Joe Fortunato Sells 13,000 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) Stock

Sprouts Farmers Market, Inc. (NASDAQ:SFMGet Free Report) Director Joe Fortunato sold 13,000 shares of Sprouts Farmers Market stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.71, for a total transaction of $828,230.00. Following the completion of the sale, the director now owns 39,395 shares in the company, valued at approximately $2,509,855.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Sprouts Farmers Market Trading Down 0.0 %

Sprouts Farmers Market stock opened at $63.31 on Friday. Sprouts Farmers Market, Inc. has a 12 month low of $32.12 and a 12 month high of $65.53. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 2.31 and a beta of 0.49. The business’s fifty day simple moving average is $53.00 and its two-hundred day simple moving average is $46.24. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12.

Sprouts Farmers Market (NASDAQ:SFMGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the business posted $0.42 EPS. Sprouts Farmers Market’s revenue was up 7.7% compared to the same quarter last year. As a group, equities analysts predict that Sprouts Farmers Market, Inc. will post 2.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sprouts Farmers Market

A number of institutional investors have recently made changes to their positions in the company. Covestor Ltd increased its holdings in Sprouts Farmers Market by 13,150.0% in the 2nd quarter. Covestor Ltd now owns 1,060 shares of the company’s stock worth $39,000 after buying an additional 1,052 shares in the last quarter. Bank of Montreal Can purchased a new stake in Sprouts Farmers Market in the second quarter worth approximately $787,000. Handelsbanken Fonder AB grew its position in Sprouts Farmers Market by 43.4% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,321,800 shares of the company’s stock worth $56,573,000 after purchasing an additional 400,000 shares during the period. Boston Trust Walden Corp lifted its holdings in shares of Sprouts Farmers Market by 52.9% during the 3rd quarter. Boston Trust Walden Corp now owns 1,459,776 shares of the company’s stock valued at $62,478,000 after buying an additional 505,028 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Sprouts Farmers Market by 405.7% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 155,087 shares of the company’s stock worth $6,638,000 after buying an additional 124,417 shares during the last quarter.

Wall Street Analysts Forecast Growth

SFM has been the subject of several research analyst reports. Bank of America upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $70.00 in a report on Tuesday, February 27th. Evercore ISI raised their target price on Sprouts Farmers Market from $48.00 to $50.00 and gave the company an “in-line” rating in a research note on Friday, February 23rd. StockNews.com cut Sprouts Farmers Market from a “buy” rating to a “hold” rating in a research note on Sunday, December 3rd. Finally, The Goldman Sachs Group raised their price objective on Sprouts Farmers Market from $56.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $49.57.

View Our Latest Stock Analysis on Sprouts Farmers Market

About Sprouts Farmers Market

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Sprouts Farmers Market (NASDAQ:SFM)

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