Sprouts Farmers Market (NASDAQ:SFM) Given New $63.00 Price Target at Jefferies Financial Group

Sprouts Farmers Market (NASDAQ:SFM) had its price objective decreased by equities researchers at Jefferies Financial Group from $95.00 to $63.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group‘s target price indicates a potential upside of 14.96% from the stock’s current price.

SFM has been the subject of a number of other reports. Barclays cut their price target on Sprouts Farmers Market from $100.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sprouts Farmers Market in a research note on Monday, September 21st. JPMorgan Chase & Co. dropped their price objective on Sprouts Farmers Market from $90.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday. Deutsche Bank Aktiengesellschaft cut their target price on shares of Sprouts Farmers Market from $84.00 to $77.00 and set a “hold” rating for the company in a research note on Friday, September 25th. Finally, Wells Fargo & Company reduced their target price on shares of Sprouts Farmers Market from $100.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Sprouts Farmers Market currently has a consensus rating of “Hold” and a consensus target price of $64.77.

Sprouts Farmers Market Price Performance

Shares of SFM traded up $5.10 during mid-day trading on Monday, reaching $54.80. 5,120,277 shares of the company’s stock were exchanged, compared to its average volume of 2,487,010. The company has a quick ratio of 0.39, a current ratio of 0.97 and a debt-to-equity ratio of 0.08. Sprouts Farmers Market has a 52-week low of $47.35 and a 52-week high of $94.89. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.41 and a beta of 0.67. The company has a 50-day simple moving average of $69.68 and a two-hundred day simple moving average of $76.29.

Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Wednesday, October 28th. The company reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Sprouts Farmers Market had a net margin of 5.45% and a return on equity of 33.83%. Sprouts Farmers Market’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS. On average, sell-side analysts predict that Sprouts Farmers Market will post 4.95 EPS for the current fiscal year.

Insider Buying and Selling at Sprouts Farmers Market

In other news, CEO Jack Sinclair sold 10,788 shares of Sprouts Farmers Market stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $86.80, for a total value of $936,398.40. Following the completion of the sale, the chief executive officer owned 269,980 shares of the company’s stock, valued at $23,434,264. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph D. O’leary sold 2,597 shares of Sprouts Farmers Market stock in a transaction on Friday, August 14th. The shares were sold at an average price of $82.57, for a total value of $214,434.29. Following the completion of the sale, the director directly owned 14,710 shares of the company’s stock, valued at approximately $1,214,604.70. This represents a 15.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,041 shares of company stock valued at $3,460,383 over the last quarter. 1.30% of the stock is currently owned by insiders.

Institutional Trading of Sprouts Farmers Market

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Sprouts Farmers Market in the second quarter worth approximately $768,171,000. Swedbank AB purchased a new position in Sprouts Farmers Market during the first quarter worth approximately $121,906,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Sprouts Farmers Market during the second quarter worth approximately $131,310,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Sprouts Farmers Market by 8.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,464,015 shares of the company’s stock valued at $123,826,000 after purchasing an additional 111,574 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Sprouts Farmers Market in the 2nd quarter valued at $93,790,000.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc (NASDAQ:SFM) is a specialty grocery retailer focused on fresh, natural and organic foods. Its stores offer a broad selection of fresh produce, meat and seafood, dairy products, bulk foods, vitamins and supplements, pantry staples, bakery items, deli products and prepared foods. The company emphasizes products that support healthy eating, including organic, plant-based and specialty-diet options.

Founded in 2002, Sprouts Farmers Market grew from its first store in Chandler, Arizona, into a national grocery chain.