Sprouts Farmers Market (NASDAQ:SFM) Releases FY 2024 Earnings Guidance

Sprouts Farmers Market (NASDAQ:SFM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 3.640-3.680 for the period, compared to the consensus estimate of 3.410. The company issued revenue guidance of $7.7 billion-$7.7 billion, compared to the consensus revenue estimate of $7.5 billion. Sprouts Farmers Market also updated its Q4 guidance to $0.67-$0.71 EPS.

Sprouts Farmers Market Price Performance

NASDAQ SFM traded down $0.85 on Wednesday, hitting $118.84. 1,624,575 shares of the company’s stock were exchanged, compared to its average volume of 1,312,933. Sprouts Farmers Market has a 52 week low of $39.76 and a 52 week high of $121.01. The stock has a 50-day moving average of $108.49 and a 200-day moving average of $90.41. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 0.01. The stock has a market cap of $11.90 billion, a price-to-earnings ratio of 37.25, a P/E/G ratio of 2.75 and a beta of 0.56.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 27.53% and a net margin of 4.52%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 earnings per share. Analysts expect that Sprouts Farmers Market will post 3.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SFM has been the subject of several research reports. Bank of America increased their price objective on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company upgraded Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $62.00 to $90.00 in a research note on Tuesday, July 30th. Royal Bank of Canada assumed coverage on Sprouts Farmers Market in a research report on Thursday, September 12th. They set a “sector perform” rating and a $107.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Finally, Evercore ISI lifted their price target on Sprouts Farmers Market from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sprouts Farmers Market currently has an average rating of “Hold” and a consensus price target of $104.40.

Insider Transactions at Sprouts Farmers Market

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $95.52, for a total transaction of $545,801.28. Following the completion of the sale, the chief executive officer now owns 233,860 shares of the company’s stock, valued at approximately $22,338,307.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Timmi Zalatoris sold 56,800 shares of Sprouts Farmers Market stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $100.00, for a total value of $5,680,000.00. Following the completion of the transaction, the insider now directly owns 10,895 shares of the company’s stock, valued at approximately $1,089,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jack Sinclair sold 5,714 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $95.52, for a total value of $545,801.28. Following the sale, the chief executive officer now owns 233,860 shares in the company, valued at approximately $22,338,307.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,142 shares of company stock worth $12,401,112 over the last ninety days. 1.10% of the stock is owned by insiders.

Sprouts Farmers Market Company Profile

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.