Sprouts Farmers Market Inc (SFM) Expected to Post Quarterly Sales of $1.13 Billion

Equities research analysts forecast that Sprouts Farmers Market Inc (NASDAQ:SFM) will report sales of $1.13 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Sprouts Farmers Market’s earnings, with estimates ranging from $1.12 billion to $1.14 billion. Sprouts Farmers Market reported sales of $985.70 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.6%. The company is expected to issue its next quarterly earnings report on Thursday, February 22nd.

According to Zacks, analysts expect that Sprouts Farmers Market will report full year sales of $1.13 billion for the current fiscal year, with estimates ranging from $4.64 billion to $4.66 billion. For the next fiscal year, analysts expect that the firm will post sales of $5.24 billion per share, with estimates ranging from $5.21 billion to $5.25 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Sprouts Farmers Market.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sprouts Farmers Market had a return on equity of 21.00% and a net margin of 3.01%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the firm earned $0.16 EPS.

Several equities research analysts have weighed in on SFM shares. SunTrust Banks reaffirmed a “buy” rating and set a $27.00 price target on shares of Sprouts Farmers Market in a research report on Friday, September 15th. Jefferies Group cut their price target on Sprouts Farmers Market from $26.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, October 30th. Loop Capital cut their price target on Sprouts Farmers Market from $25.00 to $24.00 and set a “hold” rating on the stock in a research report on Friday, November 3rd. BidaskClub downgraded Sprouts Farmers Market from a “hold” rating to a “sell” rating in a research report on Monday, September 18th. Finally, Zacks Investment Research downgraded Sprouts Farmers Market from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $24.28.

In related news, COO James Leroy Nielsen sold 110,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $23.17, for a total value of $2,548,700.00. Following the transaction, the chief operating officer now directly owns 207,108 shares of the company’s stock, valued at approximately $4,798,692.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Theodore Edward Frumkin II sold 36,667 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $23.93, for a total transaction of $877,441.31. Following the completion of the transaction, the insider now directly owns 58,912 shares in the company, valued at $1,409,764.16. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its stake in Sprouts Farmers Market by 1.2% in the 2nd quarter. Northern Trust Corp now owns 1,127,869 shares of the company’s stock valued at $25,568,000 after buying an additional 13,641 shares in the last quarter. Royal Bank of Canada lifted its stake in Sprouts Farmers Market by 67.3% in the 2nd quarter. Royal Bank of Canada now owns 136,168 shares of the company’s stock valued at $3,086,000 after buying an additional 54,787 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in Sprouts Farmers Market in the 3rd quarter worth approximately $1,991,000. Verition Fund Management LLC purchased a new position in Sprouts Farmers Market in the 2nd quarter worth approximately $351,000. Finally, GSA Capital Partners LLP purchased a new position in Sprouts Farmers Market in the 2nd quarter worth approximately $369,000. 89.68% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sprouts Farmers Market (SFM) traded down $0.35 on Thursday, reaching $24.23. The company’s stock had a trading volume of 3,346,246 shares, compared to its average volume of 2,240,450. The firm has a market cap of $3,220.00, a P/E ratio of 24.98, a P/E/G ratio of 1.98 and a beta of 0.67. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.00 and a quick ratio of 0.23. Sprouts Farmers Market has a 12 month low of $17.38 and a 12 month high of $25.98.

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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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