Sprouts Farmers Market (SFM) Stock Price Up 12.4%

Shares of Sprouts Farmers Market Inc (NASDAQ:SFM) rose 12.4% during mid-day trading on Thursday . The stock traded as high as $24.48 and last traded at $23.83. Approximately 5,320,496 shares changed hands during trading, an increase of 192% from the average daily volume of 1,819,303 shares. The stock had previously closed at $21.20.

SFM has been the topic of several analyst reports. Susquehanna Bancshares set a $27.00 price target on shares of Sprouts Farmers Market and gave the stock a “buy” rating in a research report on Monday, May 21st. Credit Suisse Group initiated coverage on shares of Sprouts Farmers Market in a research report on Tuesday, April 17th. They set a “neutral” rating and a $26.00 price target on the stock. Zacks Investment Research raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Wednesday, May 2nd. Deutsche Bank dropped their price target on shares of Sprouts Farmers Market from $27.00 to $23.00 and set a “hold” rating on the stock in a research report on Friday, May 4th. Finally, Loop Capital set a $24.00 price target on shares of Sprouts Farmers Market and gave the stock a “hold” rating in a research report on Friday, May 4th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.39.

The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 1.35 and a beta of 0.81. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.76.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.32 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.32. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. Sprouts Farmers Market had a net margin of 3.71% and a return on equity of 24.93%. The company’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. equities analysts anticipate that Sprouts Farmers Market Inc will post 1.25 EPS for the current fiscal year.

In related news, COO James Leroy Nielsen sold 1,165 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $22.03, for a total value of $25,664.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Amin N. Maredia sold 12,303 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $22.03, for a total transaction of $271,035.09. The disclosure for this sale can be found here. 1.80% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd grew its stake in shares of Sprouts Farmers Market by 996.0% in the first quarter. Point72 Asia Hong Kong Ltd now owns 5,973 shares of the company’s stock valued at $140,000 after acquiring an additional 5,428 shares in the last quarter. TLP Group LLC grew its stake in shares of Sprouts Farmers Market by 4,534.1% in the first quarter. TLP Group LLC now owns 6,395 shares of the company’s stock valued at $150,000 after acquiring an additional 6,257 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Sprouts Farmers Market in the fourth quarter valued at about $168,000. Meeder Asset Management Inc. grew its stake in Sprouts Farmers Market by 61.3% during the first quarter. Meeder Asset Management Inc. now owns 8,712 shares of the company’s stock worth $204,000 after buying an additional 3,310 shares in the last quarter. Finally, Van Hulzen Asset Management LLC acquired a new stake in Sprouts Farmers Market during the first quarter worth about $210,000. Institutional investors and hedge funds own 92.39% of the company’s stock.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, meat and seafood, deli and baked goods, packaged groceries, vitamins and supplements, bulk foods, dairy and dairy alternatives, frozen foods, beer and wine, and natural body care and household items.

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