PHOENIX—Joseph D. O'Leary, a director at Sprouts Farmers (NASDAQ:SFM) Market, Inc. (NASDAQ:SFM), recently sold shares in the company, according to a filing with the Securities and Exchange Commission. The transaction, completed on December 3, involved the sale of 350 shares at a price of $150.1129 per share, totaling $52,539. The sale comes as SFM trades near its 52-week high of $155.64, with the stock delivering an impressive 233% return over the past year.
This sale was conducted through The O'Leary Family Trust, of which O'Leary is a trustee and beneficiary along with his immediate family. Following the transaction, O'Leary no longer holds any shares indirectly through this trust.
In addition to the indirect holdings, O'Leary directly owns 17,991 shares in Sprouts Farmers Market, including 2,597 restricted stock units that are set to vest on March 19, 2025, contingent on continued service until that date.
In other recent news, Sprouts Farmers Market reported strong financial results for the third quarter of 2024, demonstrating a 14% increase in total sales, amounting to $1.9 billion, and an 8.4% rise in comparable store sales. The company's earnings call highlighted a significant 36% growth in e-commerce sales and a 40% increase in diluted earnings per share, reaching $0.91. These developments were shared by CEO Jack Sinclair and CFO Curtis Valentine, who also outlined plans for expanding the store count and enhancing customer engagement.
Sprouts Farmers Market opened nine new stores recently, with intentions to launch 33 more in 2025. The company anticipates full-year sales growth at 12%, with comp sales growth projected at 7%. Adjusted EBIT is expected to range between $490 million and $495 million, with capital expenditures of $205 million to $215 million.
The company also plans to maintain a growth rate of 2% to 4% in the upcoming year, potentially leaning towards the higher end. Despite concerns about potential sales slowdown and volatility in fresh produce prices, the company remains optimistic about achieving 8% to 10% comparable store sales growth in Q4. Management expressed confidence in ongoing top-line growth and expects SG&A in Q4 to align with Q3 levels.
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