Sprouts Farmers Market (NASDAQ:SFM) Shares Gap Up on Earnings Beat

Sprouts Farmers Market, Inc. (NASDAQ:SFM - Get Free Report)'s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $64.29, but opened at $71.40. Sprouts Farmers Market shares last traded at $71.93, with a volume of 617,164 shares.

The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.00 by $0.12. Sprouts Farmers Market had a return on equity of 26.71% and a net margin of 3.79%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business posted $0.98 EPS. Sprouts Farmers Market's quarterly revenue was up 8.7% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Bank of America raised shares of Sprouts Farmers Market from an "underperform" rating to a "buy" rating and lifted their price objective for the company from $30.00 to $70.00 in a report on Tuesday, February 27th. Evercore ISI cut their price target on Sprouts Farmers Market from $62.00 to $61.00 and set an "in-line" rating on the stock in a report on Tuesday, April 16th. The Goldman Sachs Group boosted their price target on Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. BMO Capital Markets raised their price target on shares of Sprouts Farmers Market from $31.00 to $40.00 and gave the company an "underperform" rating in a report on Thursday. Finally, Oppenheimer reiterated a "market perform" rating on shares of Sprouts Farmers Market in a research note on Monday. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Sprouts Farmers Market currently has a consensus rating of "Hold" and a consensus price target of $53.50.

Insider Activity at Sprouts Farmers Market

In other news, CEO Jack Sinclair sold 31,710 shares of the business's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $63.03, for a total transaction of $1,998,681.30. Following the sale, the chief executive officer now directly owns 274,981 shares of the company's stock, valued at $17,332,052.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Brandon F. Lombardi sold 3,865 shares of the business's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $62.21, for a total transaction of $240,441.65. Following the completion of the sale, the insider now owns 8,328 shares of the company's stock, valued at $518,084.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jack Sinclair sold 31,710 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.03, for a total value of $1,998,681.30. Following the sale, the chief executive officer now owns 274,981 shares of the company's stock, valued at $17,332,052.43. The disclosure for this sale can be found here. Insiders sold 160,852 shares of company stock valued at $10,032,745 in the last three months. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Sprouts Farmers Market

Several hedge funds and other institutional investors have recently made changes to their positions in the company. VisionPoint Advisory Group LLC purchased a new stake in shares of Sprouts Farmers Market in the third quarter valued at about $25,000. Rise Advisors LLC purchased a new stake in shares of Sprouts Farmers Market in the 1st quarter valued at approximately $26,000. Blue Bell Private Wealth Management LLC acquired a new stake in shares of Sprouts Farmers Market during the 1st quarter worth approximately $36,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Sprouts Farmers Market during the 4th quarter valued at approximately $38,000. Finally, GAMMA Investing LLC acquired a new position in Sprouts Farmers Market in the fourth quarter valued at approximately $43,000.

Sprouts Farmers Market Stock Up 12.0 %

The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $7.29 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.40 and a beta of 0.50. The firm has a 50-day moving average of $63.29 and a two-hundred day moving average of $52.52.

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.