Sprouts Farmers Market (NASDAQ:SFM) Shares Gap Up After Earnings Beat

Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $118.84, but opened at $135.10. Sprouts Farmers Market shares last traded at $130.18, with a volume of 655,924 shares trading hands.

The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.14. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the previous year, the business posted $0.65 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year.

Wall Street Analyst Weigh In

SFM has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, July 29th. BMO Capital Markets upped their price target on Sprouts Farmers Market from $102.00 to $140.00 and gave the company a “market perform” rating in a research note on Thursday. The Goldman Sachs Group lifted their price objective on Sprouts Farmers Market from $111.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Evercore ISI boosted their price objective on Sprouts Farmers Market from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their target price on shares of Sprouts Farmers Market from $90.00 to $130.00 and gave the company an “equal weight” rating in a research note on Thursday. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $112.20.

Insider Buying and Selling

In other news, insider Dustin Hamilton sold 500 shares of the business’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 owns 27,188 shares of the company’s stock, valued at $2,651,373.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Dustin Hamilton sold 500 shares of Sprouts Farmers Market stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total transaction of $48,760.00. Following the transaction, the insider now owns 27,188 shares in the company, valued at $2,651,373.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.52, for a total value of $545,801.28. Following the sale, the chief executive officer now directly owns 233,860 shares of the company’s stock, valued at approximately $22,338,307.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,543 shares of company stock valued at $5,751,870 in the last 90 days. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Sprouts Farmers Market

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. raised its stake in shares of Sprouts Farmers Market by 26.3% in the 3rd quarter. UMB Bank n.a. now owns 605 shares of the company’s stock valued at $67,000 after purchasing an additional 126 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Sprouts Farmers Market by 0.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 18,717 shares of the company’s stock worth $1,566,000 after buying an additional 148 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Sprouts Farmers Market by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,645 shares of the company’s stock valued at $402,000 after buying an additional 158 shares during the last quarter. Hanseatic Management Services Inc. lifted its stake in Sprouts Farmers Market by 23.3% in the 3rd quarter. Hanseatic Management Services Inc. now owns 931 shares of the company’s stock valued at $103,000 after acquiring an additional 176 shares in the last quarter. Finally, Ironwood Investment Counsel LLC boosted its position in Sprouts Farmers Market by 3.8% during the 1st quarter. Ironwood Investment Counsel LLC now owns 5,277 shares of the company’s stock worth $340,000 after acquiring an additional 195 shares during the last quarter.

Sprouts Farmers Market Stock Up 8.1 %

The firm’s 50 day moving average price is $108.91 and its two-hundred day moving average price is $90.61. 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 company has a market capitalization of $12.86 billion, a P/E ratio of 40.26, a PEG ratio of 2.75 and a beta of 0.56.

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.