Sprouts Farmers Market, Inc. (SFM) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) from a buy rating to a hold rating in a report released on Thursday.
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 equities analysts have also weighed in on the stock. BMO Capital Markets set a $24.00 target price on shares of Sprouts Farmers Market and gave the company a hold rating in a report on Tuesday, August 29th. SunTrust Banks, Inc. reiterated a buy rating and issued a $27.00 target price on shares of Sprouts Farmers Market in a report on Friday, September 15th. Morgan Stanley lowered shares of Sprouts Farmers Market from an overweight rating to an equal rating and boosted their target price for the company from $21.00 to $23.00 in a report on Thursday, June 15th. Royal Bank Of Canada reiterated a buy rating and issued a $28.00 target price on shares of Sprouts Farmers Market in a report on Friday, June 30th. Finally, Wells Fargo & Company reiterated an outperform rating on shares of Sprouts Farmers Market in a report on Tuesday, June 27th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $25.00.
Sprouts Farmers Market (SFM) traded up 1.57% during mid-day trading on Thursday, reaching $18.82. 3,368,271 shares of the company were exchanged. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 21.22 and a beta of 0.54. Sprouts Farmers Market has a 1-year low of $17.38 and a 1-year high of $25.98. The company has a 50 day moving average of $19.98 and a 200-day moving average of $22.51.
Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Sprouts Farmers Market had a net margin of 2.96% and a return on equity of 18.79%. Sprouts Farmers Market’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. On average, equities research analysts forecast that Sprouts Farmers Market will post $0.93 EPS for the current year.
In related news, insider Brandon F. Lombardi sold 20,000 shares of the company’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 transaction of $486,800.00. Following the sale, the insider now directly owns 73,761 shares of the company’s stock, valued at approximately $1,795,342.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Bradley Lukow bought 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $19.80 per share, for a total transaction of $138,600.00. The disclosure for this purchase can be found here. 2.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC increased its stake in Sprouts Farmers Market by 1,093.0% during the 2nd quarter. Advisory Services Network LLC now owns 5,309 shares of the company’s stock worth $120,000 after buying an additional 4,864 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Sprouts Farmers Market by 9.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,460 shares of the company’s stock valued at $126,000 after purchasing an additional 468 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in shares of Sprouts Farmers Market in the 1st quarter valued at approximately $152,000. Asset Management One Co. Ltd. purchased a new stake in shares of Sprouts Farmers Market in the 1st quarter valued at approximately $161,000. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Sprouts Farmers Market by 2.3% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the company’s stock valued at $171,000 after purchasing an additional 170 shares during the last quarter. 88.03% of the stock is currently owned by hedge funds and other 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sprouts Farmers Market Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sprouts Farmers Market Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.