Sprouts Farmers Market (NASDAQ:SFM) Upgraded to “Buy” at StockNews.com

Posted by on May 23rd, 2023

Sprouts Farmers Market (NASDAQ:SFM – Get Rating) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

SFM has been the subject of several other research reports. Roth Capital restated a “neutral” rating on shares of Sprouts Farmers Market in a report on Friday, March 3rd. BMO Capital Markets lifted their target price on Sprouts Farmers Market from $21.00 to $26.00 and gave the stock an “underperform” rating in a report on Monday, March 6th. Deutsche Bank Aktiengesellschaft lifted their target price on Sprouts Farmers Market from $40.00 to $45.00 in a report on Tuesday, May 2nd. JPMorgan Chase & Co. lifted their target price on Sprouts Farmers Market from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, March 8th. Finally, Evercore ISI boosted their price objective on Sprouts Farmers Market from $29.00 to $30.00 in a report on Tuesday, May 2nd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $33.75.

Sprouts Farmers Market Stock Down 2.3 %

NASDAQ SFM opened at $35.94 on Tuesday. The stock’s 50-day moving average price is $34.65 and its 200-day moving average price is $33.27. The company has a quick ratio of 0.68, a current ratio of 1.27 and a debt-to-equity ratio of 0.22. Sprouts Farmers Market has a 52 week low of $23.38 and a 52 week high of $39.99. The company has a market capitalization of $3.71 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.47 and a beta of 0.39.

Sprouts Farmers Market (NASDAQ:SFM – Get Rating) last issued its earnings results on Monday, May 1st. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.13. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. Sprouts Farmers Market had a return on equity of 26.55% and a net margin of 3.83%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.79 EPS. On average, equities research analysts predict that Sprouts Farmers Market will post 2.68 earnings per share for the current year.

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, CFO Lawrence Molloy sold 1,159 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $33.13, for a total transaction of $38,397.67. Following the sale, the chief financial officer now owns 240,891 shares in the company, valued at approximately $7,980,718.83. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Lawrence Molloy sold 1,159 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $33.13, for a total value of $38,397.67. Following the sale, the chief financial officer now owns 240,891 shares in the company, valued at $7,980,718.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack Sinclair sold 66,709 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $32.85, for a total value of $2,191,390.65. Following the completion of the sale, the chief executive officer now owns 290,928 shares in the company, valued at approximately $9,556,984.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,782 shares of company stock worth $9,677,615. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprouts Farmers Market

A number of large investors have recently bought and sold shares of SFM. Baldwin Brothers LLC MA raised its holdings in shares of Sprouts Farmers Market by 162.5% during the fourth quarter. Baldwin Brothers LLC MA now owns 1,050 shares of the company’s stock valued at $34,000 after acquiring an additional 650 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Sprouts Farmers Market during the first quarter valued at approximately $35,000. FNY Investment Advisers LLC acquired a new position in shares of Sprouts Farmers Market during the fourth quarter valued at approximately $45,000. CWM LLC raised its holdings in shares of Sprouts Farmers Market by 29.5% during the fourth quarter. CWM LLC now owns 1,956 shares of the company’s stock valued at $63,000 after acquiring an additional 445 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Sprouts Farmers Market by 27.2% during the third quarter. Bessemer Group Inc. now owns 1,978 shares of the company’s stock valued at $55,000 after acquiring an additional 423 shares during the last quarter. Institutional investors and hedge funds own 99.11% of the company’s stock.

About Sprouts Farmers Market

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Sprouts Farmers Market, Inc engages in the operation of healthy grocery stores. The firm specializes in fresh, natural and organic products. Its products include fresh produce, bulk foods, vitamins and supplements, grocery, meat and seafood, deli, bakery, dairy, frozen foods, body care and natural household items.

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