Short Interest in Sprouts Farmers Market, Inc. (SFM) Rises By 13.5%
Sprouts Farmers Market, Inc. (NASDAQ:SFM) was the recipient of a large growth in short interest during the month of September. As of September 29th, there was short interest totalling 15,753,972 shares, a growth of 13.5% from the September 15th total of 13,876,869 shares. Approximately 12.4% of the company’s shares are short sold. Based on an average daily volume of 2,180,730 shares, the short-interest ratio is currently 7.2 days.
Shares of Sprouts Farmers Market (NASDAQ:SFM) opened at 18.75 on Tuesday. The company has a market capitalization of $2.54 billion, a PE ratio of 21.14 and a beta of 0.54. Sprouts Farmers Market has a 52-week low of $17.38 and a 52-week high of $25.98. The company has a 50-day moving average of $19.18 and a 200 day moving average of $22.36.
Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Sprouts Farmers Market had a net margin of 2.96% and a return on equity of 18.79%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.25 earnings per share. Analysts predict that Sprouts Farmers Market will post $0.93 earnings per share for the current year.
In related news, insider Brandon F. Lombardi sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $24.34, for a total value of $486,800.00. Following the completion of the transaction, the insider now owns 73,761 shares in the company, valued at approximately $1,795,342.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Bradley Lukow acquired 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price of $19.80 per share, with a total value of $138,600.00. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.
A number of large investors have recently bought and sold shares of SFM. Russell Investments Group Ltd. grew its holdings in Sprouts Farmers Market by 14.7% in the first quarter. Russell Investments Group Ltd. now owns 24,050 shares of the company’s stock worth $556,000 after purchasing an additional 3,091 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Sprouts Farmers Market by 48.1% in the first quarter. UBS Asset Management Americas Inc. now owns 108,829 shares of the company’s stock worth $2,516,000 after purchasing an additional 35,328 shares during the period. Karp Capital Management Corp acquired a new stake in Sprouts Farmers Market in the first quarter worth $564,000. Parametric Portfolio Associates LLC grew its holdings in Sprouts Farmers Market by 75.5% in the first quarter. Parametric Portfolio Associates LLC now owns 138,115 shares of the company’s stock worth $3,193,000 after purchasing an additional 59,418 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Sprouts Farmers Market by 28.3% in the first quarter. Envestnet Asset Management Inc. now owns 12,117 shares of the company’s stock worth $280,000 after purchasing an additional 2,674 shares during the period. Institutional investors and hedge funds own 87.66% of the company’s stock.
Several research analysts recently weighed in on SFM shares. Morgan Stanley restated an “equal weight” rating and issued a $22.00 price objective (down previously from $23.00) on shares of Sprouts Farmers Market in a research report on Monday, June 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $25.00 target price (down previously from $26.00) on shares of Sprouts Farmers Market in a report on Friday, June 23rd. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Sprouts Farmers Market in a report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $28.00 target price on shares of Sprouts Farmers Market in a report on Friday, June 30th. Finally, BidaskClub raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.88.
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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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