Sprouts Farmers Market Inc. (SFM) Short Interest Down 19.9% in September
Sprouts Farmers Market Inc. (NASDAQ:SFM) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totalling 15,382,766 shares, a drop of 19.9% from the August 31st total of 19,200,871 shares. Based on an average trading volume of 4,664,854 shares, the short-interest ratio is currently 3.3 days. Approximately 11.0% of the shares of the company are short sold.
A number of equities analysts have recently commented on the company. Jefferies Group raised Sprouts Farmers Market from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a report on Friday. Barclays PLC began coverage on Sprouts Farmers Market in a research report on Friday, September 23rd. They issued an “overweight” rating and a $24.00 price objective on the stock. Vetr downgraded Sprouts Farmers Market from a “strong-buy” rating to a “buy” rating and set a $22.94 price objective on the stock. in a research report on Monday, September 19th. Goldman Sachs Group Inc. reiterated a “buy” rating on shares of Sprouts Farmers Market in a research report on Tuesday, September 13th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $31.00 price objective (down previously from $33.00) on shares of Sprouts Farmers Market in a research report on Friday, September 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the stock. Sprouts Farmers Market currently has a consensus rating of “Buy” and a consensus target price of $27.15.
In related news, CFO Bradley Lukow purchased 2,000 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was purchased at an average cost of $20.05 per share, with a total value of $40,100.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its position in Sprouts Farmers Market by 13.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,088 shares of the company’s stock valued at $185,000 after buying an additional 936 shares during the period. Tower Research Capital LLC TRC increased its position in Sprouts Farmers Market by 9.7% in the second quarter. Tower Research Capital LLC TRC now owns 8,226 shares of the company’s stock valued at $189,000 after buying an additional 724 shares during the period. LS Investment Advisors LLC increased its position in Sprouts Farmers Market by 72.8% in the second quarter. LS Investment Advisors LLC now owns 8,588 shares of the company’s stock valued at $197,000 after buying an additional 3,619 shares during the period. Baird Financial Group Inc. bought a new position in Sprouts Farmers Market during the second quarter valued at approximately $209,000. Finally, Wrapmanager Inc. bought a new position in Sprouts Farmers Market during the second quarter valued at approximately $212,000. 93.47% of the stock is owned by institutional investors and hedge funds.
Shares of Sprouts Farmers Market (NASDAQ:SFM) opened at 20.65 on Friday. Sprouts Farmers Market has a 52-week low of $18.70 and a 52-week high of $30.00. The firm’s 50-day moving average price is $21.37 and its 200 day moving average price is $24.32. The company has a market capitalization of $3.06 billion, a PE ratio of 22.01 and a beta of 0.73.
Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Sprouts Farmers Market had a net margin of 3.72% and a return on equity of 17.77%. The business earned $1,000 million during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. The business’s revenue was up 14.3% on a year-over-year basis. On average, equities analysts forecast that Sprouts Farmers Market will post $0.85 earnings per share for the current year.
About Sprouts Farmers Market
Sprouts Farmers Market, Inc is a food retailer that offers natural and organic food, including produce, bulk foods, meat and seafood, bakery, dairy, frozen foods, body care and natural household items. The Company categorizes its products as perishable and non-perishable. Its perishable product category includes produce, meat, seafood, deli and bakery.
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