Research Analysts Set Expectations for SFM FY2024 Earnings

Sprouts Farmers Market, Inc. (NASDAQ:SFM) – Analysts at Zacks Research lifted their FY2024 earnings estimates for shares of Sprouts Farmers Market in a research report issued on Wednesday, November 13th. Zacks Research analyst S. Singh now expects that the company will post earnings of $3.67 per share for the year, up from their prior forecast of $3.35. The consensus estimate for Sprouts Farmers Market’s current full-year earnings is $3.68 per share. Zacks Research also issued estimates for Sprouts Farmers Market’s Q4 2024 earnings at $0.70 EPS, Q1 2025 earnings at $1.28 EPS, Q2 2025 earnings at $1.10 EPS, Q1 2026 earnings at $1.40 EPS and Q2 2026 earnings at $1.20 EPS.

Several other research firms have also issued reports on SFM. BMO Capital Markets upped their target price on Sprouts Farmers Market from $102.00 to $140.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Bank of America boosted their price objective on Sprouts Farmers Market from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft increased their target price 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, July 29th. Roth Mkm boosted 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, July 30th. Finally, StockNews.com cut Sprouts Farmers Market from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Sprouts Farmers Market presently has an average rating of “Hold” and a consensus target price of $115.40.

Sprouts Farmers Market Price Performance

Shares of NASDAQ SFM opened at $141.42 on Monday. The stock has a market cap of $14.14 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.15 and a beta of 0.54. Sprouts Farmers Market has a fifty-two week low of $40.39 and a fifty-two week high of $148.56. The firm’s 50-day simple moving average is $119.12 and its 200 day simple moving average is $97.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.59 and a current ratio of 1.13.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.77 by $0.14. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Sprouts Farmers Market had a return on equity of 28.24% and a net margin of 4.73%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share.

Institutional Trading of Sprouts Farmers Market

A number of hedge funds have recently added to or reduced their stakes in SFM. Accent Capital Management LLC purchased a new stake in Sprouts Farmers Market in the 3rd quarter valued at about $25,000. Crewe Advisors LLC boosted its position in shares of Sprouts Farmers Market by 223.5% during the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock worth $27,000 after purchasing an additional 219 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Sprouts Farmers Market in the 2nd quarter valued at approximately $29,000. V Square Quantitative Management LLC acquired a new stake in Sprouts Farmers Market in the 3rd quarter valued at approximately $38,000. Finally, Quarry LP raised its position in Sprouts Farmers Market by 1,425.8% in the second quarter. Quarry LP now owns 473 shares of the company’s stock valued at $40,000 after purchasing an additional 442 shares during the period.

Insider Buying and Selling

In related news, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $101.09, for a total transaction of $577,628.26. Following the completion of the transaction, the chief executive officer now directly owns 222,432 shares of the company’s stock, valued at approximately $22,485,650.88. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dustin Hamilton sold 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $97.52, for a total value of $48,760.00. Following the completion of the transaction, the insider now directly owns 27,188 shares in the company, valued at $2,651,373.76. This trade represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,648 shares of company stock valued at $5,902,586. Company 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.