Sprouts Farmers Market (NASDAQ:SFM) Releases Earnings Results

Sprouts Farmers Market (NASDAQ:SFM) issued its earnings results on Wednesday. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.12, Briefing.com reports. Sprouts Farmers Market had a return on equity of 26.71% and a net margin of 3.79%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ:SFM traded up $8.34 during trading on Thursday, reaching $72.63. The company had a trading volume of 2,793,354 shares, compared to its average volume of 1,340,932. The firm has a market capitalization of $7.35 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.40 and a beta of 0.50. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.10 and a quick ratio of 0.51. The stock’s fifty day moving average price is $63.29 and its 200 day moving average price is $52.52. Sprouts Farmers Market has a fifty-two week low of $32.12 and a fifty-two week high of $74.03.

Insider Activity

In related news, Director Joe Fortunato sold 13,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.71, for a total transaction of $828,230.00. Following the transaction, the director now owns 39,395 shares of the company’s stock, valued at $2,509,855.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sprouts Farmers Market news, insider Timmi Zalatoris sold 5,353 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $61.62, for a total transaction of $329,851.86. Following the sale, the insider now directly owns 10,895 shares in the company, valued at $671,349.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joe Fortunato sold 13,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.71, for a total value of $828,230.00. Following the sale, the director now owns 39,395 shares in the company, valued at $2,509,855.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,852 shares of company stock valued at $10,032,745. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Evercore ISI cut their target price on Sprouts Farmers Market from $62.00 to $61.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. The Goldman Sachs Group raised their price objective on Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Wells Fargo & Company raised their price objective on Sprouts Farmers Market from $48.00 to $62.00 and gave the stock an “underweight” rating in a research report on Thursday. Oppenheimer reissued a “market perform” rating on shares of Sprouts Farmers Market in a research report on Monday. Finally, Bank of America raised Sprouts Farmers Market from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $70.00 in a research report on Tuesday, February 27th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.