Wall Street analysts forecast that Sprouts Farmers Market Inc (NASDAQ:SFM) will post $1.26 billion in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Sprouts Farmers Market’s earnings, with the lowest sales estimate coming in at $1.26 billion and the highest estimate coming in at $1.27 billion. Sprouts Farmers Market reported sales of $1.14 billion in the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The business is expected to report its next earnings report on Thursday, February 28th.
According to Zacks, analysts expect that Sprouts Farmers Market will report full-year sales of $5.20 billion for the current financial year, with estimates ranging from $5.20 billion to $5.21 billion. For the next financial year, analysts expect that the business will post sales of $5.78 billion, with estimates ranging from $5.73 billion to $5.83 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Sprouts Farmers Market.
Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Thursday, November 1st. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.01. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Sprouts Farmers Market had a return on equity of 25.85% and a net margin of 3.65%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share.
SFM has been the subject of several recent analyst reports. BidaskClub upgraded Sprouts Farmers Market from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Credit Suisse Group set a $26.00 price target on Sprouts Farmers Market and gave the stock a “hold” rating in a report on Wednesday. Bank of America downgraded Sprouts Farmers Market from a “buy” rating to an “underperform” rating and lowered their price target for the stock from $35.00 to $21.00 in a report on Friday, November 30th. Oppenheimer increased their price target on Sprouts Farmers Market from $25.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, September 21st. Finally, Zacks Investment Research raised Sprouts Farmers Market from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $27.42.
In related news, Director Joe Fortunato sold 1,000 shares of the stock in a transaction that occurred on Friday, September 21st. The stock was sold at an average price of $27.52, for a total transaction of $27,520.00. Following the completion of the transaction, the director now directly owns 21,707 shares of the company’s stock, valued at $597,376.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodore Edward Frumkin II sold 53,333 shares of the stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $27.52, for a total value of $1,467,724.16. Following the transaction, the insider now directly owns 58,265 shares of the company’s stock, valued at $1,603,452.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 105,500 shares of company stock valued at $2,415,475 and have sold 239,475 shares valued at $6,618,053. 1.80% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace North America L.P. boosted its position in Sprouts Farmers Market by 79.5% during the third quarter. Marshall Wace North America L.P. now owns 149,004 shares of the company’s stock valued at $4,084,000 after purchasing an additional 65,974 shares during the last quarter. Clearbridge Investments LLC boosted its position in Sprouts Farmers Market by 39.0% during the third quarter. Clearbridge Investments LLC now owns 3,817,241 shares of the company’s stock valued at $104,631,000 after purchasing an additional 1,070,177 shares during the last quarter. Legal & General Group Plc boosted its position in Sprouts Farmers Market by 3.2% during the third quarter. Legal & General Group Plc now owns 177,629 shares of the company’s stock valued at $4,869,000 after purchasing an additional 5,465 shares during the last quarter. Rehmann Capital Advisory Group boosted its position in Sprouts Farmers Market by 2,641.0% during the third quarter. Rehmann Capital Advisory Group now owns 47,611 shares of the company’s stock valued at $1,737,000 after purchasing an additional 45,874 shares during the last quarter. Finally, Csenge Advisory Group acquired a new position in Sprouts Farmers Market during the third quarter valued at approximately $195,000. 91.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Sprouts Farmers Market stock opened at $24.45 on Friday. Sprouts Farmers Market has a 1 year low of $20.63 and a 1 year high of $29.67. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 1.57 and a beta of 0.79. The company has a quick ratio of 0.30, a current ratio of 1.15 and a debt-to-equity ratio of 0.87.
About Sprouts Farmers Market
Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, meat and seafood, deli and baked goods, packaged groceries, vitamins and supplements, bulk foods, dairy and dairy alternatives, frozen foods, beer and wine, and natural body care and household items.
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