Sprouts Farmers Market (NASDAQ:SFM) Sets New 1-Year High Following Analyst Upgrade

Sprouts Farmers Market, Inc. (NASDAQ:SFM)’s share price hit a new 52-week high during trading on Tuesday after Evercore ISI raised their price target on the stock from $125.00 to $130.00. Evercore ISI currently has an outperform rating on the stock. Sprouts Farmers Market traded as high as $118.04 and last traded at $117.87, with a volume of 423438 shares traded. The stock had previously closed at $117.42.

SFM has been the subject of several other research reports. UBS Group boosted their target price on Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Melius Research began coverage on Sprouts Farmers Market in a report on Monday, September 23rd. They set a “hold” rating and a $105.00 price objective on the stock. Royal Bank of Canada began coverage on Sprouts Farmers Market in a report on Thursday, September 12th. They set a “sector perform” rating and a $107.00 price objective on the stock. The Goldman Sachs Group upped their target price on Sprouts Farmers Market from $111.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Bank of America upped their target price on Sprouts Farmers Market from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Sprouts Farmers Market currently has an average rating of “Hold” and an average price target of $102.40.

Insider Transactions at Sprouts Farmers Market

In other news, VP Stacy W. Hilgendorf sold 1,904 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $101.12, for a total value of $192,532.48. Following the transaction, the vice president now directly owns 10,237 shares in the company, valued at $1,035,165.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Stacy W. Hilgendorf sold 1,904 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $101.12, for a total value of $192,532.48. Following the completion of the sale, the vice president now owns 10,237 shares in the company, valued at approximately $1,035,165.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dustin Hamilton sold 921 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $113.60, for a total value of $104,625.60. Following the sale, the insider now owns 25,251 shares of the company’s stock, valued at approximately $2,868,513.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 124,142 shares of company stock worth $12,401,112 in the last three months. 1.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprouts Farmers Market

Hedge funds have recently bought and sold shares of the business. Crewe Advisors LLC grew its stake in Sprouts Farmers Market by 223.5% during the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock valued at $27,000 after purchasing an additional 219 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Sprouts Farmers Market in the 3rd quarter worth approximately $38,000. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Sprouts Farmers Market in the 2nd quarter worth approximately $29,000. Quarry LP grew its position in shares of Sprouts Farmers Market by 1,425.8% in the 2nd quarter. Quarry LP now owns 473 shares of the company’s stock worth $40,000 after acquiring an additional 442 shares in the last quarter. Finally, Waldron Private Wealth LLC acquired a new position in shares of Sprouts Farmers Market in the 3rd quarter worth approximately $60,000.

Sprouts Farmers Market Trading Up 0.5 %

The company has a market cap of $11.90 billion, a price-to-earnings ratio of 37.26, a price-to-earnings-growth ratio of 3.29 and a beta of 0.56. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $106.82 and a 200 day moving average price of $88.65.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.71 EPS. As a group, sell-side analysts forecast that Sprouts Farmers Market, Inc. will post 3.37 EPS for the current year.

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.