Sprouts Farmers Market (NASDAQ:SFM) Updates Q3 Earnings Guidance

Sprouts Farmers Market (NASDAQ:SFM) updated its third quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.71-$0.75 for the period, compared to the consensus earnings per share estimate of $0.70. Sprouts Farmers Market also updated its FY 2024 guidance to 3.290-3.370 EPS.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SFM shares. Deutsche Bank Aktiengesellschaft raised their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a hold rating in a research note on Monday. BMO Capital Markets raised their price target on Sprouts Farmers Market from $31.00 to $40.00 and gave the stock an underperform rating in a research note on Thursday, May 2nd. UBS Group lifted their price target on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the company a neutral rating in a report on Friday, June 28th. Evercore ISI lifted their price target on shares of Sprouts Farmers Market from $77.00 to $80.00 and gave the company an in-line rating in a report on Tuesday, July 16th. Finally, Oppenheimer reiterated a market perform rating on shares of Sprouts Farmers Market in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $68.50.

Sprouts Farmers Market Stock Down 2.4 %

Shares of NASDAQ SFM traded down $2.04 on Monday, reaching $84.66. 2,836,606 shares of the company’s stock traded hands, compared to its average volume of 1,321,200. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $80.56 and its two-hundred day simple moving average is $67.84. Sprouts Farmers Market has a 12 month low of $36.21 and a 12 month high of $88.36. The company has a market cap of $8.51 billion, a price-to-earnings ratio of 29.28, a price-to-earnings-growth ratio of 3.31 and a beta of 0.55.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.12. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the company earned $0.98 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts forecast that Sprouts Farmers Market will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling at Sprouts Farmers Market

In related news, COO Nicholas Konat sold 31,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $74.14, for a total value of $2,298,340.00. Following the completion of the transaction, the chief operating officer now directly owns 51,495 shares in the company, valued at approximately $3,817,839.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Kim Coffin sold 1,322 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.05, for a total transaction of $99,216.10. Following the sale, the senior vice president now owns 5,500 shares of the company’s stock, valued at approximately $412,775. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Nicholas Konat sold 31,000 shares of Sprouts Farmers Market stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $74.14, for a total transaction of $2,298,340.00. Following the completion of the sale, the chief operating officer now owns 51,495 shares of the company’s stock, valued at $3,817,839.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,147 shares of company stock worth $4,999,299. 1.10% of the stock is owned by corporate insiders.

Sprouts Farmers Market Company Profile

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.