Sprouts Farmers Market’s (SFM) “Buy” Rating Reiterated at SunTrust Banks, Inc.
Sprouts Farmers Market, Inc. (NASDAQ:SFM)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks, Inc. in a research note issued on Friday. They currently have a $27.00 price target on the stock. SunTrust Banks, Inc.’s price target would indicate a potential upside of 42.11% from the stock’s current price.
A number of other research analysts also recently weighed in on SFM. Royal Bank Of Canada set a $28.00 price target on shares of Sprouts Farmers Market and gave the company a “buy” rating in a report on Friday, May 19th. BMO Capital Markets set a $24.00 price target on shares of Sprouts Farmers Market and gave the company a “hold” rating in a report on Saturday, June 10th. Morgan Stanley downgraded shares of Sprouts Farmers Market from an “overweight” rating to an “equal” rating and raised their price target for the company from $21.00 to $23.00 in a report on Thursday, June 15th. Jefferies Group LLC set a $26.00 price target on shares of Sprouts Farmers Market and gave the company a “buy” rating in a report on Wednesday, June 14th. Finally, UBS AG upgraded shares of Sprouts Farmers Market from a “market perform” rating to an “outperform” rating in a report on Friday, June 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $25.11.
Sprouts Farmers Market (NASDAQ:SFM) traded up 0.37% during mid-day trading on Friday, hitting $19.00. The stock had a trading volume of 5,845,770 shares. The firm’s 50-day moving average is $22.39 and its 200 day moving average is $22.52. Sprouts Farmers Market has a one year low of $17.38 and a one year high of $25.98. The stock has a market cap of $2.58 billion, a PE ratio of 21.42 and a beta of 0.56.
Sprouts Farmers Market (NASDAQ:SFM) last issued its earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Sprouts Farmers Market had a net margin of 2.96% and a return on equity of 18.79%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Equities research analysts expect that Sprouts Farmers Market will post $0.93 EPS for the current year.
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In related news, CFO Bradley Lukow bought 7,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was bought at an average cost of $19.80 per share, with a total value of $138,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brandon F. Lombardi sold 20,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $24.34, for a total transaction of $486,800.00. Following the completion of the transaction, the insider now directly owns 73,761 shares of the company’s stock, valued at $1,795,342.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,448 shares of company stock valued at $1,158,504. Insiders own 2.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Sprouts Farmers Market by 1.0% during the second quarter. Vanguard Group Inc. now owns 10,568,169 shares of the company’s stock worth $239,580,000 after buying an additional 104,072 shares during the last quarter. BlackRock Inc. raised its stake in shares of Sprouts Farmers Market by 0.8% during the second quarter. BlackRock Inc. now owns 10,286,759 shares of the company’s stock worth $233,201,000 after buying an additional 81,799 shares during the last quarter. Carve CapitalAB raised its stake in shares of Sprouts Farmers Market by 54.1% during 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. TimesSquare Capital Management LLC raised its stake in shares of Sprouts Farmers Market by 4.8% during 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. Finally, Bank of New York Mellon Corp raised its stake in shares of Sprouts Farmers Market by 26.6% during the second quarter. Bank of New York Mellon Corp now owns 3,421,148 shares of the company’s stock worth $77,557,000 after buying an additional 719,381 shares during the last quarter. 88.09% of the stock is owned by institutional investors and hedge funds.
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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