Sprouts Farmers Market (NASDAQ:SFM) Reports Quarterly Results

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Cabbage growers market (NASDAQ: GDFGet a rating) announced its quarterly results on Wednesday. The company reported earnings per share (EPS) of $0.79 for the quarter, beating the consensus estimate of $0.72 by $0.07, MarketWatch Earnings reports. Sprouts Farmers Market posted a return on equity of 26.01% and a net margin of 4.05%. The company posted revenue of $1.64 billion in the quarter, versus a consensus estimate of $1.65 billion. In the same period a year earlier, the company had earned earnings per share of $0.70. The company’s revenue for the quarter increased by 4.2% compared to the same quarter last year. Sprouts Farmers Market updated its forecast for the second quarter to $0.49-0.53 EPS.

GDF NASDAQ traded at $0.20 during Friday trading hours, hitting $23.95. 4,464,367 shares of the company were traded, against an average volume of 1,708,991. The company’s 50-day moving average is $31.49 and its 200-day moving average is $28.64. Sprouts Farmers Market has a 12-month low of $21.18 and a 12-month high of $35.34. The company has a debt ratio of 0.27, a quick ratio of 0.59 and a current ratio of 1.11. The stock has a market capitalization of $2.65 billion, a price/earnings ratio of 10.94, a P/E/G ratio of 1.94 and a beta of 0.38.

Several equity research analysts have published reports on SFM shares. Gordon Haskett raised his price target on Sprouts Farmers Market from $22.00 to $25.00 in a Monday, March 7 report. Deutsche Bank Aktiengesellschaft raised its price target in the sprout grower market from $33.00 to $34.00 and gave the stock a “buy” rating in a Wednesday, February 23, report. JPMorgan Chase & Co. raised its price target on Sprouts Farmers Market from $26.00 to $31.00 in a Friday, February 25 report. Bank of America downgraded Sprouts Farmers Market from a “buy” rating to an “underperform” rating and lowered its price target for the stock from $40.00 to $25.00 in a report released Thursday. Finally, Credit Suisse Group raised its price target on Sprouts Farmers Market from $25.00 to $30.00 and gave the stock a “neutral” rating in a Monday, February 28 report. Three investment analysts gave the stock a sell rating, two gave the company a hold rating and two gave the company a buy rating. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.43.

Separately, director Terri F. Graham sold 3,623 shares in a trade that took place on Friday, March 4. The stock was sold at an average price of $33.53, for a total transaction of $121,479.19. The sale was disclosed in an SEC filing, available at the SEC website. Also, CEO Jack Sinclair sold 7,555 shares in a trade that took place on Thursday, March 10. The stock was sold at an average price of $30.83, for a total value of $232,920.65. Disclosure of this sale can be found here. Insiders have sold 105,946 shares of the company valued at $3,416,200 in the past three months. Insiders own 0.71% of the shares of the company.

Several hedge funds and other institutional investors have recently changed their positions in the company. JustInvest LLC purchased a new stock position in Sprouts Farmers Market during the fourth quarter for a value of approximately $264,000. BlackRock Inc. increased its stake in Sprouts Farmers Market by 1.4% during the 4th quarter. BlackRock Inc. now owns 13,853,199 shares of the company worth $411,162,000 after acquiring an additional 192,465 shares during the period. Vident Investment Advisory LLC increased its stake in Sprouts Farmers Market by 4.4% during the 4th quarter. Vident Investment Advisory LLC now owns 88,653 shares of the company worth $2,632,000 after acquiring 3,709 additional shares during the period. Wells Fargo & Company MN increased its stake in Sprouts Farmers Market by 2.9% during the 4th quarter. Wells Fargo & Company MN now owns 454,407 shares of the company worth $13,486,000 after acquiring an additional 12,666 shares during the period. Finally, Qtron Investments LLC bought a new position in Sprouts Farmers Market during Q4 worth $521,000.

About Sprouts Farmers Market (Get a rating)

Sprouts Farmers Market, Inc offers fresh, natural and organic food products in the United States. The Company offers perishable product categories including fresh produce, meat, seafood, deli, bakery, floral and dairy, and dairy alternatives; and non-perishable product categories, such as groceries, vitamins and supplements, bulk goods, frozen foods, beer and wine, and natural health products and body care.

Further reading

Earnings History for Sprouts Farmers Market (NASDAQ:SFM)



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