Sprouts Farmers Market (NASDAQ:SFM) Releases FY24 Earnings Guidance

Sprouts Farmers Market (NASDAQ:SFM) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of $3.29-$3.37 for the period, compared to the consensus EPS estimate of $3.12. The company issued revenue guidance of $7.45-$7.52 billion, compared to the consensus revenue estimate of $7.41 billion. Sprouts Farmers Market also updated its FY 2024 guidance to 3.290-3.370 EPS.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SFM shares. Oppenheimer reaffirmed a market perform rating on shares of Sprouts Farmers Market in a research note on Monday, April 29th. The Goldman Sachs Group lifted their price objective on Sprouts Farmers Market from $89.00 to $111.00 and gave the stock a buy rating in a research report on Wednesday. Evercore ISI raised their price target on Sprouts Farmers Market from $84.00 to $96.00 and gave the stock an in-line rating in a research note on Tuesday. Roth Mkm boosted their price objective on shares of Sprouts Farmers Market from $58.00 to $78.00 and gave the company a neutral rating in a research report on Tuesday. Finally, Wells Fargo & Company raised shares of Sprouts Farmers Market from an underweight rating to an equal weight rating and increased their price target for the stock from $62.00 to $90.00 in a research note on Tuesday. Nine 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 MarketBeat, the company has an average rating of Hold and a consensus price target of $87.11.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ:SFM traded up $0.46 during midday trading on Thursday, reaching $100.35. 1,163,391 shares of the company’s stock traded hands, compared to its average volume of 1,365,981. The stock has a 50 day moving average of $81.43 and a 200 day moving average of $68.63. Sprouts Farmers Market has a one year low of $36.21 and a one year high of $103.80. The company has a market cap of $10.05 billion, a price-to-earnings ratio of 34.45, a P/E/G ratio of 3.38 and a beta of 0.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 1.03.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.16. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the business posted $0.71 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Sprouts Farmers Market will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Kim Coffin sold 1,322 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $75.05, for a total value of $99,216.10. Following the completion of the sale, the senior vice president now directly owns 5,500 shares of the company’s stock, valued at $412,775. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Kim Coffin sold 1,322 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $75.05, for a total value of $99,216.10. Following the completion of the transaction, the senior vice president now directly owns 5,500 shares of the company’s stock, valued at $412,775. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Nicholas Konat sold 31,000 shares of the company’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 sale, the chief operating officer now owns 51,495 shares in the company, valued at $3,817,839.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,147 shares of company stock valued at $4,999,299. 1.10% of the stock is owned by insiders.

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.