Sprouts Farmers Market, Inc. (NASDAQ:SFM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Sprouts Farmers Markets, LLC engages in the retailing of natural and organic food primarily in the United States. The Company offers fresh produce, meats, cheeses, dairy, bakery, beer and wine, bulk foods, vitamins, and supplements. Sprouts Farmers Markets, LLC is based in Phoenix, Arizona. “
SFM has been the topic of several other reports. Royal Bank Of Canada set a $28.00 price objective on shares of Sprouts Farmers Market and gave the company a “buy” rating in a report on Friday, May 19th. Wells Fargo & Company restated a “buy” rating on shares of Sprouts Farmers Market in a report on Thursday, February 23rd. Oppenheimer Holdings, Inc. upgraded shares of Sprouts Farmers Market from a “market perform” rating to an “outperform” rating and set a $24.00 price objective on the stock in a report on Friday, June 16th. Jefferies Group LLC restated a “buy” rating and issued a $22.00 price objective on shares of Sprouts Farmers Market in a report on Monday, March 20th. Finally, Barclays PLC restated a “sell” rating and issued a $24.00 price objective on shares of Sprouts Farmers Market in a report on Monday, March 20th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $24.95.
Sprouts Farmers Market (NASDAQ SFM) opened at 21.38 on Tuesday. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 25.12 and a beta of 0.50. The firm has a 50-day moving average of $23.63 and a 200 day moving average of $21.19. Sprouts Farmers Market has a 52-week low of $17.38 and a 52-week high of $25.98.
Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings data on Thursday, May 4th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.04. Sprouts Farmers Market had a net margin of 2.97% and a return on equity of 17.33%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business posted $0.30 earnings per share. Sprouts Farmers Market’s revenue was up 13.8% compared to the same quarter last year. On average, equities research analysts forecast that Sprouts Farmers Market will post $0.91 earnings per share for the current year.
In other news, CEO Amin N. Maredia sold 10,043 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $23.01, for a total transaction of $231,089.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brandon F. Lombardi sold 28,500 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $24.20, for a total transaction of $689,700.00. Following the sale, the insider now directly owns 82,261 shares of the company’s stock, valued at approximately $1,990,716.20. The disclosure for this sale can be found here. Insiders have sold 115,841 shares of company stock valued at $2,766,612 in the last three months. 2.60% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Sprouts Farmers Market during the fourth quarter valued at about $404,000. Comerica Bank increased its stake in shares of Sprouts Farmers Market by 3.9% in the fourth quarter. Comerica Bank now owns 80,261 shares of the company’s stock valued at $1,599,000 after buying an additional 2,984 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of Sprouts Farmers Market by 9.2% in the fourth quarter. Baird Financial Group Inc. now owns 12,419 shares of the company’s stock valued at $235,000 after buying an additional 1,044 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of Sprouts Farmers Market by 5.5% in the fourth quarter. Gabelli Funds LLC now owns 96,100 shares of the company’s stock valued at $1,818,000 after buying an additional 5,000 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in shares of Sprouts Farmers Market by 13.5% in the fourth quarter. Brown Advisory Inc. now owns 11,350 shares of the company’s stock valued at $215,000 after buying an additional 1,350 shares in the last quarter. 91.41% of the stock is owned by institutional investors.
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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