Sprouts Farmers Market Inc (NASDAQ:SFM) was downgraded by analysts at BMO Capital Markets to a “hold” rating in a report issued on Tuesday. They presently have a $24.00 price objective on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 9.99% from the company’s previous close.
A number of other equities analysts have also issued reports on SFM. Zacks Investment Research lowered Sprouts Farmers Market from a “hold” rating to a “sell” rating in a research report on Friday, January 6th. Goldman Sachs Group Inc lowered Sprouts Farmers Market from a “buy” rating to a “neutral” rating and set a $21.00 target price on the stock. in a research report on Thursday, January 19th. William Blair initiated coverage on Sprouts Farmers Market in a research report on Friday, January 20th. They issued an “outperform” rating on the stock. Wolfe Research lowered Sprouts Farmers Market to an “outperform” rating in a research report on Friday, January 27th. Finally, OTR Global raised Sprouts Farmers Market to a “neutral” rating in a research report on Thursday, February 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $25.18.
Sprouts Farmers Market (NASDAQ:SFM) opened at 21.825 on Tuesday. Sprouts Farmers Market has a 52-week low of $17.38 and a 52-week high of $30.00. The company has a 50-day moving average of $18.74 and a 200-day moving average of $20.18. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 26.295 and a beta of 0.58.
Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Thursday, February 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.00. Sprouts Farmers Market had a return on equity of 17.00% and a net margin of 3.40%. The company had revenue of $985.70 million for the quarter, compared to analyst estimates of $974.60 million. During the same period in the prior year, the company posted $0.18 EPS. Sprouts Farmers Market’s quarterly revenue was up 6.0% on a year-over-year basis. Equities research analysts expect that Sprouts Farmers Market will post $0.88 EPS for the current year.
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In related news, Director James Douglas Sanders sold 45,000 shares of the company’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $19.27, for a total transaction of $867,150.00. Following the completion of the transaction, the director now directly owns 77,810 shares in the company, valued at approximately $1,499,398.70. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 315,000 shares of company stock valued at $6,024,600. 2.60% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Mutual of America Capital Management LLC boosted its position in Sprouts Farmers Market by 1.8% in the third quarter. Mutual of America Capital Management LLC now owns 107,211 shares of the company’s stock valued at $2,214,000 after buying an additional 1,921 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in Sprouts Farmers Market during the third quarter valued at about $53,835,000. Ameriprise Financial Inc. boosted its position in Sprouts Farmers Market by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 912,381 shares of the company’s stock valued at $18,841,000 after buying an additional 26,104 shares during the last quarter. King Luther Capital Management Corp boosted its position in Sprouts Farmers Market by 15.6% in the third quarter. King Luther Capital Management Corp now owns 523,905 shares of the company’s stock valued at $10,819,000 after buying an additional 70,540 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its position in Sprouts Farmers Market by 172.9% in the third quarter. Eagle Asset Management Inc. now owns 989,891 shares of the company’s stock valued at $20,441,000 after buying an additional 627,183 shares during the last quarter. Hedge funds and other institutional investors own 91.08% 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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