Oppenheimer Weighs in on Sprouts Farmers Market, Inc.’s Q2 2022 Earnings (NASDAQ:SFM)

Sprouts Farmers Market, Inc. (NASDAQ:SFMGet Rating) – Analysts at Oppenheimer decreased their Q2 2022 earnings per share (EPS) estimates for shares of Sprouts Farmers Market in a report issued on Wednesday, May 4th. Oppenheimer analyst R. Parikh now anticipates that the company will earn $0.51 per share for the quarter, down from their previous estimate of $0.61. Oppenheimer also issued estimates for Sprouts Farmers Market’s Q3 2022 earnings at $0.53 EPS and FY2023 earnings at $2.30 EPS.

Sprouts Farmers Market (NASDAQ:SFMGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.07. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.65 billion. Sprouts Farmers Market had a net margin of 4.00% and a return on equity of 25.41%. Sprouts Farmers Market’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.70 EPS.

SFM has been the subject of a number of other research reports. Credit Suisse Group increased their price objective on shares of Sprouts Farmers Market from $25.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, February 28th. JPMorgan Chase & Co. raised their price target on shares of Sprouts Farmers Market from $26.00 to $31.00 in a report on Friday, February 25th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Sprouts Farmers Market from $33.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, February 23rd. Bank of America downgraded shares of Sprouts Farmers Market from a “buy” rating to an “underperform” rating and cut their price target for the stock from $40.00 to $25.00 in a report on Thursday. Finally, Gordon Haskett raised their price target on shares of Sprouts Farmers Market from $22.00 to $25.00 in a report on Monday, March 7th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.43.

SFM stock opened at $23.75 on Friday. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.90 and a beta of 0.38. The company has a current ratio of 1.11, a quick ratio of 0.59 and a debt-to-equity ratio of 0.27. Sprouts Farmers Market has a 12 month low of $21.18 and a 12 month high of $35.34. The firm has a 50-day moving average of $31.58 and a two-hundred day moving average of $28.63.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in Sprouts Farmers Market by 1.4% in the fourth quarter. BlackRock Inc. now owns 13,853,199 shares of the company’s stock valued at $411,162,000 after buying an additional 192,465 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Sprouts Farmers Market by 2.9% in the 3rd quarter. Renaissance Technologies LLC now owns 5,894,120 shares of the company’s stock valued at $136,567,000 after buying an additional 166,200 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Sprouts Farmers Market by 5.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 3,571,800 shares of the company’s stock valued at $82,759,000 after buying an additional 199,700 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sprouts Farmers Market by 4.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,967,391 shares of the company’s stock valued at $68,758,000 after buying an additional 127,264 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Sprouts Farmers Market by 10.0% in the 3rd quarter. Morgan Stanley now owns 2,806,877 shares of the company’s stock valued at $65,035,000 after buying an additional 255,671 shares in the last quarter.

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 10,166 shares of the firm’s stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $31.16, for a total value of $316,772.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Terri F. Graham sold 3,623 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $33.53, for a total transaction of $121,479.19. The disclosure for this sale can be found here. Insiders sold a total of 105,946 shares of company stock valued at $3,416,200 in the last quarter. 0.71% of the stock is owned by insiders.

Sprouts Farmers Market Company Profile (Get Rating)

Sprouts Farmers Market, Inc offers fresh, natural, and organic food products in the United States. The company offers perishable product categories, including fresh produce, meat, 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.

See Also

Earnings History and Estimates for Sprouts Farmers Market (NASDAQ:SFM)

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