Sprouts Farmers Market (NASDAQ:SFM) Price Target Raised to $62.00

Sprouts Farmers Market (NASDAQ:SFM) had its price objective raised by Evercore ISI from $59.00 to $62.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an in-line rating on the stock.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group upped their target price on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Bank of America upgraded shares of Sprouts Farmers Market from an underperform rating to a buy rating and upped their target price for the company from $30.00 to $70.00 in a research report on Tuesday, February 27th. Finally, StockNews.com cut shares of Sprouts Farmers Market from a buy rating to a hold rating in a research report on Sunday, December 3rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $51.29.

Sprouts Farmers Market Stock Performance

SFM stock opened at $64.48 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.10 and a quick ratio of 0.51. The company has a 50 day moving average price of $57.09 and a 200 day moving average price of $48.70. Sprouts Farmers Market has a fifty-two week low of $32.12 and a fifty-two week high of $65.53. The stock has a market capitalization of $6.53 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.49.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.04. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the previous year, the company posted $0.42 EPS. Sprouts Farmers Market’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that Sprouts Farmers Market will post 2.95 EPS for the current year.

Insider Transactions at Sprouts Farmers Market

In other news, VP Stacy W. Hilgendorf sold 3,774 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $62.26, for a total transaction of $234,969.24. Following the completion of the transaction, the vice president now directly owns 10,748 shares in the company, valued at approximately $669,170.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Sprouts Farmers Market news, VP Stacy W. Hilgendorf sold 3,774 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $62.26, for a total value of $234,969.24. Following the transaction, the vice president now directly owns 10,748 shares of the company’s stock, valued at approximately $669,170.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Nicholas Konat sold 31,846 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $62.13, for a total transaction of $1,978,591.98. Following the transaction, the chief operating officer now directly owns 82,495 shares in the company, valued at $5,125,414.35. The disclosure for this sale can be found here. Insiders sold a total of 160,852 shares of company stock worth $10,032,745 in the last three months. Insiders own 1.20% of the company’s stock.

Institutional Trading of Sprouts Farmers Market

Several institutional investors and hedge funds have recently modified their holdings of SFM. Nordea Investment Management AB lifted its position in shares of Sprouts Farmers Market by 614.5% during the 4th quarter. Nordea Investment Management AB now owns 3,039,640 shares of the company’s stock worth $146,359,000 after buying an additional 2,614,241 shares during the last quarter. Wasatch Advisors Inc. bought a new stake in shares of Sprouts Farmers Market during the 1st quarter worth $54,912,000. Morgan Stanley increased its holdings in Sprouts Farmers Market by 111.3% in the 4th quarter. Morgan Stanley now owns 3,093,805 shares of the company’s stock worth $100,146,000 after purchasing an additional 1,629,709 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Sprouts Farmers Market by 411.4% in the 4th quarter. Point72 Asset Management L.P. now owns 1,538,410 shares of the company’s stock worth $74,013,000 after purchasing an additional 1,237,610 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in Sprouts Farmers Market in the 2nd quarter worth about $31,911,000.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc, together with its subsidiaries, engages in the retailing of fresh, natural, and organic food products under the Sprouts brand in the United States. It offers perishable product categories, including fresh produce, meat and meat alternatives, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.