The Fresh Market Is Now A Buy As A Strategic Review Commences
Alpha Gen Capital
Alpha Gen Capital
The Fresh Market - Chickens Come Home To Roost
Mon, Mar. 14, 12:45 PM
Mon, Mar. 14, 9:17 AM
Mon, Mar. 14, 7:43 AM
- Shares of The Fresh Market (NASDAQ:TFM) soar in early trading after the company agrees to a cash tender offer from P-E firm Apollo Global Management (NYSE:APO).
- The P-E firm will pay $28.50 per share for the grocery store chain for a deal price of $1.36B.
- Under the terms of the deal, The Fresh Market has 21 days to solicit other offers, putting Kroger (NYSE:KR) on a short clock.
- Previously: Reuters: Apollo nears deal to acquire The Fresh Market (Mar. 13 2016)
- TFM +22.93% premarket to $28.25.
Mon, Mar. 7, 11:26 AM
- Grocery store stocks are ahead of broad market averages. The sector is under for watch for M&A developments, while some macroeconomic factors have also turned more favorable this year.
- Gainers today include Whole Foods Market (WFM +6.5%), The Fresh Market (TFM +2.6%), Ingles Markets (IMKTA +2.4%), Natural Grocers by Vitamin Cottage (VLGEA +1.3%), and Supervalu (SVU +5%).
Fri, Feb. 12, 9:26 AM
- Stifel Nicolaus sets its sights on the grocery store sector after yesterday's dramatic report of Kroger's (NYSE:KR) interest in a buyout of The Fresh Market (NASDAQ:TFM).
- The investment firm gives Kroger a Buy rating and $45 price target after digesting the consolidation potential. Kroger's M&A spree over the last few years already includes Roundy's, Vitacost, and Harris Teeter - although management has been credited with successful integration strategies.
- Investors have been rewarded from Kroger's growth push with shares of the grocery store chain outperforming the S&P 500 Index by a wide margin (+215% vs. +36% over 5 years).
- Sprouts Farmers Market (NASDAQ:SFM) is also given a Buy rating from Stifel and assigned a PT of $27.
- Previously: The Fresh Market closes +22% on buyout spike, more room to run? (Feb. 11 2016)
- SFM +2.1% premarket to $22.55 vs. a 52-week range of $16.41 to $38.45.
- TFM +1.81% premarket to $23.09 vs. a 52-week range of $17.81 to $42.09.
- WFM +1.90% premarket to $29.48 vs. a 52-week range of $28.07 to $57.57.
- KR +1.95% premarket to $37.14 vs. a 52-week range of $27.32 to $42.75.
Thu, Feb. 11, 2:30 PM
- The Fresh Market (NASDAQ:TFM) breaks away from a trading halt to soar 13.40% to $21.07 in reaction to a report of a Kroger (KR -1.3%) acquisition play. It's been three weeks since TFM was over the $20 mark.
- The report from Reuters indicates bidding from PE firms and other companies is already in the second round.
- The breadth of interest is helping push up shares of Sprouts Farmers Market, Whole Foods Market, and Ingles Markets as well.
Thu, Feb. 11, 1:59 PM
Mon, Feb. 1, 10:46 AM
- Strong volume numbers out of Sysco this morning aren't going unnoticed by grocery store investors.
- With a large percentage of the market showing losses, Whole Foods (WFM +1.9%), The Fresh Market (TFM +0.1%), and Kroger (KR +1.8%) are all higher. Related food seller Casey's General Stores (CASY +0.9%) is also in positive territory.
- Previously: 52-week high for Sysco after earnings shine (Feb. 1)
Fri, Jan. 29, 10:28 AM
- Grocery store stocks are early outperformers on the day.
- Supervalu (SVU +6.3%), Kroger (KR +2.6%), The Fresh Market (TFM +2.7%), SpartanNash (SPTN +2.8%), Sprouts Farmers Market (SFM +2.8%), and Whole Foods Market (WFM +3.2%) are all drawing in buyers.
- Traders are pointing to the macroeconomic climate and valuation as catalysts. Earlier, SA contributor Hawkinvest pitched the case that SVU is vastly undervalued.
Dec. 10, 2015, 10:30 AM
- The organic grocery store sector is making some modest gains with Whole Foods Market (WFM +3.3%), Fairway Group (FWM +3%), Sprouts Farmers Market (SFM +2.6%), and The Fresh Market (TFM +2.5%) all higher than broad market averages.
- The group has had a very rough year due to a high level of competition and some saturation in key markets. Consolidation is still seen as a potential way out for some chains.
- YTD returns: FWM -76%, SFM -24%, TFM -40%, WFM -38%.
Nov. 19, 2015, 8:19 PM
- The Fresh Market (NASDAQ:TFM) reports comparable-store sales fell 3.7% in Q3 on a decrease in transactions of the same percentage.
- Lower supply chain costs helped keep gross margin rate in check, GMR ended up 30 bps Y/Y to 33.2%.
- As expected, management didn't give up any further details on the strategic review going on except to say the grocery chain aims to increase productivity ahead of the holiday period.
- The Fresh Market expects full-year EPS of $1.55 to $1.60 vs. $1.60 consensus.
- TFM -1.73% AH after a 6.3% drop in the regular trading session.
- Previously: The Fresh Market beats by $0.01, misses on revenue (Nov. 19)
Oct. 26, 2015, 9:59 AM
- Whole Foods Market (WFM -4.8%), The Fresh Market (TFM -3.4%), and Sprouts Farmers Market (SFM -7.9%) are all sharply lower in early trading.
- Channel checks from OTR Global reportedly came in weaker than anticipated this morning.
- Aggressive pricing actions in the sector have been a concern heading into Q4.
Sep. 15, 2015, 1:58 PM
- Select grocery store stocks trade higher with The Fresh Market (TFM +4.2%), Roundy's (RNDY +3.5%), and Sprouts Farmers Market (SFM +3.7%) leading the charge.
- The Commerce Department's release on retail sales today indicated grocery store sales were up 0.7% M/M and 3.0% Y/Y. The pace was higher than some analysts forecast.
- Previously: August Retail Sales +0.2% to miss consensus (Sept. 15)
Sep. 8, 2015, 2:49 PM
- The Fresh Market (TFM +5.3%) trades higher after Sterne Agee CRT pulls its negative view on the grocery stock are seeing its bearish thesis play out rather neatly since its early May call. Shares of the retail chain are now rated at Neutral.
- The investment firm thinks downside risk is now fully priced into the stock.
Sep. 2, 2015, 9:40 AM
- The Fresh Market (NASDAQ:TFM) opens 6.6% higher on very strong volume after naming a new CEO last night.
- Richard Anicetti is seen as a very experienced hand in the grocery sector.
- The move by the company has drawn the notice of the analyst community with a Goldman Sachs upgrade and positive comments from Piper Jaffray already in.
- Previously: Fresh Market names Anicetti as new President and CEO (Sep. 01 2015)
Aug. 21, 2015, 9:15 AM
The Fresh Market, Inc. provides grocery stores. Its perishable product category include meat, seafood, produce, deli, bakery, floral, sushi and prepared foods; and non perishable product category consists of traditional grocery, frozen and dairy products as well as bulk, coffee and candy, beer... More
Industry: Grocery Stores
Country: United States