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

Sprouts Farmers Market (NASDAQ:SFM) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 3.290-3.370 for the period, compared to the consensus earnings per share estimate of 3.130. The company issued revenue guidance of $7.5 billion-$7.5 billion, compared to the consensus revenue estimate of $7.4 billion. Sprouts Farmers Market also updated its FY24 guidance to $3.29-$3.37 EPS.

Sprouts Farmers Market Stock Performance

Shares of SFM traded down $2.04 during midday trading on Monday, reaching $84.66. 2,836,606 shares of the stock were exchanged, compared to its average volume of 1,321,200. The business’s 50-day moving average price is $80.67 and its 200 day moving average price is $68.09. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.65. Sprouts Farmers Market has a twelve month low of $36.21 and a twelve month high of $88.36. The company has a market capitalization of $8.51 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 3.31 and a beta of 0.55.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.12. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 EPS. On average, sell-side analysts expect that Sprouts Farmers Market will post 3.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SFM shares. UBS Group boosted their price target on Sprouts Farmers Market from $68.00 to $94.00 and gave the company a neutral rating in a research report on Friday, June 28th. The Goldman Sachs Group lifted their price objective on Sprouts Farmers Market from $78.00 to $89.00 and gave the company a buy rating in a report on Wednesday, July 10th. BMO Capital Markets lifted their price objective on Sprouts Farmers Market from $31.00 to $40.00 and gave the company an underperform rating in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a hold rating in a research note on Monday. Finally, Oppenheimer reissued a market perform rating on shares of Sprouts Farmers Market in a research note on Monday, April 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Sprouts Farmers Market has an average rating of Hold and a consensus target price of $68.50.

Insider Buying and Selling

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,718 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $77.07, for a total value of $440,686.26. Following the completion of the transaction, the chief executive officer now directly owns 256,716 shares in the company, valued at approximately $19,785,102.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Brandon F. Lombardi sold 5,174 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $74.97, for a total transaction of $387,894.78. Following the completion of the sale, the insider now directly owns 6,052 shares in the company, valued at approximately $453,718.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jack Sinclair sold 5,718 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $77.07, for a total value of $440,686.26. Following the sale, the chief executive officer now owns 256,716 shares of the company’s stock, valued at $19,785,102.12. The disclosure for this sale can be found here. Insiders sold 66,147 shares of company stock worth $4,999,299 in the last ninety days. Insiders own 1.10% of the company’s stock.

About Sprouts Farmers Market

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.