Zacks: Brokerages Expect Sprouts Farmers Market, Inc. (SFM) Will Announce Quarterly Sales of $1.16 Billion
Wall Street brokerages predict that Sprouts Farmers Market, Inc. (NASDAQ:SFM) will post sales of $1.16 billion for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Sprouts Farmers Market’s earnings, with the highest sales estimate coming in at $1.17 billion and the lowest estimate coming in at $1.16 billion. Sprouts Farmers Market posted sales of $1.03 billion during the same quarter last year, which would suggest a positive year over year growth rate of 12.6%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, August 3rd.
On average, analysts expect that Sprouts Farmers Market will report full year sales of $1.16 billion for the current financial year, with estimates ranging from $4.56 billion to $4.60 billion. For the next fiscal year, analysts expect that the business will report sales of $5.13 billion per share, with estimates ranging from $5.08 billion to $5.19 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Sprouts Farmers Market.
Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Sprouts Farmers Market had a net margin of 2.97% and a return on equity of 17.33%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS.
SFM has been the topic of several analyst reports. Zacks Investment Research raised shares of Sprouts Farmers Market from a “sell” rating to a “hold” rating in a report on Wednesday, March 22nd. Wells Fargo & Company reiterated a “buy” rating on shares of Sprouts Farmers Market in a research report on Tuesday, March 21st. Gordon Haskett assumed coverage on shares of Sprouts Farmers Market in a research report on Tuesday, May 9th. They set an “accumulate” rating and a $27.00 price target on the stock. BMO Capital Markets downgraded shares of Sprouts Farmers Market from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $21.83 to $24.00 in a research report on Tuesday, March 21st. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Sprouts Farmers Market in a research report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the stock. Sprouts Farmers Market has a consensus rating of “Hold” and an average price target of $24.90.
Sprouts Farmers Market (NASDAQ:SFM) traded up 0.986% on Friday, hitting $24.065. 1,323,155 shares of the stock were exchanged. Sprouts Farmers Market has a 1-year low of $17.38 and a 1-year high of $25.98. The company’s 50 day moving average is $23.42 and its 200 day moving average is $21.24. The stock has a market cap of $3.31 billion, a PE ratio of 28.278 and a beta of 0.51.
In related news, CEO Amin N. Maredia sold 13,448 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $22.71, for a total transaction of $305,404.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO James Leroy Nielsen sold 55,322 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $23.74, for a total value of $1,313,344.28. Following the sale, the chief operating officer now directly owns 152,430 shares of the company’s stock, valued at $3,618,688.20. The disclosure for this sale can be found here. Insiders sold a total of 119,246 shares of company stock worth $2,840,927 over the last quarter. 2.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of SFM. Vanguard Group Inc. boosted its stake in Sprouts Farmers Market by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,464,097 shares of the company’s stock worth $241,930,000 after buying an additional 46,546 shares during the last quarter. BlackRock Inc. boosted its stake in 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. Carve CapitalAB boosted its stake in Sprouts Farmers Market by 54.1% in the first quarter. Carve CapitalAB now owns 4,100,000 shares of the company’s stock worth $95,412,000 after buying an additional 1,439,258 shares during the last quarter. ING Groep NV acquired a new stake in Sprouts Farmers Market during the first quarter worth about $98,411,000. Finally, TimesSquare Capital Management LLC boosted its stake in Sprouts Farmers Market by 4.8% in the first quarter. TimesSquare Capital Management LLC now owns 3,589,600 shares of the company’s stock worth $82,992,000 after buying an additional 163,200 shares during the last quarter. 90.48% of the stock is owned by institutional investors and hedge funds.
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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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