Sprouts Farmers Market Inc (SFM) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Sprouts Farmers Market Inc (NASDAQ:SFM) have received a consensus rating of “Buy” from the twenty-five research firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.95.
Several equities analysts have issued reports on SFM shares. TheStreet upgraded shares of Sprouts Farmers Market from a “c” rating to a “b-” rating in a research note on Monday, December 4th. Northcoast Research upgraded shares of Sprouts Farmers Market from a “neutral” rating to a “buy” rating in a research note on Monday, November 20th. BidaskClub downgraded shares of Sprouts Farmers Market from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th. Susquehanna Bancshares set a $30.00 target price on shares of Sprouts Farmers Market and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Gordon Haskett upgraded shares of Sprouts Farmers Market from an “accumulate” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Wednesday, January 31st.
Sprouts Farmers Market (NASDAQ SFM) traded up $1.12 during trading hours on Friday, reaching $25.23. The company had a trading volume of 2,926,677 shares, compared to its average volume of 2,067,045. The stock has a market capitalization of $3,363.44, a price-to-earnings ratio of 22.13, a PEG ratio of 1.53 and a beta of 0.84. The company has a quick ratio of 0.23, a current ratio of 1.00 and a debt-to-equity ratio of 0.73. Sprouts Farmers Market has a 52-week low of $17.55 and a 52-week high of $28.29.
Sprouts Farmers Market declared that its Board of Directors has initiated a share buyback plan on Thursday, February 22nd that authorizes the company to repurchase $350.00 million in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In other Sprouts Farmers Market news, CFO Bradley Lukow sold 6,592 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $25.26, for a total value of $166,513.92. Following the completion of the transaction, the chief financial officer now directly owns 136,190 shares of the company’s stock, valued at $3,440,159.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amin N. Maredia sold 12,301 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $24.33, for a total transaction of $299,283.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,675,741 shares of company stock valued at $43,621,557. 2.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of SFM. Old Mutual Global Investors UK Ltd. increased its stake in shares of Sprouts Farmers Market by 60.2% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 3,457,233 shares of the company’s stock worth $84,183,000 after purchasing an additional 1,299,240 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Sprouts Farmers Market by 193.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,210,134 shares of the company’s stock worth $29,467,000 after purchasing an additional 797,935 shares in the last quarter. Smith Asset Management Group LP purchased a new position in shares of Sprouts Farmers Market during the 4th quarter worth approximately $18,929,000. Millennium Management LLC increased its stake in shares of Sprouts Farmers Market by 103.3% during the 4th quarter. Millennium Management LLC now owns 1,439,420 shares of the company’s stock worth $35,050,000 after purchasing an additional 731,398 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Sprouts Farmers Market by 49.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,009,401 shares of the company’s stock worth $37,717,000 after acquiring an additional 665,598 shares during the period. 90.96% of the stock is owned by institutional investors and hedge funds.
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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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