Wells Fargo & Company Forecasts Strong Price Appreciation for Sprouts Farmers Market (NASDAQ:SFM) Stock

Sprouts Farmers Market (NASDAQ:SFM) had its price objective raised by analysts at Wells Fargo & Company from $90.00 to $130.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 0.16% from the stock’s current price.

A number of other analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Sprouts Farmers Market from $111.00 to $127.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Roth Mkm upped their price target on shares of Sprouts Farmers Market from $58.00 to $78.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Melius Research assumed coverage on shares of Sprouts Farmers Market in a report on Monday, September 23rd. They issued a “hold” rating and a $105.00 price target for the company. Finally, Bank of America boosted their price objective on Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $115.40.

Sprouts Farmers Market Price Performance

SFM stock opened at $130.21 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 1.03. The company’s fifty day moving average price is $109.56 and its 200-day moving average price is $90.87. Sprouts Farmers Market has a one year low of $39.98 and a one year high of $135.10. The company has a market capitalization of $13.04 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 2.73 and a beta of 0.56.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.77 by $0.14. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 29.02%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the firm earned $0.65 EPS. The business’s revenue was up 13.6% on a year-over-year basis. On average, equities analysts anticipate that Sprouts Farmers Market will post 3.4 EPS for the current fiscal year.

Insider Buying and Selling at Sprouts Farmers Market

In other news, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction on Monday, August 5th. The stock was sold at an average price of $95.52, for a total transaction of $545,801.28. Following the completion of the sale, the chief executive officer now directly owns 233,860 shares in the company, valued at approximately $22,338,307.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jack Sinclair sold 5,714 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.52, for a total value of $545,801.28. Following the completion of the sale, the chief executive officer now owns 233,860 shares in the company, valued at approximately $22,338,307.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joel D. Anderson sold 20,851 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $96.16, for a total value of $2,005,032.16. Following the transaction, the director now owns 18,809 shares in the company, valued at $1,808,673.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,543 shares of company stock valued at $5,751,870 in the last quarter. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its position in Sprouts Farmers Market by 167.4% during the 2nd quarter. Marshall Wace LLP now owns 1,555,192 shares of the company’s stock valued at $130,107,000 after acquiring an additional 973,666 shares in the last quarter. Renaissance Technologies LLC boosted its position in Sprouts Farmers Market by 15.4% during the second quarter. Renaissance Technologies LLC now owns 4,438,144 shares of the company’s stock valued at $371,295,000 after purchasing an additional 593,600 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Sprouts Farmers Market by 2,577.7% in the third quarter. Assenagon Asset Management S.A. now owns 452,672 shares of the company’s stock valued at $49,980,000 after purchasing an additional 435,767 shares during the last quarter. Nordea Investment Management AB raised its holdings in Sprouts Farmers Market by 9.8% in the first quarter. Nordea Investment Management AB now owns 3,336,707 shares of the company’s stock worth $216,419,000 after purchasing an additional 297,067 shares in the last quarter. Finally, Fiera Capital Corp purchased a new stake in shares of Sprouts Farmers Market during the third quarter valued at about $31,712,000.

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.