Sprouts Farmers Market Inc. (SFM) Receives $26.94 Average Target Price from Analysts
Sprouts Farmers Market Inc. (NASDAQ:SFM) has been given a consensus rating of “Buy” by the twenty-seven brokerages that are currently covering the stock. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $26.94.
SFM has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $33.00 price target on shares of Sprouts Farmers Market in a report on Wednesday, June 22nd. Deutsche Bank AG dropped their target price on Sprouts Farmers Market from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Thursday, July 14th. Zacks Investment Research downgraded Sprouts Farmers Market from a “hold” rating to a “sell” rating in a research note on Saturday, July 16th. JPMorgan Chase & Co. initiated coverage on Sprouts Farmers Market in a research note on Monday, July 18th. They set a “neutral” rating and a $24.00 target price on the stock. Finally, OTR Global downgraded Sprouts Farmers Market from a “mixed” rating to a “negative” rating in a research note on Wednesday, July 20th.
Shares of Sprouts Farmers Market (NASDAQ:SFM) opened at 21.74 on Wednesday. Sprouts Farmers Market has a 52-week low of $18.70 and a 52-week high of $30.00. The company’s 50-day moving average price is $20.93 and its 200-day moving average price is $23.81. The stock has a market cap of $3.23 billion, a PE ratio of 23.18 and a beta of 0.75.
Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $1,000 million for the quarter, compared to the consensus estimate of $1.04 billion. Sprouts Farmers Market had a return on equity of 17.77% and a net margin of 3.72%. Sprouts Farmers Market’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. On average, equities research analysts forecast that Sprouts Farmers Market will post $0.85 earnings per share for the current fiscal year.
In other news, CFO Bradley Lukow acquired 10,000 shares of the business’s stock in a transaction on Monday, September 12th. The stock was bought at an average cost of $19.45 per share, for a total transaction of $194,500.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.60% of the company’s stock.
A number of large investors have recently bought and sold shares of SFM. BlackRock Fund Advisors raised its stake in Sprouts Farmers Market by 241.5% in the first quarter. BlackRock Fund Advisors now owns 4,914,136 shares of the company’s stock valued at $142,707,000 after buying an additional 3,475,079 shares during the period. William Blair Investment Management LLC bought a new stake in Sprouts Farmers Market during the second quarter worth about $56,116,000. State Street Corp raised its stake in Sprouts Farmers Market by 96.7% in the first quarter. State Street Corp now owns 4,125,234 shares of the company’s stock worth $119,792,000 after buying an additional 2,028,533 shares during the period. Jennison Associates LLC raised its stake in Sprouts Farmers Market by 19.5% in the second quarter. Jennison Associates LLC now owns 6,918,927 shares of the company’s stock worth $158,443,000 after buying an additional 1,129,029 shares during the period. Finally, PGGM Investments raised its stake in Sprouts Farmers Market by 271.0% in the second quarter. PGGM Investments now owns 1,094,227 shares of the company’s stock worth $25,058,000 after buying an additional 799,249 shares during the period. Institutional investors own 93.47% of the company’s stock.
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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