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PHOENIX—Coffin Kim, Senior Vice President and Chief Forager at Sprouts Farmers Market, Inc. (NASDAQ:SFM), recently executed notable stock transactions as reported in a Form 4 filing with the Securities and Exchange Commission. The transactions come as the grocery chain, now valued at nearly $14 billion, has seen its stock surge 126% over the past year.
On March 15, Kim acquired 9,992 shares of Sprouts Farmers Market common stock at no cost. This acquisition was a result of performance share awards granted in 2022, which vested based on the company’s achievement of 2024 performance goals.
Subsequently, on March 17, Kim sold 4,060 shares at a price of $137.42 per share, amounting to a total transaction value of $557,925. This sale was conducted to cover the withholding tax liability incurred upon the vesting of restricted stock units and performance share awards, as outlined by the company’s equity incentive plan.
Following these transactions, Kim holds 11,432 shares, which include 8,875 shares of common stock and 2,557 restricted stock units. The restricted stock units are set to vest in 2026 and 2027, contingent upon continued employment with the company. InvestingPro analysis shows 11 analysts have revised their earnings upwards for the upcoming period, suggesting strong confidence in the company’s trajectory.
In other recent news, Sprouts Farmers Market reported impressive fourth-quarter results for 2024, surpassing Wall Street’s expectations. The company achieved an earnings per share (EPS) of $0.79, outpacing the forecast of $0.71, and reported revenue of $2 billion, exceeding the anticipated $1.95 billion. Sprouts Farmers Market saw a 61% year-over-year increase in EPS and a 17.5% rise in total sales for the quarter. The company’s management has provided guidance for 2025 that projects total sales growth between 10.5% and 12.5% and adjusted EPS between $4.52 and $4.68. Additionally, Jefferies analyst Matt Fishbein raised the price target for Sprouts Farmers Market shares to $139 from $119, while maintaining a Hold rating. The analyst noted that the company’s recent financial performance surpassed expectations, with comparable store sales growth accelerating to 11.5%, compared to consensus estimates of around 10%. Despite the positive outlook, management anticipates that comparable store sales growth may slow to flat or low single-digit percentages in the latter half of 2025. The company also plans to open at least 35 new stores in 2025, further expanding its footprint.
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