Sprouts Farmers Market (NASDAQ:SFM) PT Lowered to $61.00

Sprouts Farmers Market (NASDAQ:SFM) had its price objective decreased by Evercore ISI from $62.00 to $61.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential downside of 2.54% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Bank of America upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “buy” rating and boosted their target price for the company from $30.00 to $70.00 in a research report on Tuesday, February 27th. The Goldman Sachs Group raised their target price on Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.14.

Sprouts Farmers Market Trading Up 0.4 %

NASDAQ SFM traded up $0.27 during trading on Tuesday, hitting $62.59. The stock had a trading volume of 208,423 shares, compared to its average volume of 1,271,882. Sprouts Farmers Market has a one year low of $32.12 and a one year high of $65.53. The stock has a 50 day simple moving average of $60.13 and a 200 day simple moving average of $50.71. The stock has a market capitalization of $6.33 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 2.28 and a beta of 0.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 1.10.

Sprouts Farmers Market (NASDAQ:SFM) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.69 billion. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. Sell-side analysts predict that Sprouts Farmers Market will post 2.95 earnings per share for the current year.

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, Director Joe Fortunato sold 13,000 shares of Sprouts Farmers Market stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.71, for a total value of $828,230.00. Following the sale, the director now owns 39,395 shares in the company, valued at $2,509,855.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Sprouts Farmers Market news, CEO Jack Sinclair sold 31,710 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.03, for a total transaction of $1,998,681.30. Following the transaction, the chief executive officer now directly owns 274,981 shares in the company, valued at $17,332,052.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joe Fortunato sold 13,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.71, for a total value of $828,230.00. Following the transaction, the director now directly owns 39,395 shares in the company, valued at approximately $2,509,855.45. The disclosure for this sale can be found here. Insiders have sold 160,852 shares of company stock worth $10,032,745 in the last ninety days. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. VisionPoint Advisory Group LLC purchased a new stake in Sprouts Farmers Market during the third quarter worth approximately $25,000. Rise Advisors LLC purchased a new stake in shares of Sprouts Farmers Market during the 1st quarter worth approximately $26,000. West Tower Group LLC lifted its position in shares of Sprouts Farmers Market by 314.5% during the 4th quarter. West Tower Group LLC now owns 630 shares of the company’s stock worth $30,000 after buying an additional 478 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Sprouts Farmers Market in the 1st quarter valued at $35,000. Finally, Ronald Blue Trust Inc. grew its position in shares of Sprouts Farmers Market by 80.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 831 shares of the company’s stock valued at $36,000 after buying an additional 370 shares during the last quarter.

About Sprouts Farmers Market

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.