Sprouts Farmers Market (NASDAQ:SFM) Updates Q2 2024 Earnings Guidance

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.750-0.790 for the period, compared to the consensus earnings per share estimate of 0.720. The company issued revenue guidance of -. Sprouts Farmers Market also updated its FY 2024 guidance to 3.050-3.130 EPS.

Sprouts Farmers Market Price Performance

Shares of SFM traded down $1.74 during mid-day trading on Wednesday, hitting $64.29. 2,007,089 shares of the company traded hands, compared to its average volume of 1,324,226. Sprouts Farmers Market has a one year low of $32.12 and a one year high of $68.03. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $63.06 and a 200 day moving average of $52.44. The stock has a market capitalization of $6.51 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.45 and a beta of 0.50.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.70 billion for the quarter, compared to analysts' expectations of $1.69 billion. During the same period last year, the firm earned $0.42 earnings per share. The business's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts expect that Sprouts Farmers Market will post 2.95 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Evercore ISI reduced their price objective on shares of Sprouts Farmers Market from $62.00 to $61.00 and set an in-line rating on the stock in a research note on Tuesday, April 16th. Oppenheimer reaffirmed a market perform rating on shares of Sprouts Farmers Market in a research note on Monday. Bank of America raised shares of Sprouts Farmers Market from an underperform rating to a buy rating and raised their price objective for the company from $30.00 to $70.00 in a research note on Tuesday, February 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $51.14.

Insider Transactions at Sprouts Farmers Market

In other news, insider Brandon F. Lombardi sold 22,799 shares of Sprouts Farmers Market stock in a transaction on Monday, February 26th. The shares were sold at an average price of $59.98, for a total transaction of $1,367,484.02. Following the transaction, the insider now directly owns 8,328 shares of the company's stock, valued at $499,513.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, COO Nicholas Konat sold 31,846 shares of the firm's stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $62.13, for a total transaction of $1,978,591.98. Following the sale, the chief operating officer now directly owns 82,495 shares in the company, valued at $5,125,414.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brandon F. Lombardi sold 22,799 shares of the firm's stock in a transaction on Monday, February 26th. The stock was sold at an average price of $59.98, for a total transaction of $1,367,484.02. Following the sale, the insider now owns 8,328 shares in the company, valued at $499,513.44. The disclosure for this sale can be found here. Insiders have sold a total of 160,852 shares of company stock valued at $10,032,745 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

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.

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