Royal Bank of Canada Reiterates Outperform Rating for Sprouts Farmers Market (NASDAQ:SFM)

Royal Bank of Canada reissued their outperform rating on shares of Sprouts Farmers Market (NASDAQ:SFM) in a research report report published on Thursday, February 15th. They currently have a $32.00 price objective on the stock.

SFM has been the subject of several other research reports. Jefferies Group lowered their price objective on Sprouts Farmers Market from $26.00 to $19.00 and set a hold rating for the company in a research report on Monday, October 30th. Loop Capital reduced their target price on Sprouts Farmers Market from $25.00 to $24.00 and set a hold rating on the stock in a research note on Friday, November 3rd. Stephens set a $27.00 target price on Sprouts Farmers Market and gave the company a hold rating in a research note on Wednesday, January 17th. Zacks Investment Research raised Sprouts Farmers Market from a hold rating to a buy rating and set a $23.00 target price on the stock in a research note on Saturday, November 4th. Finally, BidaskClub raised Sprouts Farmers Market from a buy rating to a strong-buy rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Sprouts Farmers Market presently has a consensus rating of Buy and a consensus target price of $26.50.

Sprouts Farmers Market (NASDAQ:SFM) traded down $0.61 during mid-day trading on Thursday, reaching $25.51. The company’s stock had a trading volume of 3,517,300 shares, compared to its average volume of 2,062,798. Sprouts Farmers Market has a 1-year low of $17.38 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 0.77. The stock has a market cap of $3,475.80, a price-to-earnings ratio of 26.30, a PEG ratio of 1.84 and a beta of 0.80.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. Sprouts Farmers Market had a return on equity of 21.00% and a net margin of 3.01%. Sprouts Farmers Market’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.13 earnings per share. sell-side analysts expect that Sprouts Farmers Market will post 1 EPS for the current fiscal year.

Sprouts Farmers Market declared that its board has authorized a share repurchase plan on Thursday, February 22nd that permits the company to repurchase $350.00 million in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

In other news, Director Shon A. Boney sold 96,945 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $28.10, for a total value of $2,724,154.50. Following the transaction, the director now owns 76,812 shares of the company’s stock, valued at $2,158,417.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Theodore Edward Frumkin II sold 36,667 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $23.93, for a total value of $877,441.31. Following the completion of the transaction, the insider now directly owns 58,912 shares in the company, valued at approximately $1,409,764.16. The disclosure for this sale can be found here. In the last three months, insiders sold 1,651,481 shares of company stock worth $42,706,303. 2.60% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in SFM. Northern Trust Corp grew its position in shares of Sprouts Farmers Market by 1.2% during the second quarter. Northern Trust Corp now owns 1,127,869 shares of the company’s stock worth $25,568,000 after purchasing an additional 13,641 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in shares of Sprouts Farmers Market by 8.5% during the second quarter. Parametric Portfolio Associates LLC now owns 149,820 shares of the company’s stock worth $3,396,000 after purchasing an additional 11,705 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Sprouts Farmers Market by 62.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,343,803 shares of the company’s stock worth $30,464,000 after purchasing an additional 514,877 shares in the last quarter. Royal Bank of Canada grew its position in shares of Sprouts Farmers Market by 67.3% during the second quarter. Royal Bank of Canada now owns 136,168 shares of the company’s stock worth $3,086,000 after purchasing an additional 54,787 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in shares of Sprouts Farmers Market during the second quarter worth about $407,000. Hedge funds and other institutional investors own 91.18% of the company’s stock.

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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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