Roth Capital Has Positive Forecast for SFM FY2024 Earnings

Sprouts Farmers Market, Inc. (NASDAQ:SFM) – Equities researchers at Roth Capital raised their FY2024 EPS estimates for shares of Sprouts Farmers Market in a note issued to investors on Thursday, October 31st. Roth Capital analyst W. Kirk now forecasts that the company will earn $3.70 per share for the year, up from their prior forecast of $3.42. The consensus estimate for Sprouts Farmers Market’s current full-year earnings is $3.67 per share. Roth Capital also issued estimates for Sprouts Farmers Market’s Q4 2024 earnings at $0.73 EPS, Q3 2025 earnings at $1.12 EPS, Q4 2025 earnings at $0.91 EPS and FY2025 earnings at $4.50 EPS.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.14. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sprouts Farmers Market had a return on equity of 28.24% and a net margin of 4.73%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share.

Other equities analysts have also issued research reports about the company. Evercore ISI boosted their target price on Sprouts Farmers Market from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Melius Research initiated coverage on shares of Sprouts Farmers Market in a report on Monday, September 23rd. They set a “hold” rating and a $105.00 price objective for the company. The Goldman Sachs Group increased their price objective on shares of Sprouts Farmers Market from $127.00 to $159.00 and gave the company a “buy” rating in a research report on Friday. Bank of America lifted their target price on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets increased their price target on Sprouts Farmers Market from $102.00 to $140.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $115.40.

Sprouts Farmers Market Stock Up 1.2 %

NASDAQ:SFM opened at $131.79 on Monday. The firm has a 50-day simple moving average of $110.21 and a two-hundred day simple moving average of $91.75. The firm has a market cap of $13.18 billion, a P/E ratio of 38.09, a P/E/G ratio of 2.73 and a beta of 0.54. Sprouts Farmers Market has a fifty-two week low of $39.98 and a fifty-two week high of $135.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 1.13.

Insider Transactions at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Dustin Hamilton sold 921 shares of the company’s stock in a transaction 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 transaction, the insider now owns 25,251 shares of the company’s stock, valued at $2,868,513.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Hari K. Avula sold 2,500 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $96.50, for a total transaction of $241,250.00. Following the transaction, the director now directly owns 10,554 shares in the company, valued at approximately $1,018,461. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dustin Hamilton sold 921 shares of Sprouts Farmers Market stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $113.60, for a total value of $104,625.60. Following the completion of the transaction, the insider now owns 25,251 shares in the company, valued at $2,868,513.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,829 shares of company stock worth $5,206,068. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sprouts Farmers Market

Several hedge funds and other institutional investors have recently modified their holdings of SFM. Norden Group LLC acquired a new stake in shares of Sprouts Farmers Market in the first quarter worth $802,000. Commonwealth Equity Services LLC grew its position in Sprouts Farmers Market by 28.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 14,047 shares of the company’s stock worth $906,000 after purchasing an additional 3,095 shares during the period. Van ECK Associates Corp raised its stake in shares of Sprouts Farmers Market by 21.3% during the 1st quarter. Van ECK Associates Corp now owns 43,135 shares of the company’s stock valued at $2,781,000 after buying an additional 7,570 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Sprouts Farmers Market in the 1st quarter valued at about $223,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Sprouts Farmers Market by 14.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,657 shares of the company’s stock worth $4,556,000 after buying an additional 9,049 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.