Sprouts Farmers Market, Inc. (SFM) Cut to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Sprouts Farmers Markets, LLC engages in the retailing of natural and organic food primarily in the United States. The Company offers fresh produce, meats, cheeses, dairy, bakery, beer and wine, bulk foods, vitamins, and supplements. Sprouts Farmers Markets, LLC is based in Phoenix, Arizona. “
A number of other brokerages also recently commented on SFM. TheStreet upgraded Sprouts Farmers Market from a c+ rating to a b- rating in a research note on Tuesday, July 25th. Jefferies Group LLC restated a buy rating and issued a $25.00 target price (down from $26.00) on shares of Sprouts Farmers Market in a research note on Friday, June 23rd. BidaskClub upgraded Sprouts Farmers Market from a hold rating to a buy rating in a research note on Wednesday, July 12th. Royal Bank Of Canada restated a buy rating and issued a $28.00 target price on shares of Sprouts Farmers Market in a research note on Friday, June 30th. Finally, Wells Fargo & Company restated a buy rating on shares of Sprouts Farmers Market in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $24.88.
Sprouts Farmers Market (SFM) traded down 0.05% during mid-day trading on Wednesday, reaching $19.00. The company’s stock had a trading volume of 1,788,591 shares. The stock’s 50-day moving average is $19.05 and its 200-day moving average is $22.22. Sprouts Farmers Market has a 12 month low of $17.38 and a 12 month high of $25.98. The firm has a market capitalization of $2.58 billion, a PE ratio of 21.42 and a beta of 0.54.
Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. Sprouts Farmers Market had a return on equity of 18.79% and a net margin of 2.96%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. On average, equities analysts anticipate that Sprouts Farmers Market will post $0.93 EPS for the current year.
In other news, insider Daniel Bruni bought 15,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average price of $19.00 per share, with a total value of $285,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brandon F. Lombardi sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $24.34, for a total value of $486,800.00. Following the sale, the insider now directly owns 73,761 shares in the company, valued at approximately $1,795,342.74. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in SFM. BlackRock Inc. grew its position in Sprouts Farmers Market by 15,641.8% in the first quarter. BlackRock Inc. now owns 10,204,960 shares of the company’s stock worth $235,938,000 after buying an additional 10,140,133 shares during the last quarter. Clearbridge Investments LLC grew its position in Sprouts Farmers Market by 239,983.3% in the first quarter. Clearbridge Investments LLC now owns 2,744,152 shares of the company’s stock worth $63,445,000 after buying an additional 2,743,009 shares during the last quarter. FMR LLC grew its position in Sprouts Farmers Market by 771.4% in the first quarter. FMR LLC now owns 1,691,438 shares of the company’s stock worth $39,106,000 after buying an additional 1,497,338 shares during the last quarter. PointState Capital LP acquired a new position in Sprouts Farmers Market in the second quarter worth approximately $32,954,000. Finally, Renaissance Technologies LLC grew its position in Sprouts Farmers Market by 79.2% in the second quarter. Renaissance Technologies LLC now owns 2,573,600 shares of the company’s stock worth $58,344,000 after buying an additional 1,137,200 shares during the last quarter. 87.66% of the stock is currently owned by hedge funds and other institutional investors.
Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.
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