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Brandon F. Lombardi, Chief Legal Officer at Sprouts Farmers Market, Inc. (NASDAQ:SFM), recently sold a significant portion of his holdings in the company. According to a Form 4 filing with the Securities and Exchange Commission, Lombardi sold 14,648 shares of common stock on March 17 at a price of $137.42 per share, totaling approximately $2,012,928. The transaction comes as SFM trades near $141 per share, with the stock delivering an impressive 126% return over the past year. InvestingPro analysis indicates the stock is trading above its Fair Value, with strong financial health metrics.
Earlier, on March 15, Lombardi acquired 12,001 shares of common stock as part of a performance share award, which vested based on the achievement of 2024 performance goals. This acquisition was completed at no cost, as indicated in the filing. The company’s strong performance is reflected in its market capitalization of $13.88 billion and robust financial metrics. For deeper insights into insider transactions and comprehensive analysis, InvestingPro subscribers can access detailed research reports and real-time alerts.
The sale of shares included a broker-assisted transaction to cover withholding tax liabilities incurred upon the vesting of restricted stock units and performance share awards. Following these transactions, Lombardi holds 3,405 shares, which include 703 shares of common stock and 2,702 restricted stock units. These units are set to vest over the next two years, contingent on continued employment. The stock currently trades at a P/E ratio of 37.4, reflecting market optimism about the company’s growth prospects.
In other recent news, Sprouts Farmers Market reported impressive financial results for the fourth quarter of 2024, surpassing Wall Street’s expectations. The company achieved an earnings per share (EPS) of $0.79, exceeding the forecast of $0.71, and reported revenue of $2 billion, beating the anticipated $1.95 billion. This performance reflects a 61% year-over-year increase in EPS and a 17.5% rise in total sales. Sprouts Farmers Market’s management has also provided optimistic guidance for 2025, expecting total sales growth between 10.5% to 12.5% and comparable sales growth of 4.5% to 6.5%.
Additionally, Jefferies analyst Matt Fishbein raised the price target for Sprouts Farmers Market shares from $119 to $139 while maintaining a Hold rating. This adjustment follows the company’s strong financial performance and management’s positive outlook, although a projected slowdown in comparable store sales growth in the latter half of 2025 tempers some enthusiasm. Sprouts Farmers Market continues to expand, having opened 33 new stores in 2024, and plans to open at least 35 more in 2025. The company also achieved significant milestones, including e-commerce sales exceeding $1 billion.
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