Bank of America Increases Sprouts Farmers Market (NASDAQ:SFM) Price Target to $115.00

Sprouts Farmers Market (NASDAQ:SFM) had its price target hoisted by analysts at Bank of America from $100.00 to $115.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 16.36% from the company’s current price.

Other research analysts also recently issued research reports about the stock. UBS Group upped their price target on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. The Goldman Sachs Group upped their target price on shares of Sprouts Farmers Market from $89.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Evercore ISI raised their price target on shares of Sprouts Farmers Market from $84.00 to $96.00 and gave the company an “in-line” rating in a report on Tuesday, July 30th. Wells Fargo & Company raised Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $62.00 to $90.00 in a report on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $95.25.

Sprouts Farmers Market Stock Performance

NASDAQ:SFM opened at $98.83 on Thursday. The firm has a market capitalization of $9.90 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 2.96 and a beta of 0.56. 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 has a 12-month low of $38.46 and a 12-month high of $104.41. The firm has a 50-day moving average price of $92.01 and a 200 day moving average price of $77.40.

Sprouts Farmers Market (NASDAQ:SFM) last issued its 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 during the quarter, compared to analysts’ expectations of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. Sprouts Farmers Market’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. Research analysts anticipate that Sprouts Farmers Market will post 3.37 earnings per share for the current fiscal year.

Insider Transactions at Sprouts Farmers Market

In other news, CEO Jack Sinclair sold 5,714 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $101.09, for a total transaction of $577,628.26. Following the completion of the transaction, the chief executive officer now directly owns 222,432 shares in the company, valued at approximately $22,485,650.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $101.09, for a total value of $577,628.26. Following the sale, the chief executive officer now directly owns 222,432 shares in the company, valued at $22,485,650.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Dustin Hamilton sold 500 shares of Sprouts Farmers Market stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total transaction of $48,760.00. Following the transaction, the insider now directly owns 27,188 shares in the company, valued at $2,651,373.76. The disclosure for this sale can be found here. Insiders have sold 126,942 shares of company stock worth $12,373,193 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. increased its stake in Sprouts Farmers Market by 411.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,538,410 shares of the company’s stock worth $74,013,000 after purchasing an additional 1,237,610 shares in the last quarter. Marshall Wace LLP increased its position in shares of Sprouts Farmers Market by 167.4% during the second quarter. Marshall Wace LLP now owns 1,555,192 shares of the company’s stock worth $130,107,000 after acquiring an additional 973,666 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Sprouts Farmers Market by 15.4% during the second quarter. Renaissance Technologies LLC now owns 4,438,144 shares of the company’s stock worth $371,295,000 after acquiring an additional 593,600 shares during the period. Hennessy Advisors Inc. bought a new stake in Sprouts Farmers Market in the 4th quarter valued at $23,992,000. Finally, Goldman Sachs Group Inc. boosted its stake in Sprouts Farmers Market by 36.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,478,588 shares of the company’s stock worth $71,135,000 after purchasing an additional 398,901 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.