Research Analysts Offer Predictions for SFM FY2024 Earnings

Sprouts Farmers Market, Inc. (NASDAQ:SFM) – Analysts at Zacks Research increased their FY2024 earnings estimates for Sprouts Farmers Market in a research note issued on Wednesday, November 13th. Zacks Research analyst S. Singh now anticipates that the company will post earnings per share of $3.67 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 equities analysts have also commented on the stock. StockNews.com lowered shares of Sprouts Farmers Market from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Royal Bank of Canada started coverage on shares of Sprouts Farmers Market in a report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 target price on the stock. Roth Mkm raised their target price on shares of Sprouts Farmers Market from $58.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Bank of America raised their target price on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Evercore ISI raised their target price on shares of Sprouts Farmers Market from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. 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.com, the company presently has a consensus rating of “Hold” and an average price target of $115.40.

Sprouts Farmers Market Price Performance

NASDAQ:SFM opened at $142.00 on Monday. Sprouts Farmers Market has a 52 week low of $40.39 and a 52 week high of $148.56. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 41.04, a P/E/G ratio of 2.15 and a beta of 0.54. The firm’s 50-day simple moving average is $118.29 and its 200 day simple moving average is $97.11. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.14. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 28.24%. The company’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share.

Insiders Place Their Bets

In other news, insider Joseph L. Hurley sold 4,956 shares of Sprouts Farmers Market stock in a transaction on Monday, November 4th. The shares were sold at an average price of $132.66, for a total value of $657,462.96. Following the completion of the sale, the insider now owns 11,184 shares in the company, valued at $1,483,669.44. The trade was a 30.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dustin Hamilton sold 500 shares of Sprouts Farmers Market stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $97.52, for a total transaction of $48,760.00. Following the completion of the sale, the insider now owns 27,188 shares of the company’s stock, valued at $2,651,373.76. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 50,648 shares of company stock worth $5,902,586. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Sprouts Farmers Market

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Accent Capital Management LLC purchased a new position in Sprouts Farmers Market during the 3rd quarter worth $25,000. Crewe Advisors LLC boosted its holdings in 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 acquiring an additional 219 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Sprouts Farmers Market during the 3rd quarter worth $38,000. Whittier Trust Co. of Nevada Inc. purchased a new position in Sprouts Farmers Market during the 2nd quarter worth $29,000. Finally, First Horizon Advisors Inc. boosted its holdings in Sprouts Farmers Market by 80.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock worth $40,000 after acquiring an additional 162 shares during the last quarter.

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.