Barclays PLC initiated coverage on shares of Sprouts Farmers Market Inc. (NASDAQ:SFM) in a research note released on Friday. The brokerage issued an overweight rating and a $24.00 price target on the stock.
Several other brokerages also recently weighed in on SFM. Royal Bank Of Canada reaffirmed an outperform rating and set a $33.00 price target on shares of Sprouts Farmers Market in a report on Tuesday, August 2nd. Goldman Sachs Group Inc. reissued a buy rating on shares of Sprouts Farmers Market in a report on Tuesday, September 13th. Credit Suisse Group AG reissued a buy rating and issued a $28.00 target price on shares of Sprouts Farmers Market in a report on Monday, August 8th. JPMorgan Chase & Co. reduced their target price on Sprouts Farmers Market from $24.00 to $23.00 and set a neutral rating for the company in a report on Friday, August 5th. Finally, Piper Jaffray Cos. reissued a neutral rating and issued a $21.00 target price (down previously from $28.00) on shares of Sprouts Farmers Market in a report on Monday, August 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $27.20.
Shares of Sprouts Farmers Market (NASDAQ:SFM) traded down 0.24% during midday trading on Friday, reaching $20.54. 92,797 shares of the company traded hands. Sprouts Farmers Market has a 1-year low of $18.70 and a 1-year high of $30.00. The stock’s 50-day moving average is $21.70 and its 200-day moving average is $24.59. The stock has a market capitalization of $3.05 billion, a P/E ratio of 21.90 and a beta of 0.73.
Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The business earned $1,000 million during the quarter, compared to the consensus estimate of $1.04 billion. Sprouts Farmers Market had a return on equity of 17.77% and a net margin of 3.72%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 earnings per share. Equities analysts predict that Sprouts Farmers Market will post $0.85 EPS for the current fiscal year.
In other news, CFO Bradley Lukow acquired 2,000 shares of Sprouts Farmers Market stock in a transaction dated Friday, September 16th. The shares were acquired at an average cost of $20.05 per share, with a total value of $40,100.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.60% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in SFM. Rehmann Capital Advisory Group raised its position in Sprouts Farmers Market by 4.5% in the first quarter. Rehmann Capital Advisory Group now owns 7,948 shares of the company’s stock valued at $231,000 after buying an additional 343 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Sprouts Farmers Market by 13.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,088 shares of the company’s stock valued at $185,000 after buying an additional 936 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Sprouts Farmers Market by 9.7% in the second quarter. Tower Research Capital LLC TRC now owns 8,226 shares of the company’s stock valued at $189,000 after buying an additional 724 shares in the last quarter. LS Investment Advisors LLC raised its position in Sprouts Farmers Market by 72.8% in the second quarter. LS Investment Advisors LLC now owns 8,588 shares of the company’s stock valued at $197,000 after buying an additional 3,619 shares in the last quarter. Finally, Baird Financial Group Inc. purchased a new position in Sprouts Farmers Market during the second quarter valued at $209,000. 93.47% of the stock is currently owned by institutional investors and hedge funds.
Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc is a food retailer that offers natural and organic food, including produce, bulk foods, meat and seafood, bakery, dairy, frozen foods, body care and natural household items. The Company categorizes its products as perishable and non-perishable. Its perishable product category includes produce, meat, seafood, deli and bakery.
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