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

Sprouts Farmers Market (NASDAQ:SFM) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.640-3.680 for the period, compared to the consensus EPS 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 Stock Down 0.7 %

NASDAQ:SFM traded down $0.85 during mid-day trading on Wednesday, reaching $118.84. The stock had a trading volume of 1,624,575 shares, compared to its average volume of 1,312,933. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.03 and a quick ratio of 0.44. The stock’s 50 day simple moving average is $108.49 and its two-hundred day simple moving average is $90.41. Sprouts Farmers Market has a 1-year low of $39.76 and a 1-year high of $121.01. The company has a market capitalization of $11.90 billion, a price-to-earnings ratio of 37.25, a price-to-earnings-growth ratio of 2.75 and a beta of 0.56.

Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Monday, July 29th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.78 by $0.16. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates 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 was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 earnings per share. Equities analysts anticipate that Sprouts Farmers Market will post 3.39 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SFM. 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 report on Tuesday, October 22nd. Melius Research started coverage on shares of Sprouts Farmers Market in a research report on Monday, September 23rd. They issued a “hold” rating and a $105.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Sprouts Farmers Market from $111.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company raised shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $62.00 to $90.00 in a research note on Tuesday, July 30th. Finally, Roth Mkm increased their target price on shares of Sprouts Farmers Market from $58.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Sprouts Farmers Market presently has an average rating of “Hold” and an average price target of $104.40.

Insider Buying and Selling at Sprouts Farmers Market

In related news, insider Dustin Hamilton sold 921 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $113.60, for a total value of $104,625.60. Following the completion of the sale, the insider now directly owns 25,251 shares in the company, valued at approximately $2,868,513.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Sprouts Farmers Market news, insider Dustin Hamilton sold 921 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $113.60, for a total transaction of $104,625.60. Following the completion of the sale, the insider now directly owns 25,251 shares in the company, valued at $2,868,513.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $95.52, for a total value of $545,801.28. Following the completion of the transaction, the chief executive officer now owns 233,860 shares in the company, valued at $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 a total of 124,142 shares of company stock worth $12,401,112 over the last three months. Corporate 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.