Sprouts Farmers Market announces $600 million share repurchase program

Sprouts Farmers Market Inc. SFM, +6.93% shares rose 4.7% in Friday premarket trading after the grocer announced a new $600 million share repurchase program. The new program replaces a previous one that had $100 million remaining. The program expires on December 31, 2024. Sprouts stock has run up 30.6% over the past year while the S&P 500 index SPX, -0.79% is up 15.8%.