Sprouts Farmers Market (NASDAQ:SFM) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Sprouts Farmers Market (NASDAQ:SFM) issued its quarterly earnings results on Wednesday. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.14, Briefing.com reports. The company had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. Sprouts Farmers Market’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the company posted $0.65 EPS.

Sprouts Farmers Market Stock Performance

SFM stock traded up $10.35 on Thursday, hitting $129.19. The company had a trading volume of 2,698,411 shares, compared to its average volume of 1,319,573. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 0.01. Sprouts Farmers Market has a 12-month low of $39.76 and a 12-month high of $135.10. The stock has a market cap of $12.94 billion, a price-to-earnings ratio of 40.63, a P/E/G ratio of 2.75 and a beta of 0.56. The stock’s 50-day simple moving average is $108.91 and its 200 day simple moving average is $90.61.

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, Director Joe Fortunato sold 7,895 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $98.38, for a total value of $776,710.10. Following the transaction, the director now directly owns 45,071 shares of the company’s stock, valued at approximately $4,434,084.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Dustin Hamilton sold 500 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total value of $48,760.00. Following the transaction, the insider now directly owns 27,188 shares of the company’s stock, valued at approximately $2,651,373.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joe Fortunato sold 7,895 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $98.38, for a total value of $776,710.10. Following the completion of the transaction, the director now directly owns 45,071 shares in the company, valued at $4,434,084.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 65,438 shares of company stock worth $6,528,580. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Bank of America boosted their price target on Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada started coverage on Sprouts Farmers Market in a research report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 price target for the company. Wells Fargo & Company raised shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $62.00 to $90.00 in a research report on Tuesday, July 30th. Finally, Melius Research initiated coverage on shares of Sprouts Farmers Market in a report on Monday, September 23rd. They issued a “hold” rating and a $105.00 target price for the company. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Sprouts Farmers Market has a consensus rating of “Hold” and an average target price of $108.20.

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.