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The grocery store Albertsons is looking to merge with Sprouts Farmers Market
20 March 2017, 07:04 | Kelvin Horton
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Shares in Sprouts were little changed at $21.99 at 10:01 a.m.in NY, valuing the company at about $3 billion. Norges Bank purchased a new position in shares of Sprouts Farmers Market during the fourth quarter valued at $18,761,000.
Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, February 23rd. A purchase of Sprouts by Albertsons would give it a major presence in the lucrative natural and organic space and allow the company to reduce costs and boost profitability - potentially leading to lower prices for shoppers. According to the Analysts, the Low Earnings estimate for the current quarter is $0.24, while the High earnings estimate is $0.32.Comparatively, EPS for the same quarter a year ago was $0.34. Independent Portfolio Consultants Inc. now owns 8,255 shares of the company's stock worth $170,000 after buying an additional 3,585 shares in the last quarter. The low EPS estimate is $0.82, while the high EPS estimate is $1.01.
While looking at the Stock's Performance, Sprouts Farmers Market, Inc. now shows a Weekly Performance of 23.36%, where Monthly Performance is 17.13%, Quarterly performance is 8.37%, 6 Months performance is 9.99% and yearly performance percentage is -23.67%. The volume of the company in the last trading session was 14.17 Million. The 52-Week High range of the stock is $29.93, while the 52-week low range is $17.38.
In 2015, Cerberus began to prepare for an initial public offering of Boise, Idaho-based Albertsons, which now operates more than 2,200 stores, but delayed plans amid unfavorable market conditions.
Analysts estimated $0.13/share for the previous Quarter, where Sprouts Farmers Market, Inc. Eagle Asset Management Inc. boosted its stake in shares of Sprouts Farmers Market by 172.9% in the third quarter. The business had revenue of $985.70 million for the quarter, compared to the consensus estimate of $974.60 million.
SFM has been the topic of a number of analyst reports.
01/27/2017 - Sprouts Farmers Market, Inc. was downgraded to "peerperform" by analysts at Wolfe Research. They issued an "outperform" rating on the stock. These price targets are a consensus analysis of 16 brokers.
09/08/2016 - Sprouts Farmers Market, Inc. had its "buy" rating reiterated by analysts at SunTrust. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company. The Stock shows P/E value of 12.01 and Forward P/E of 13.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.60% of the company's stock. The Company categorizes the varieties of products it sells as perishable and non-perishable. That's put pressure on natural grocers, including Whole Foods Market Inc., to cut prices to better compete with the mainstream retailers. The perishable product categories include produce, meat, seafood, deli and bakery.
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