Sprouts Farmers Market (NASDAQ:SFM) Updates Q3 2024 Earnings Guidance

Sprouts Farmers Market (NASDAQ:SFM) issued an update on its third quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.710-0.750 for the period, compared to the consensus earnings per share estimate of 0.690. The company issued revenue guidance of -. Sprouts Farmers Market also updated its FY 2024 guidance to 3.290-3.370 EPS.

Wall Street Analyst Weigh In

SFM has been the topic of several analyst reports. Bank of America upped 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. The Goldman Sachs Group increased their price objective on Sprouts Farmers Market from $89.00 to $111.00 and gave the company a buy rating in a research report on Wednesday. Roth Mkm lifted their price objective on Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a neutral rating in a report on Tuesday. Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an underweight rating to an equal weight rating and upped their target price for the company from $62.00 to $90.00 in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a hold rating in a research note on Monday. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $87.11.

Sprouts Farmers Market Price Performance

SFM traded up $3.48 during trading on Wednesday, reaching $99.36. 919,629 shares of the company traded hands, compared to its average volume of 1,354,315. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 1.19. The company has a market cap of $9.98 billion, a P/E ratio of 34.31, a PEG ratio of 3.23 and a beta of 0.55. The firm has a fifty day simple moving average of $81.02 and a 200 day simple moving average of $68.41. Sprouts Farmers Market has a 12-month low of $36.21 and a 12-month high of $103.80.

Sprouts Farmers Market (NASDAQ:SFM) last issued its earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.16. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Sprouts Farmers Market had a return on equity of 28.19% and a net margin of 4.52%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, equities analysts forecast that Sprouts Farmers Market will post 3.12 EPS for the current year.

Insider Activity

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $83.38, for a total transaction of $476,433.32. Following the completion of the transaction, the chief executive officer now owns 245,288 shares in the company, valued at $20,452,113.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joe Fortunato sold 5,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $78.48, for a total transaction of $392,400.00. Following the sale, the director now owns 52,966 shares in the company, valued at approximately $4,156,771.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total transaction of $476,433.32. Following the transaction, the chief executive officer now directly 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 ninety days, insiders sold 66,147 shares of company stock worth $4,999,299. 1.10% of the stock is currently owned by insiders.

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.