Sprouts Farmers Market, Inc. (SFM) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $21.00 price objective on the stock.
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 research analysts have also weighed in on the company. BidaskClub lowered Sprouts Farmers Market from a hold rating to a sell rating in a research report on Monday, September 18th. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $27.00 target price on shares of Sprouts Farmers Market in a research report on Friday, September 15th. BMO Capital Markets set a $24.00 target price on Sprouts Farmers Market and gave the stock a hold rating in a research report on Tuesday, August 29th. William Blair reaffirmed a buy rating on shares of Sprouts Farmers Market in a research report on Friday, August 25th. Finally, Stephens assumed coverage on Sprouts Farmers Market in a research report on Friday, August 11th. They issued an equal weight rating and a $25.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $25.00.
Shares of Sprouts Farmers Market (NASDAQ SFM) traded up 1.57% during trading on Wednesday, hitting $18.82. 3,368,271 shares of the stock were exchanged. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 21.22 and a beta of 0.54. The firm has a 50 day moving average of $19.98 and a 200-day moving average of $22.51. Sprouts Farmers Market has a 12-month low of $17.38 and a 12-month high of $25.98.
Sprouts Farmers Market (NASDAQ:SFM) last issued its earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $1.17 billion. During the same period last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, analysts forecast that Sprouts Farmers Market will post $0.93 earnings per share for the current year.
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In other news, insider Brandon F. Lombardi sold 20,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $24.34, for a total transaction of $486,800.00. Following the transaction, the insider now directly owns 73,761 shares of the company’s stock, valued at $1,795,342.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel Bruni purchased 15,000 shares of the stock in a transaction dated Friday, September 15th. The shares were acquired at an average cost of $19.00 per share, for a total transaction of $285,000.00. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of SFM. Advisory Services Network LLC increased its holdings in shares of Sprouts Farmers Market by 1,093.0% during the second quarter. Advisory Services Network LLC now owns 5,309 shares of the company’s stock valued at $120,000 after purchasing an additional 4,864 shares during the period. PNC Financial Services Group Inc. boosted its stake in Sprouts Farmers Market by 9.4% during the first quarter. PNC Financial Services Group Inc. now owns 5,460 shares of the company’s stock valued at $126,000 after buying an additional 468 shares in the last quarter. Victory Capital Management Inc. bought a new position in Sprouts Farmers Market during the first quarter valued at about $152,000. Asset Management One Co. Ltd. bought a new position in Sprouts Farmers Market during the first quarter valued at about $161,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Sprouts Farmers Market by 2.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the company’s stock valued at $171,000 after buying an additional 170 shares in the last quarter. 88.03% of the stock is currently 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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