Zacks Investment Research Upgrades Sprouts Farmers Market, Inc. (NASDAQ:SFM) to “Hold”

Sprouts Farmers Market, Inc. (NASDAQ:SFM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, August 5th.

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. “

Several other equities analysts have also commented on the company. J P Morgan Chase & Co raised Sprouts Farmers Market from a “neutral” rating to an “overweight” rating and upped their price target for the company from $24.00 to $27.00 in a research note on Friday, August 4th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sprouts Farmers Market in a research note on Thursday, August 3rd. Royal Bank Of Canada set a $28.00 price target on Sprouts Farmers Market and gave the company a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC lowered Sprouts Farmers Market from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a research note on Thursday, July 27th. Finally, TheStreet raised Sprouts Farmers Market from a “c+” rating to a “b-” rating in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. Sprouts Farmers Market presently has a consensus rating of “Buy” and a consensus price target of $25.42.

Sprouts Farmers Market (NASDAQ SFM) traded up 1.37% during mid-day trading on Friday, reaching $24.44. The company’s stock had a trading volume of 2,346,592 shares. Sprouts Farmers Market has a 12-month low of $17.38 and a 12-month high of $25.98. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 27.55 and a beta of 0.52. The firm’s 50 day moving average price is $23.87 and its 200 day moving average price is $22.27.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Sprouts Farmers Market had a return on equity of 18.79% and a net margin of 2.96%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the company posted $0.25 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities analysts predict that Sprouts Farmers Market will post $0.93 earnings per share for the current year.

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In other news, CEO Amin N. Maredia sold 13,448 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $22.71, for a total transaction of $305,404.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Dan J. Sanders sold 21,976 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $24.23, for a total value of $532,478.48. Following the transaction, the chief operating officer now directly owns 36,771 shares of the company’s stock, valued at $890,961.33. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,746 shares of company stock worth $3,004,327. 2.60% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SFM. Advisory Services Network LLC boosted its position in Sprouts Farmers Market by 1,093.0% in the second quarter. Advisory Services Network LLC now owns 5,309 shares of the company’s stock valued at $120,000 after buying an additional 4,864 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Sprouts Farmers Market by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,460 shares of the company’s stock worth $126,000 after buying an additional 468 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Sprouts Farmers Market during the first quarter worth about $152,000. Asset Management One Co. Ltd. purchased a new stake in shares of Sprouts Farmers Market during the first quarter worth about $161,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in shares of Sprouts Farmers Market by 2.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,355 shares of the company’s stock worth $170,000 after buying an additional 200 shares during the period. 87.90% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Sprouts Farmers Market (NASDAQ:SFM)

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