Goldman Sachs Group Inc. Upgrades Sprouts Farmers Market Inc. (SFM) to Buy
Sprouts Farmers Market Inc. (NASDAQ:SFM) was upgraded by research analysts at Goldman Sachs Group Inc. from a “sell” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $29.00 price objective on the stock. Goldman Sachs Group Inc.’s target price would suggest a potential upside of 37.18% from the company’s current price.
Several other equities research analysts also recently issued reports on SFM. Royal Bank Of Canada restated a “buy” rating on shares of Sprouts Farmers Market in a research note on Saturday, April 30th. Bank of America Corp. reiterated a “buy” rating and set a $33.00 price target on shares of Sprouts Farmers Market in a research note on Tuesday, April 26th. Jefferies Group reiterated a “hold” rating and set a $25.00 price target on shares of Sprouts Farmers Market in a research note on Friday, May 6th. Sterne Agee CRT reiterated a “neutral” rating on shares of Sprouts Farmers Market in a research note on Monday, May 16th. Finally, Vetr upgraded shares of Sprouts Farmers Market from a “buy” rating to a “strong-buy” rating and set a $28.14 price target on the stock in a research note on Monday, May 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $27.15.
Sprouts Farmers Market (NASDAQ:SFM) traded down 0.75% during mid-day trading on Tuesday, hitting $21.14. 2,111,887 shares of the company were exchanged. Sprouts Farmers Market has a 12-month low of $18.70 and a 12-month high of $30.00. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 22.54 and a beta of 0.75. The stock’s 50 day moving average is $21.12 and its 200-day moving average is $24.04.
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Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $1,000 million for the quarter, compared to the consensus estimate of $1.04 billion. Sprouts Farmers Market had a net margin of 3.72% and a return on equity of 17.77%. Sprouts Farmers Market’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company posted $0.22 earnings per share. Equities research analysts predict that Sprouts Farmers Market will post $0.85 EPS for the current year.
In related news, CFO Bradley Lukow bought 2,000 shares of the firm’s stock in a transaction dated Friday, September 16th. The stock was bought at an average cost of $20.05 per share, for a total transaction of $40,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.60% of the company’s stock.
Several institutional investors have recently modified their holdings of SFM. Rock Point Advisors LLC raised its position in shares of Sprouts Farmers Market by 5.9% in the fourth quarter. Rock Point Advisors LLC now owns 212,650 shares of the company’s stock valued at $5,654,000 after buying an additional 11,815 shares in the last quarter. Farr Miller & Washington LLC DC raised its position in shares of Sprouts Farmers Market by 1.2% in the fourth quarter. Farr Miller & Washington LLC DC now owns 810,551 shares of the company’s stock valued at $21,553,000 after buying an additional 9,575 shares in the last quarter. King Luther Capital Management Corp acquired a new position in shares of Sprouts Farmers Market during the fourth quarter valued at about $5,746,000. BlackRock Advisors LLC raised its position in shares of Sprouts Farmers Market by 10.2% in the fourth quarter. BlackRock Advisors LLC now owns 586,199 shares of the company’s stock valued at $15,587,000 after buying an additional 54,049 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new position in shares of Sprouts Farmers Market during the fourth quarter valued at about $1,197,000. Institutional investors and hedge funds own 93.47% of the company’s stock.
Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc is a food retailer that offers natural and organic food, including produce, bulk foods, meat and seafood, bakery, dairy, frozen foods, body care and natural household items. The Company categorizes its products as perishable and non-perishable. Its perishable product category includes produce, meat, seafood, deli and bakery.
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