Sprouts Farmers Market (NASDAQ:SFM) Posts Quarterly Earnings Results

Sprouts Farmers Market (NASDAQ:SFM) issued its earnings results on Monday. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.16, Briefing.com reports. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.71 EPS.

Sprouts Farmers Market Stock Up 22.2 %

Shares of SFM stock opened at $103.49 on Tuesday. The stock’s 50-day simple moving average is $80.67 and its 200-day simple moving average is $68.09. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 1.19. The firm has a market capitalization of $10.40 billion, a PE ratio of 29.19, a P/E/G ratio of 3.31 and a beta of 0.55. Sprouts Farmers Market has a fifty-two week low of $36.21 and a fifty-two week high of $103.80.

Insider Transactions at Sprouts Farmers Market

In other news, COO Nicholas Konat sold 31,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $74.14, for a total value of $2,298,340.00. Following the sale, the chief operating officer now owns 51,495 shares in the company, valued at $3,817,839.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Nicholas Konat sold 31,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $74.14, for a total value of $2,298,340.00. Following the sale, the chief operating officer now owns 51,495 shares in the company, valued at $3,817,839.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack Sinclair sold 5,714 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total value of $476,433.32. Following the completion of the sale, the chief executive officer now owns 245,288 shares in the company, valued at approximately $20,452,113.44. The disclosure for this sale can be found here. Insiders have sold 66,147 shares of company stock worth $4,999,299 over the last quarter. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SFM shares. BMO Capital Markets raised Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $40.00 to $102.00 in a research report on Tuesday. The Goldman Sachs Group boosted their price target on Sprouts Farmers Market from $78.00 to $89.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company raised Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $62.00 to $90.00 in a research report on Tuesday. Bank of America boosted their price target on Sprouts Farmers Market from $84.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Sprouts Farmers Market in a research report on Monday, April 29th. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sprouts Farmers Market has a consensus rating of “Hold” and a consensus target price of $83.50.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc, together with its subsidiaries, engages in the retailing of fresh, natural, and organic food products under the Sprouts brand in the United States. It offers perishable product categories, including fresh produce, meat and meat alternatives, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.