Sprouts Farmers Market Adopts $600M Stock Buyback Program

• Sprouts Farmers Market Inc (NASDAQ:SFM) Board of Directors has authorized a new share repurchase program of $600 million of its common shares.
• The approval replaces the company’s current buyback authorization with less than $100 million remaining. 
• The share repurchase program will expire on December 31, 2024.
• The company held $245.3 million in cash and equivalents as of January 2, 2022.
• Price Action: SFM shares closed higher by 7.38% at $31.44 on Thursday.