Sprouts Farmers Market Inc. (NASDAQ:SFM) was upgraded by stock analysts at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports.
SFM has been the subject of several other reports. Vetr cut shares of Sprouts Farmers Market from a “strong-buy” rating to a “buy” rating and set a $24.20 target price for the company. in a research note on Tuesday, September 6th. Barclays PLC initiated coverage on shares of Sprouts Farmers Market in a research note on Friday, September 23rd. They set an “overweight” rating and a $24.00 target price for the company. Deutsche Bank AG cut their target price on shares of Sprouts Farmers Market from $35.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, July 14th. Royal Bank Of Canada cut their target price on shares of Sprouts Farmers Market from $33.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, September 9th. Finally, OTR Global cut shares of Sprouts Farmers Market from a “mixed” rating to a “negative” rating in a research note on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. Sprouts Farmers Market currently has an average rating of “Buy” and a consensus target price of $27.20.
Sprouts Farmers Market (NASDAQ:SFM) opened at 19.99 on Friday. Sprouts Farmers Market has a 1-year low of $18.70 and a 1-year high of $30.00. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 21.31 and a beta of 0.73. The firm’s 50-day moving average is $21.42 and its 200-day moving average is $24.38.
Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Thursday, August 4th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm earned $1,000 million during the quarter, compared to analysts’ expectations of $1.04 billion. Sprouts Farmers Market had a net margin of 3.72% and a return on equity of 17.77%. The business’s quarterly 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 EPS. On average, equities analysts anticipate that Sprouts Farmers Market will post $0.85 EPS for the current year.
In other Sprouts Farmers Market news, CFO Bradley Lukow bought 10,000 shares of Sprouts Farmers Market stock in a transaction dated Monday, September 12th. The shares were bought at an average price of $19.45 per share, with a total value of $194,500.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its stake in shares of Sprouts Farmers Market by 241.5% in the first quarter. BlackRock Fund Advisors now owns 4,914,136 shares of the company’s stock worth $142,707,000 after buying an additional 3,475,079 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Sprouts Farmers Market during the second quarter worth $56,116,000. State Street Corp increased its stake in shares of Sprouts Farmers Market by 96.7% in the first quarter. State Street Corp now owns 4,125,234 shares of the company’s stock worth $119,792,000 after buying an additional 2,028,533 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Sprouts Farmers Market by 19.5% in the second quarter. Jennison Associates LLC now owns 6,918,927 shares of the company’s stock worth $158,443,000 after buying an additional 1,129,029 shares in the last quarter. Finally, PGGM Investments increased its stake in shares of Sprouts Farmers Market by 271.0% in the second quarter. PGGM Investments now owns 1,094,227 shares of the company’s stock worth $25,058,000 after buying an additional 799,249 shares in the last quarter. Institutional investors and hedge funds own 93.47% of the company’s stock.
About Sprouts Farmers Market
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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