Sprouts Farmers Market (SFM) – Research Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Sprouts Farmers Market (NASDAQ: SFM) in the last few weeks:

• 3/5/2024 – Sprouts Farmers Market had its price target raised by analysts at The Goldman Sachs Group, Inc. from $56.00 to $71.00. They now have a “buy” rating on the stock.
• 2/27/2024 – Sprouts Farmers Market was upgraded by analysts at Bank of America Co. from an “underperform” rating to a “buy” rating. They now have a $70.00 price target on the stock, up previously from $30.00.
• 2/26/2024 – Sprouts Farmers Market had its price target raised by analysts at The Goldman Sachs Group, Inc. from $49.00 to $56.00. They now have a “buy” rating on the stock.
• 2/23/2024 – Sprouts Farmers Market had its price target raised by analysts at Evercore ISI from $48.00 to $50.00. They now have an “in-line” rating on the stock.

Sprouts Farmers Market Price Performance

Shares of SFM stock traded up $0.07 during mid-day trading on Thursday, reaching $63.41. The stock had a trading volume of 326,907 shares, compared to its average volume of 1,280,779. The company has a market cap of $6.42 billion, a P/E ratio of 25.26, a price-to-earnings-growth ratio of 2.29 and a beta of 0.49. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. Sprouts Farmers Market, Inc. has a 12-month low of $32.12 and a 12-month high of $65.53. The business has a 50-day simple moving average of $52.69 and a 200 day simple moving average of $46.12.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period last year, the company posted $0.42 EPS. The company’s revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts anticipate that Sprouts Farmers Market, Inc. will post 2.95 earnings per share for the current year.

Insider Activity at Sprouts Farmers Market

In other news, Director Joe Fortunato sold 13,000 shares of Sprouts Farmers Market stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.71, for a total transaction of $828,230.00. Following the sale, the director now owns 39,395 shares in the company, valued at $2,509,855.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Joe Fortunato sold 13,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.71, for a total value of $828,230.00. Following the transaction, the director now owns 39,395 shares in the company, valued at $2,509,855.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Stacy W. Hilgendorf sold 3,774 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $62.26, for a total value of $234,969.24. Following the sale, the vice president now owns 10,748 shares of the company’s stock, valued at approximately $669,170.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,438 shares of company stock worth $2,671,125. 1.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sprouts Farmers Market

Large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Sprouts Farmers Market by 17.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 22,592 shares of the company’s stock worth $722,000 after purchasing an additional 3,389 shares during the last quarter. Natixis Advisors L.P. acquired a new position in shares of Sprouts Farmers Market in the 1st quarter valued at about $387,000. Rhumbline Advisers grew its position in shares of Sprouts Farmers Market by 1.6% during the 1st quarter. Rhumbline Advisers now owns 336,039 shares of the company’s stock valued at $10,747,000 after buying an additional 5,334 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Sprouts Farmers Market by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,142 shares of the company’s stock worth $1,316,000 after acquiring an additional 3,923 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in Sprouts Farmers Market by 26.1% in the first quarter. Great West Life Assurance Co. Can now owns 78,169 shares of the company’s stock valued at $2,588,000 after acquiring an additional 16,200 shares during the period.

Sprouts Farmers Market, Inc, together with its subsidiaries, retails fresh, natural, and organic food products in the United States. It provides perishable product categories, including fresh produce, meat, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.