Jefferies Group LLC Downgrades Sprouts Farmers Market, Inc. (SFM) to Hold
Jefferies Group LLC lowered shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) from a buy rating to a hold rating in a research note released on Thursday, Marketbeat Ratings reports. The brokerage currently has $26.00 price objective on the stock.
Several other equities research analysts have also recently commented on SFM. OTR Global cut shares of Sprouts Farmers Market to a neutral rating in a research report on Wednesday, April 26th. Zacks Investment Research raised shares of Sprouts Farmers Market from a hold rating to a buy rating and set a $25.00 price objective on the stock in a research report on Thursday, April 27th. Wells Fargo & Company reaffirmed a buy rating on shares of Sprouts Farmers Market in a research report on Friday, April 28th. BMO Capital Markets set a $24.00 price objective on shares of Sprouts Farmers Market and gave the company a hold rating in a research report on Thursday, May 4th. Finally, 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 objective on the stock. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $24.95.
Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Sprouts Farmers Market had a net margin of 2.97% and a return on equity of 17.33%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share.
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In other Sprouts Farmers Market news, COO James Leroy Nielsen sold 55,322 shares of the business’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 completion of the sale, the chief operating officer now owns 152,430 shares of the company’s stock, valued at approximately $3,618,688.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Amin N. Maredia sold 13,448 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $22.71, for a total transaction of $305,404.08. The disclosure for this sale can be found here. Insiders sold a total of 119,246 shares of company stock valued at $2,840,927 in the last three months. Insiders own 2.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Sprouts Farmers Market by 15,641.8% in the first quarter. BlackRock Inc. now owns 10,204,960 shares of the company’s stock worth $235,938,000 after buying an additional 10,140,133 shares during the period. ING Groep NV purchased a new stake in shares of Sprouts Farmers Market during the first quarter worth $98,411,000. Clearbridge Investments LLC increased its stake in shares of Sprouts Farmers Market by 239,983.3% in the first quarter. Clearbridge Investments LLC now owns 2,744,152 shares of the company’s stock worth $63,445,000 after buying an additional 2,743,009 shares during the period. FMR LLC increased its stake in shares of Sprouts Farmers Market by 771.4% in the first quarter. FMR LLC now owns 1,691,438 shares of the company’s stock worth $39,106,000 after buying an additional 1,497,338 shares during the period. Finally, Carve CapitalAB increased its stake in shares of Sprouts Farmers Market by 54.1% in the first quarter. Carve CapitalAB now owns 4,100,000 shares of the company’s stock worth $95,412,000 after buying an additional 1,439,258 shares during the period. 87.44% of the stock is 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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