Sprouts Farmers Market, Inc. (NASDAQ:SFM) issued its earnings results on Thursday. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04, MarketWatch Earnings reports. Sprouts Farmers Market had a net margin of 2.96% and a return on equity of 18.79%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $0.25 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. Sprouts Farmers Market updated its FY17 guidance to $0.88-0.92 EPS.
Sprouts Farmers Market (NASDAQ SFM) traded up 1.02% during midday trading on Friday, hitting $23.81. The company’s stock had a trading volume of 2,016,715 shares. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 27.98 and a beta of 0.52. Sprouts Farmers Market has a one year low of $17.38 and a one year high of $25.98. The company’s 50-day moving average is $23.22 and its 200 day moving average is $21.88.
In other news, COO James Leroy Nielsen sold 55,322 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $23.74, for a total value of $1,313,344.28. Following the transaction, the chief operating officer now directly owns 152,430 shares of the company’s stock, valued at $3,618,688.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Amin N. Maredia sold 13,448 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $22.71, for a total value of $305,404.08. The disclosure for this sale can be found here. Insiders sold 119,246 shares of company stock worth $2,840,927 over the last three months. Corporate insiders own 2.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capstone Asset Management Co. raised its position in shares of Sprouts Farmers Market by 0.9% in the second quarter. Capstone Asset Management Co. now owns 13,670 shares of the company’s stock worth $310,000 after buying an additional 120 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Sprouts Farmers Market by 2.3% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 7,525 shares of the company’s stock worth $171,000 after buying an additional 170 shares in the last quarter. World Asset Management Inc raised its position in shares of Sprouts Farmers Market by 2.4% in the second quarter. World Asset Management Inc now owns 9,284 shares of the company’s stock worth $210,000 after buying an additional 221 shares in the last quarter. PNC Financial Services Group Inc. raised its position 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 in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Sprouts Farmers Market by 1.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 48,887 shares of the company’s stock worth $1,130,000 after buying an additional 600 shares in the last quarter. 87.44% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on SFM shares. OTR Global cut shares of Sprouts Farmers Market to a “neutral” rating in a report on Wednesday, April 26th. Zacks Investment Research raised Sprouts Farmers Market from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Thursday, April 27th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sprouts Farmers Market in a research note on Friday, April 28th. Jefferies Group LLC set a $26.00 price target on Sprouts Farmers Market and gave the stock a “buy” rating in a research note on Monday, May 1st. Finally, BMO Capital Markets set a $24.00 price target on Sprouts Farmers Market and gave the stock a “hold” rating in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $24.95.
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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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