William Blair Reiterates “Buy” Rating for Sprouts Farmers Market, Inc. (SFM)
Sprouts Farmers Market, Inc. (NASDAQ:SFM)‘s stock had its “buy” rating reiterated by equities researchers at William Blair in a report issued on Friday.
Other equities analysts also recently issued research reports about the company. J P Morgan Chase & Co upgraded Sprouts Farmers Market from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $24.00 to $27.00 in a research report on Friday, August 4th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Sprouts Farmers Market in a report on Friday, May 12th. Morgan Stanley cut Sprouts Farmers Market from an “overweight” rating to an “equal” rating and increased their price target for the company from $21.00 to $23.00 in a report on Thursday, June 15th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sprouts Farmers Market in a report on Friday, April 28th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $28.00 price target on shares of Sprouts Farmers Market in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $25.42.
Shares of Sprouts Farmers Market (NASDAQ:SFM) traded down 1.22% during midday trading on Friday, reaching $19.48. The company had a trading volume of 698,903 shares. Sprouts Farmers Market has a 12-month low of $17.38 and a 12-month high of $25.98. The company has a 50 day moving average of $23.91 and a 200 day moving average of $22.43. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 21.96 and a beta of 0.52.
Sprouts Farmers Market (NASDAQ:SFM) last issued its 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. Sprouts Farmers Market had a return on equity of 18.79% and a net margin of 2.96%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The company’s revenue was up 14.8% compared to the same quarter last year. Analysts anticipate that Sprouts Farmers Market will post $0.93 EPS for the current year.
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In other news, COO Dan J. Sanders sold 21,976 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $24.23, for a total value of $532,478.48. Following the completion of the transaction, the chief operating officer now directly owns 36,771 shares in the company, valued at $890,961.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amin N. Maredia sold 13,448 shares of the stock in a transaction that occurred on 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. In the last quarter, insiders have sold 70,424 shares of company stock worth $1,690,983. 2.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted 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 last quarter. ING Groep NV purchased a new position in Sprouts Farmers Market during the first quarter worth approximately $98,411,000. Clearbridge Investments LLC raised its position in 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 in the last quarter. FMR LLC raised its position in 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 in the last quarter. Finally, PointState Capital LP purchased a new position in Sprouts Farmers Market during the second quarter worth approximately $32,954,000. Institutional investors and hedge funds own 88.09% of the company’s stock.
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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