Wells Fargo & Company Reaffirms Buy Rating for Sprouts Farmers Market, Inc. (SFM)
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Sprouts Farmers Market from a hold rating to a buy rating and set a $25.00 price target on the stock in a research report on Thursday, April 27th. Gordon Haskett started coverage on shares of Sprouts Farmers Market in a research report on Tuesday, May 9th. They issued an accumulate rating and a $27.00 price target on the stock. Morgan Stanley cut shares of Sprouts Farmers Market from an overweight rating to an equal rating and boosted their price target for the stock from $21.00 to $23.00 in a research report on Thursday, June 15th. Jefferies Group LLC set a $26.00 price target on shares of Sprouts Farmers Market and gave the stock a buy rating in a research report on Monday, May 1st. Finally, OTR Global cut shares of Sprouts Farmers Market to a neutral rating in a research report on Wednesday, April 26th. 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 company’s stock. The company has an average rating of Buy and a consensus target price of $25.05.
Sprouts Farmers Market (NASDAQ SFM) opened at 23.81 on Thursday. Sprouts Farmers Market has a 12-month low of $17.38 and a 12-month high of $25.98. The firm’s 50-day moving average is $23.22 and its 200 day moving average is $21.88. The stock has a market capitalization of $3.27 billion, a P/E ratio of 27.98 and a beta of 0.52.
Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly 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 net margin of 2.96% and a return on equity of 18.79%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the business earned $0.25 earnings per share. Sprouts Farmers Market’s revenue for the quarter was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Sprouts Farmers Market will post $0.92 earnings per share for the current year.
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In other Sprouts Farmers Market news, CEO Amin N. Maredia sold 13,448 shares of Sprouts Farmers Market 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Dan J. Sanders sold 21,976 shares of Sprouts Farmers Market stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $24.23, for a total value of $532,478.48. Following the transaction, the chief operating officer now directly owns 36,771 shares in the company, valued at approximately $890,961.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,246 shares of company stock worth $2,840,927. Company insiders own 2.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Granite Investment Partners LLC boosted its position in Sprouts Farmers Market by 39.2% in the first quarter. Granite Investment Partners LLC now owns 437,215 shares of the company’s stock valued at $10,108,000 after buying an additional 123,099 shares during the period. Independent Portfolio Consultants Inc. boosted its position in Sprouts Farmers Market by 103.2% in the first quarter. Independent Portfolio Consultants Inc. now owns 19,490 shares of the company’s stock valued at $451,000 after buying an additional 9,900 shares during the period. Rehmann Capital Advisory Group acquired a new position in Sprouts Farmers Market during the first quarter valued at $243,000. Rice Hall James & Associates LLC acquired a new position in Sprouts Farmers Market during the first quarter valued at $22,210,000. Finally, Reliance Trust Co. of Delaware acquired a new position in Sprouts Farmers Market during the first quarter valued at $333,000. 86.88% of the stock is currently owned by institutional investors.
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.
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