Sprouts Farmers Market (NASDAQ:SFM) Reaches New 52-Week High at $108.13

Sprouts Farmers Market, Inc. (NASDAQ:SFM)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $108.13 and last traded at $108.13, with a volume of 237183 shares. The stock had previously closed at $105.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SFM shares. Roth Mkm raised their price target on Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Royal Bank of Canada initiated coverage on shares of Sprouts Farmers Market in a research report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a report on Monday, July 29th. UBS Group boosted their price target on Sprouts Farmers Market from $68.00 to $94.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Finally, Evercore ISI upgraded shares of Sprouts Farmers Market from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $96.00 to $120.00 in a report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Sprouts Farmers Market presently has an average rating of “Hold” and a consensus price target of $99.22.

Sprouts Farmers Market Stock Up 1.8 %

The stock has a market cap of $10.81 billion, a P/E ratio of 37.14, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56. The firm has a 50 day simple moving average of $96.26 and a 200-day simple moving average of $80.72. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 0.01.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.16. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.71 earnings per share. On average, equities research analysts forecast that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jack Sinclair sold 5,714 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $83.38, for a total transaction of $476,433.32. Following the completion of the sale, the chief executive officer now owns 245,288 shares of the company’s stock, valued at $20,452,113.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Dustin Hamilton sold 1,997 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $99.20, for a total value of $198,102.40. Following the completion of the transaction, the insider now owns 26,172 shares of the company’s stock, valued at $2,596,262.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jack Sinclair sold 5,714 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $83.38, for a total transaction of $476,433.32. Following the completion of the sale, the chief executive officer now owns 245,288 shares in the company, valued at $20,452,113.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,221 shares of company stock worth $12,130,609. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Sprouts Farmers Market

Several institutional investors and hedge funds have recently added to or reduced their stakes in SFM. Mercer Global Advisors Inc. ADV raised its position in Sprouts Farmers Market by 0.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 18,717 shares of the company’s stock valued at $1,566,000 after purchasing an additional 148 shares during the last quarter. Ironwood Investment Counsel LLC boosted its position in Sprouts Farmers Market by 3.8% during the 1st quarter. Ironwood Investment Counsel LLC now owns 5,277 shares of the company’s stock worth $340,000 after buying an additional 195 shares during the period. Parallel Advisors LLC boosted its position in Sprouts Farmers Market by 11.7% during the 4th quarter. Parallel Advisors LLC now owns 1,987 shares of the company’s stock worth $96,000 after buying an additional 208 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in Sprouts Farmers Market by 3.1% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 7,149 shares of the company’s stock worth $344,000 after acquiring an additional 216 shares during the last quarter. Finally, Crewe Advisors LLC increased its position in Sprouts Farmers Market by 223.5% in the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock valued at $27,000 after acquiring an additional 219 shares during the period.

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.