Credit Suisse Group Initiates Coverage on Sprouts Farmers Market (SFM)

Research analysts at Credit Suisse Group assumed coverage on shares of Sprouts Farmers Market (NASDAQ:SFM) in a note issued to investors on Tuesday. The brokerage set a “neutral” rating and a $26.00 price target on the stock. Credit Suisse Group’s target price suggests a potential upside of 4.84% from the stock’s previous close.

SFM has been the topic of a number of other reports. Zacks Investment Research cut Sprouts Farmers Market from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Northcoast Research set a $32.00 price objective on Sprouts Farmers Market and gave the company a “buy” rating in a research note on Tuesday, February 27th. Citigroup raised their price objective on Sprouts Farmers Market from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. BMO Capital Markets set a $29.00 price objective on Sprouts Farmers Market and gave the company a “hold” rating in a research note on Tuesday, February 27th. Finally, Stephens set a $25.00 price objective on Sprouts Farmers Market and gave the company a “hold” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $27.05.

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NASDAQ SFM traded up $0.21 during trading hours on Tuesday, reaching $24.80. 1,129,922 shares of the stock traded hands, compared to its average volume of 1,882,471. Sprouts Farmers Market has a 1 year low of $17.55 and a 1 year high of $28.29. The company has a quick ratio of 0.23, a current ratio of 1.00 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3,157.97, a price-to-earnings ratio of 24.55, a PEG ratio of 1.45 and a beta of 0.89.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.01. Sprouts Farmers Market had a return on equity of 21.81% and a net margin of 3.40%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter last year, the business posted $0.13 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. equities analysts expect that Sprouts Farmers Market will post 1.27 earnings per share for the current fiscal year.

Sprouts Farmers Market announced that its board has initiated a stock buyback program on Thursday, February 22nd that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other Sprouts Farmers Market news, CEO Amin N. Maredia sold 142,454 shares of Sprouts Farmers Market stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $25.43, for a total transaction of $3,622,605.22. Following the sale, the chief executive officer now directly owns 388,311 shares of the company’s stock, valued at approximately $9,874,748.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Amin N. Maredia sold 39,559 shares of Sprouts Farmers Market stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $23.13, for a total value of $914,999.67. Following the sale, the chief executive officer now directly owns 332,759 shares in the company, valued at $7,696,715.67. The disclosure for this sale can be found here. Insiders sold 858,021 shares of company stock worth $23,347,835 over the last three months. 1.80% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. AGF Investments Inc. boosted its position in Sprouts Farmers Market by 6.0% during the 4th quarter. AGF Investments Inc. now owns 33,824 shares of the company’s stock valued at $824,000 after acquiring an additional 1,913 shares in the last quarter. LS Investment Advisors LLC boosted its position in Sprouts Farmers Market by 28.5% during the 4th quarter. LS Investment Advisors LLC now owns 12,562 shares of the company’s stock valued at $306,000 after acquiring an additional 2,785 shares in the last quarter. AE Wealth Management LLC boosted its position in Sprouts Farmers Market by 6.7% during the 4th quarter. AE Wealth Management LLC now owns 51,660 shares of the company’s stock valued at $1,258,000 after acquiring an additional 3,238 shares in the last quarter. Geode Capital Management LLC boosted its position in Sprouts Farmers Market by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,113,252 shares of the company’s stock valued at $27,106,000 after acquiring an additional 3,336 shares in the last quarter. Finally, Swiss National Bank boosted its position in Sprouts Farmers Market by 2.0% during the 4th quarter. Swiss National Bank now owns 220,250 shares of the company’s stock valued at $5,363,000 after acquiring an additional 4,300 shares in the last quarter. 92.54% of the stock is currently owned by institutional investors and hedge funds.

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Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.

Analyst Recommendations for Sprouts Farmers Market (NASDAQ:SFM)

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