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PHOENIX—Neal John Scott, the Chief Merchandising Officer of Sprouts Farmers Market, Inc. (NASDAQ:SFM), recently sold a portion of his holdings in the company. According to a regulatory filing, Scott sold 471 shares of the grocery chain’s common stock on March 20, totaling approximately $65,669. The shares were sold at a weighted average price of $139.43, with individual transaction prices ranging from $138.55 to $139.43. The transaction occurs as SFM trades near $142, having delivered an impressive 128% return over the past year. According to InvestingPro analysis, the stock appears overvalued at current levels, though analyst price targets range from $136 to $200.
This transaction was a broker-assisted sale intended to cover the withholding tax liability incurred upon the vesting of restricted stock units, as per the company’s equity incentive plan. Following this sale, Scott retains ownership of 23,538 shares, which includes 17,921 shares of common stock and 5,617 restricted stock units. The restricted stock units are set to vest over the next three years, contingent upon continued employment. For deeper insights into insider transactions and comprehensive analysis, InvestingPro subscribers can access detailed financial health metrics and 14 additional key insights about SFM’s performance and valuation.
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 revenues of $2 billion, above the anticipated $1.95 billion. This performance was bolstered by a 17.5% increase in total sales and a 61% rise in EPS year-over-year. Sprouts Farmers Market’s management has also provided guidance for 2025, projecting total sales growth between 10.5% to 12.5% and comparable sales growth of 4.5% to 6.5%. The company plans to open at least 35 new stores and introduce a loyalty program in the second half of the year. Meanwhile, Jefferies analyst Matt Fishbein raised the price target for Sprouts Farmers Market shares to $139.00, maintaining a Hold rating. Despite the strong financial results, the anticipated slowdown in comparable store sales growth later in the year has led to cautious investor sentiment. The company’s focus on health-conscious products and e-commerce, which topped $1 billion in sales, continues to drive its growth.
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