Sprouts Farmers Market Inc (NASDAQ:SFM) Expected to Announce Quarterly Sales of $1.42 Billion

Analysts predict that Sprouts Farmers Market Inc (NASDAQ:SFM) will announce sales of $1.42 billion for the current quarter, Zacks reports. Four analysts have issued estimates for Sprouts Farmers Market’s earnings. The lowest sales estimate is $1.41 billion and the highest is $1.43 billion. Sprouts Farmers Market posted sales of $1.33 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, October 30th.

According to Zacks, analysts expect that Sprouts Farmers Market will report full-year sales of $5.62 billion for the current fiscal year, with estimates ranging from $5.57 billion to $5.71 billion. For the next financial year, analysts forecast that the business will report sales of $6.17 billion, with estimates ranging from $5.98 billion to $6.43 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Sprouts Farmers Market.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Thursday, August 1st. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). Sprouts Farmers Market had a net margin of 2.61% and a return on equity of 26.10%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $0.32 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year.

SFM has been the topic of a number of research analyst reports. BMO Capital Markets lowered Sprouts Farmers Market from a “market perform” rating to an “underperform” rating and set a $15.00 price target on the stock. in a research report on Friday, August 2nd. Oppenheimer lowered Sprouts Farmers Market from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 23rd. BidaskClub lowered Sprouts Farmers Market from a “sell” rating to a “strong sell” rating in a research report on Tuesday, September 24th. CIBC reaffirmed a “market perform” rating on shares of Sprouts Farmers Market in a research report on Tuesday, July 23rd. Finally, Zacks Investment Research lowered Sprouts Farmers Market from a “hold” rating to a “sell” rating and set a $19.00 price target on the stock. in a research report on Thursday. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $22.47.

NASDAQ:SFM traded up $0.20 during mid-day trading on Wednesday, hitting $18.50. The company had a trading volume of 1,066,037 shares, compared to its average volume of 1,650,826. Sprouts Farmers Market has a fifty-two week low of $16.46 and a fifty-two week high of $28.69. The business’s fifty day moving average is $18.67 and its two-hundred day moving average is $19.76. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.25 and a current ratio of 0.85. The firm has a market cap of $2.17 billion, a P/E ratio of 14.34, a P/E/G ratio of 2.12 and a beta of 0.37.

A number of institutional investors have recently made changes to their positions in SFM. Geode Capital Management LLC raised its position in Sprouts Farmers Market by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 1,292,059 shares of the company’s stock valued at $30,376,000 after buying an additional 87,675 shares during the last quarter. JPMorgan Chase & Co. raised its position in Sprouts Farmers Market by 531.8% in the 1st quarter. JPMorgan Chase & Co. now owns 467,464 shares of the company’s stock valued at $10,069,000 after buying an additional 393,470 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in Sprouts Farmers Market by 69.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 40,223 shares of the company’s stock valued at $866,000 after buying an additional 16,417 shares during the last quarter. California State Teachers Retirement System raised its position in Sprouts Farmers Market by 0.5% in the 1st quarter. California State Teachers Retirement System now owns 198,142 shares of the company’s stock valued at $4,268,000 after buying an additional 998 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Sprouts Farmers Market by 4,497.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 198,376 shares of the company’s stock valued at $4,274,000 after buying an additional 194,061 shares during the last quarter. 93.96% of the stock is currently owned by institutional investors and hedge funds.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, baked goods, dairy products, frozen foods, beer and wine, natural body care and household items.

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