52.87. The company has a quick ratio of 0.51, a current ratio of 1.19 and a debt-to-equity ratio of 0.11.

Insider Transactions at Sprouts Farmers Market

In related news, VP Stacy W. Hilgendorf sold 417 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $62.47, for a total value of $26,049.99. Following the sale, the vice president now owns 10,331 shares in the company, valued at $645,377.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sprouts Farmers Market news, CMO Alisa Gmelich sold 479 shares of Sprouts Farmers Market stock in a transaction on Friday, March 15th. The shares were sold at an average price of $62.47, for a total transaction of $29,923.13. Following the completion of the transaction, the chief marketing officer now directly owns 2,987 shares of the company’s stock, valued at $186,597.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Stacy W. Hilgendorf sold 417 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $62.47, for a total transaction of $26,049.99. Following the completion of the sale, the vice president now directly owns 10,331 shares in the company, valued at approximately $645,377.57. The disclosure for this sale can be found here. Insiders have sold 160,852 shares of company stock valued at $10,032,745 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

SFM has been the topic of several research analyst reports. The Goldman Sachs Group increased their price target on Sprouts Farmers Market from $56.00 to $71.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Evercore ISI reduced their price target on Sprouts Farmers Market from $62.00 to $61.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Bank of America upgraded Sprouts Farmers Market from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $70.00 in a research note on Tuesday, February 27th. Wells Fargo & Company increased their price objective on shares of Sprouts Farmers Market from $48.00 to $62.00 and gave the stock an “underweight” rating in a research note on Thursday. Finally, BMO Capital Markets upped their target price on shares of Sprouts Farmers Market from $31.00 to $40.00 and gave the stock an “underperform” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $53.50.

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.