Sprouts Farmers Market, Inc. (NASDAQ:SFM) Raised to “Overweight” at J P Morgan Chase & Co
Sprouts Farmers Market, Inc. (NASDAQ:SFM) was upgraded by equities research analysts at J P Morgan Chase & Co from a “neutral” rating to an “overweight” rating in a report released on Friday, Marketbeat Ratings reports.
SFM has been the topic of a number of other research reports. OTR Global lowered Sprouts Farmers Market to a “neutral” rating in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $25.00 target price (down previously from $26.00) on shares of Sprouts Farmers Market in a report on Friday, June 23rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sprouts Farmers Market in a report on Thursday, May 4th. Royal Bank Of Canada reiterated a “buy” rating and issued a $28.00 price objective on shares of Sprouts Farmers Market in a research report on Friday, June 30th. Finally, Morgan Stanley downgraded Sprouts Farmers Market from an “overweight” rating to an “equal” rating and raised their price objective for the stock from $21.00 to $23.00 in a research report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $25.05.
Sprouts Farmers Market (NASDAQ SFM) traded up 1.02% during mid-day trading on Friday, reaching $23.81. The company’s stock had a trading volume of 2,016,715 shares. The firm has a 50-day moving average of $23.22 and a 200 day moving average of $21.88. Sprouts Farmers Market has a 1-year low of $17.38 and a 1-year high of $25.98. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 27.98 and a beta of 0.52.
Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Sprouts Farmers Market had a return on equity of 18.79% and a net margin of 2.96%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS. Equities analysts expect that Sprouts Farmers Market will post $0.91 earnings per share for the current year.
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In other news, insider Brandon F. Lombardi sold 28,500 shares of Sprouts Farmers Market stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $24.20, for a total value of $689,700.00. Following the completion of the sale, the insider now directly owns 82,261 shares of the company’s stock, valued at approximately $1,990,716.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Amin N. Maredia sold 13,448 shares of Sprouts Farmers Market stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $22.71, for a total value of $305,404.08. The disclosure for this sale can be found here. Insiders sold a total of 119,246 shares of company stock valued at $2,840,927 over the last three months. Insiders own 2.60% of the company’s stock.
Several large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in shares of Sprouts Farmers Market by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,460 shares of the company’s stock worth $126,000 after buying an additional 468 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Sprouts Farmers Market during the first quarter worth approximately $152,000. Asset Management One Co. Ltd. bought a new stake in shares of Sprouts Farmers Market during the first quarter worth approximately $161,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Sprouts Farmers Market by 2.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,355 shares of the company’s stock worth $170,000 after buying an additional 200 shares during the period. Finally, First Quadrant L P CA boosted its stake in shares of Sprouts Farmers Market by 16.3% in the second quarter. First Quadrant L P CA now owns 7,905 shares of the company’s stock worth $179,000 after buying an additional 1,105 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.
Sprouts Farmers Market Company Profile
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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