Sprouts Farmers Market, Inc. (SFM) Receives New Coverage from Analysts at Susquehanna Bancshares Inc
Research analysts at Susquehanna Bancshares Inc assumed coverage on shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) in a note issued to investors on Monday. The brokerage set a “positive” rating and a $23.00 price target on the stock. Susquehanna Bancshares Inc’s price objective would suggest a potential upside of 22.60% from the stock’s previous close.
SFM has been the topic of a number of other reports. Wells Fargo & Company restated an “outperform” rating on shares of Sprouts Farmers Market in a research report on Tuesday, June 27th. Zacks Investment Research lowered shares of Sprouts Farmers Market from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. TheStreet upgraded shares of Sprouts Farmers Market from a “c+” rating to a “b-” rating in a research report on Tuesday, July 25th. Jefferies Group LLC restated a “buy” rating and set a $25.00 price target (down from $26.00) on shares of Sprouts Farmers Market in a research report on Friday, June 23rd. Finally, Deutsche Bank AG restated a “hold” rating and set a $24.00 price target (up from $22.00) on shares of Sprouts Farmers Market in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.88.
Shares of Sprouts Farmers Market (NASDAQ SFM) traded down 2.65% on Monday, hitting $18.75. 2,143,891 shares of the company were exchanged. The firm’s 50-day moving average is $19.18 and its 200-day moving average is $22.36. The stock has a market capitalization of $2.54 billion, a PE ratio of 21.14 and a beta of 0.54. Sprouts Farmers Market has a 52-week low of $17.38 and a 52-week high of $25.98.
Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm had revenue of $1.18 billion for 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%. Sprouts Farmers Market’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 earnings per share. Equities research analysts predict that Sprouts Farmers Market will post $0.93 earnings per share for the current year.
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In related news, CFO Bradley Lukow acquired 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average cost of $19.80 per share, for a total transaction of $138,600.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brandon F. Lombardi sold 20,000 shares of the company’s stock in a transaction that occurred on 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 owns 73,761 shares in the company, valued at $1,795,342.74. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in SFM. Russell Investments Group Ltd. increased its stake in Sprouts Farmers Market by 14.7% during the 1st quarter. Russell Investments Group Ltd. now owns 24,050 shares of the company’s stock worth $556,000 after buying an additional 3,091 shares during the period. UBS Asset Management Americas Inc. increased its stake in Sprouts Farmers Market by 48.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 108,829 shares of the company’s stock worth $2,516,000 after buying an additional 35,328 shares during the period. Karp Capital Management Corp purchased a new stake in Sprouts Farmers Market during the 1st quarter worth approximately $564,000. Parametric Portfolio Associates LLC increased its stake in Sprouts Farmers Market by 75.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 138,115 shares of the company’s stock worth $3,193,000 after buying an additional 59,418 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Sprouts Farmers Market by 28.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 12,117 shares of the company’s stock worth $280,000 after buying an additional 2,674 shares during the period. 87.66% of the stock is currently owned by hedge funds and other institutional investors.
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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