Sprouts Farmers Market, Inc. (NASDAQ:SFM) Rating Increased to Hold at Zacks Investment Research
Sprouts Farmers Market, Inc. (NASDAQ:SFM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.
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. “
Several other research analysts also recently commented on SFM. OTR Global downgraded Sprouts Farmers Market to a “neutral” rating in a research note on Wednesday, April 26th. Wells Fargo & Company restated a “buy” rating on shares of Sprouts Farmers Market in a research note on Friday, April 28th. Jefferies Group LLC set a $26.00 target price on Sprouts Farmers Market and gave the stock a “buy” rating in a research note on Monday, May 1st. BMO Capital Markets set a $24.00 target price on Sprouts Farmers Market and gave the stock a “hold” rating in a research note on Thursday, May 4th. Finally, Gordon Haskett started coverage on Sprouts Farmers Market in a research note on Tuesday, May 9th. They issued an “accumulate” rating and a $27.00 target price for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.95.
Shares of Sprouts Farmers Market (NASDAQ SFM) opened at 23.81 on Friday. The company has a market cap of $3.27 billion, a PE ratio of 27.98 and a beta of 0.52. Sprouts Farmers Market has a 52-week low of $17.38 and a 52-week high of $25.98. The company’s 50-day moving average is $23.22 and its 200 day moving average is $21.88.
Sprouts Farmers Market (NASDAQ:SFM) last issued its earnings results on Thursday, August 3rd. The company reported $0.29 EPS for the quarter, topping the 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 the consensus estimate of $1.17 billion. During the same quarter last year, the company earned $0.25 EPS. The firm’s revenue was up 14.8% compared to the same quarter last year. On average, analysts anticipate that Sprouts Farmers Market will post $0.91 EPS for the current year.
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In related news, CEO Amin N. Maredia sold 13,448 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $22.71, for a total transaction of $305,404.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO James Leroy Nielsen sold 55,322 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $23.74, for a total value of $1,313,344.28. Following the transaction, the chief operating officer now directly owns 152,430 shares in the company, valued at $3,618,688.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,246 shares of company stock worth $2,840,927. 2.60% of the stock is currently owned by insiders.
Several 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 worth approximately $404,000. Norges Bank bought a new position in shares of Sprouts Farmers Market during the fourth quarter worth approximately $18,761,000. Daiwa SB Investments Ltd. bought a new position in shares of Sprouts Farmers Market during the first quarter worth approximately $751,000. Capstone Asset Management Co. boosted its position in shares of Sprouts Farmers Market by 13.3% in the first quarter. Capstone Asset Management Co. now owns 13,550 shares of the company’s stock worth $313,000 after buying an additional 1,590 shares during the period. Finally, Prentiss Smith & Co. Inc. bought a new position in shares of Sprouts Farmers Market during the first quarter worth approximately $298,000. 87.44% of the stock is currently owned by institutional investors.
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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