Sprouts Farmers Market (NASDAQ:SFM) Issues FY 2024 Earnings Guidance

Sprouts Farmers Market (NASDAQ:SFM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.640-3.680 for the period, compared to the consensus earnings per share estimate of 3.410. The company issued revenue guidance of $7.7 billion-$7.7 billion, compared to the consensus revenue estimate of $7.5 billion. Sprouts Farmers Market also updated its Q4 guidance to $0.67-$0.71 EPS.

Sprouts Farmers Market Price Performance

Sprouts Farmers Market stock opened at $128.43 on Friday. The business’s 50-day simple moving average is $108.91 and its 200 day simple moving average is $90.61. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 0.01. The stock has a market cap of $12.86 billion, a price-to-earnings ratio of 37.12, a P/E/G ratio of 2.73 and a beta of 0.56. Sprouts Farmers Market has a 12-month low of $39.76 and a 12-month high of $135.10.

Sprouts Farmers Market (NASDAQ:SFM) last issued its earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.14. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 29.02%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the firm earned $0.65 EPS. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, research analysts anticipate that Sprouts Farmers Market will post 3.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on SFM shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada assumed coverage on Sprouts Farmers Market in a research note on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 target price on the stock. Wells Fargo & Company boosted their target price on Sprouts Farmers Market from $90.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Thursday. Evercore ISI upped their price target on Sprouts Farmers Market from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, BMO Capital Markets lifted their price objective on shares of Sprouts Farmers Market from $102.00 to $140.00 and gave the stock a “market perform” rating in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $112.20.

Insider Buying and Selling at Sprouts Farmers Market

In other news, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $95.52, for a total transaction of $545,801.28. Following the completion of the sale, the chief executive officer now owns 233,860 shares of the company’s stock, valued at $22,338,307.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Sprouts Farmers Market news, insider Dustin Hamilton sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total value of $48,760.00. Following the sale, the insider now owns 27,188 shares in the company, valued at approximately $2,651,373.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jack Sinclair sold 5,714 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.52, for a total value of $545,801.28. Following the transaction, the chief executive officer now directly owns 233,860 shares of the company’s stock, valued at approximately $22,338,307.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,543 shares of company stock valued at $5,751,870. 1.10% of the stock is currently 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.