Sprouts Farmers Market (NASDAQ:SFM) PT Raised to $62.00

Sprouts Farmers Market (NASDAQ:SFM) had its price target upped by equities research analysts at Wells Fargo & Company from $48.00 to $62.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential downside of 15.85% from the stock’s current price.

Several other research analysts have also recently issued reports on SFM. Bank of America raised shares of Sprouts Farmers Market from an “underperform” rating to a “buy” rating and raised their target price for the stock from $30.00 to $70.00 in a report on Tuesday, February 27th. Oppenheimer reissued a “market perform” rating on shares of Sprouts Farmers Market in a report on Monday, April 29th. Evercore ISI dropped their price target on shares of Sprouts Farmers Market from $62.00 to $61.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. BMO Capital Markets raised their price target on shares of Sprouts Farmers Market from $31.00 to $40.00 and gave the company an “underperform” rating in a research report on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Sprouts Farmers Market presently has a consensus rating of “Hold” and an average target price of $53.50.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ SFM traded up $1.68 during midday trading on Thursday, reaching $73.68. The company had a trading volume of 2,076,372 shares, compared to its average volume of 1,492,326. The business’s 50-day simple moving average is $63.94 and its 200 day simple moving average is $52.87. The stock has a market cap of $7.40 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.50 and a beta of 0.50. Sprouts Farmers Market has a 1 year low of $32.12 and a 1 year high of $74.03. The company has a current ratio of 1.19, a quick ratio of 0.51 and a debt-to-equity ratio of 0.11.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.12. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Sprouts Farmers Market had a net margin of 4.25% and a return on equity of 26.77%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. On average, analysts forecast that Sprouts Farmers Market will post 3.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Sprouts Farmers Market news, COO Nicholas Konat sold 31,846 shares of Sprouts Farmers Market stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $62.13, for a total transaction of $1,978,591.98. Following the transaction, the chief operating officer now directly owns 82,495 shares of the company’s stock, valued at $5,125,414.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sprouts Farmers Market news, COO Nicholas Konat sold 31,846 shares of Sprouts Farmers Market stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $62.13, for a total transaction of $1,978,591.98. Following the transaction, the chief operating officer now directly owns 82,495 shares of the company’s stock, valued at $5,125,414.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stacy W. Hilgendorf sold 3,774 shares of Sprouts Farmers Market stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $62.26, for a total transaction of $234,969.24. Following the transaction, the vice president now directly owns 10,748 shares in the company, valued at $669,170.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,852 shares of company stock worth $10,032,745. 1.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Sprouts Farmers Market

Institutional investors and hedge funds have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC purchased a new stake in Sprouts Farmers Market during the 3rd quarter worth approximately $25,000. Rise Advisors LLC purchased a new stake in Sprouts Farmers Market during the 1st quarter worth approximately $26,000. Blue Bell Private Wealth Management LLC purchased a new stake in Sprouts Farmers Market during the 1st quarter worth approximately $36,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Sprouts Farmers Market during the 4th quarter worth approximately $38,000. Finally, GAMMA Investing LLC acquired a new position in Sprouts Farmers Market during the 4th quarter worth approximately $43,000.

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.