The Sprouts Farmers Market Inc. (SFM) Downgraded by Goldman Sachs Group Inc.

The Sprouts Farmers Market Inc. (SFM) Downgraded by Goldman Sachs Group Inc.

Sprouts Farmers Market Inc. (NASDAQ:SFM) was downgraded by equities researchers at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a report released on Thursday.

Several other equities analysts have also commented on the stock. Barclays PLC assumed coverage on shares of Sprouts Farmers Market in a research report on Friday, September 23rd. They set an “overweight” rating and a $24.00 price target for the company. Guggenheim restated a “neutral” rating on shares of Sprouts Farmers Market in a research report on Monday, November 7th. Jefferies Group restated a “buy” rating and set a $23.00 price target (down previously from $24.00) on shares of Sprouts Farmers Market in a research report on Monday, November 7th. Bank of America Corp. set a $28.00 price objective on shares of Sprouts Farmers Market and gave the stock a “buy” rating in a report on Sunday, November 6th. Finally, Zacks Investment Research raised shares of Sprouts Farmers Market from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Sprouts Farmers Market presently has a consensus rating of “Hold” and an average target price of $26.50.

Sprouts Farmers Market (NASDAQ:SFM) opened at 20.20 on Thursday. The firm’s 50-day moving average is $20.03 and its 200 day moving average is $21.43. Sprouts Farmers Market has a 12-month low of $18.70 and a 12-month high of $30.00. The stock has a market capitalization of $2.88 billion, a P/E ratio of 22.72 and a beta of 0.58.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Thursday, November 3rd. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by $0.01. Sprouts Farmers Market had a net margin of 3.40% and a return on equity of 17.00%. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts anticipate that Sprouts Farmers Market will post $0.84 earnings per share for the current year.

In other news, Director James Douglas Sanders sold 45,000 shares of the company’s stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $19.27, for a total value of $867,150.00. Following the transaction, the director now owns 77,810 shares in the company, valued at approximately $1,499,398.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brandon F. Lombardi sold 22,959 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $21.03, for a total value of $482,827.77. Following the completion of the transaction, the insider now owns 30,118 shares in the company, valued at approximately $633,381.54. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of SFM. Mutual of America Capital Management LLC increased its position in Sprouts Farmers Market by 1.8% in the third quarter. Mutual of America Capital Management LLC now owns 107,211 shares of the company’s stock worth $2,214,000 after buying an additional 1,921 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in Sprouts Farmers Market during the third quarter worth approximately $53,835,000. Ameriprise Financial Inc. increased its position in Sprouts Farmers Market by 2.9% in the third quarter. Ameriprise Financial Inc. now owns 912,381 shares of the company’s stock worth $18,841,000 after buying an additional 26,104 shares in the last quarter. Eagle Asset Management Inc. increased its position in Sprouts Farmers Market by 172.9% in the third quarter. Eagle Asset Management Inc. now owns 989,891 shares of the company’s stock worth $20,441,000 after buying an additional 627,183 shares in the last quarter. Finally, State of Tennessee Treasury Department purchased a new position in Sprouts Farmers Market during the third quarter worth approximately $3,280,000. Institutional investors own 92.14% of the company’s stock.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc is a food retailer that offers natural and organic food, including produce, bulk foods, meat and seafood, bakery, dairy, frozen foods, body care and natural household items. The Company categorizes its products as perishable and non-perishable. Its perishable product category includes produce, meat, seafood, deli and bakery.

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