Sprouts Farmers Market (NASDAQ:SFM) Posts Quarterly Earnings Results, Beats Expectations By $0.16 EPS

Sprouts Farmers Market (NASDAQ:SFM) issued its quarterly earnings data on Monday. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.16, Briefing.com reports. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 28.19%. The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 EPS.

Sprouts Farmers Market Price Performance

SFM stock traded up $3.90 during midday trading on Wednesday, reaching $99.78. The stock had a trading volume of 1,076,516 shares, compared to its average volume of 1,355,390. Sprouts Farmers Market has a 52-week low of $36.21 and a 52-week high of $103.80. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 34.31, a price-to-earnings-growth ratio of 3.23 and a beta of 0.55. The company has a current ratio of 1.19, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $81.02 and its 200 day simple moving average is $68.41.

Analyst Ratings Changes

Several brokerages have recently weighed in on SFM. UBS Group lifted their price target on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Evercore ISI boosted their price target on Sprouts Farmers Market from $84.00 to $96.00 and gave the company an “in-line” rating in a report on Tuesday. Bank of America lifted their price objective on Sprouts Farmers Market from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Roth Mkm upped their target price on shares of Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, The Goldman Sachs Group boosted their target price on shares of Sprouts Farmers Market from $89.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Sprouts Farmers Market has a consensus rating of “Hold” and an average target price of $87.11.

Insider Buying and Selling at Sprouts Farmers Market

In other news, COO Nicholas Konat sold 31,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $74.14, for a total transaction of $2,298,340.00. Following the transaction, the chief operating officer now directly owns 51,495 shares in the company, valued at approximately $3,817,839.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Nicholas Konat sold 31,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $74.14, for a total transaction of $2,298,340.00. Following the transaction, the chief operating officer now owns 51,495 shares of the company’s stock, valued at approximately $3,817,839.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jack Sinclair sold 5,714 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total transaction of $476,433.32. Following the sale, the chief executive officer now owns 245,288 shares of the company’s stock, valued at $20,452,113.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,147 shares of company stock worth $4,999,299. Insiders own 1.10% of the company’s stock.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc, together with its subsidiaries, engages in the retailing of fresh, natural, and organic food products under the Sprouts brand in the United States. It offers perishable product categories, including fresh produce, meat and meat alternatives, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.