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

Sprouts Farmers Market, Inc. (NASDAQ:SFM) 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.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of Sprouts Farmers Market from $111.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday. Melius Research started coverage on shares of Sprouts Farmers Market in a research report on Monday, September 23rd. They set a “hold” rating and a $105.00 price objective on the stock. Wells Fargo & Company raised shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $62.00 to $90.00 in a research report on Tuesday, July 30th. UBS Group raised their price target on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Finally, Roth Mkm raised their price target on shares of Sprouts Farmers Market from $58.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sprouts Farmers Market has an average rating of “Hold” and a consensus target price of $102.40.

Insider Activity at Sprouts Farmers Market

In related news, insider Dustin Hamilton sold 921 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Sprouts Farmers Market news, insider Dustin Hamilton sold 921 shares of Sprouts Farmers Market stock in a transaction on Friday, October 11th. The shares were sold at an average price of $113.60, for a total transaction of $104,625.60. Following the completion of the transaction, the insider now directly owns 25,251 shares of the company’s stock, valued at $2,868,513.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timmi Zalatoris sold 56,800 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $5,680,000.00. Following the sale, the insider now directly owns 10,895 shares of the company’s stock, valued at $1,089,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,142 shares of company stock valued at $12,401,112. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sprouts Farmers Market

A number of large investors have recently added to or reduced their stakes in the company. RFG Advisory LLC purchased a new stake in Sprouts Farmers Market in the first quarter valued at approximately $271,000. Ausbil Investment Management Ltd boosted its position in Sprouts Farmers Market by 38.6% in the first quarter. Ausbil Investment Management Ltd now owns 24,770 shares of the company’s stock valued at $1,576,000 after buying an additional 6,902 shares during the last quarter. Hennessy Advisors Inc. boosted its position in Sprouts Farmers Market by 14.1% in the first quarter. Hennessy Advisors Inc. now owns 569,000 shares of the company’s stock valued at $36,689,000 after buying an additional 70,300 shares during the last quarter. Aviance Capital Partners LLC boosted its position in Sprouts Farmers Market by 4.1% in the first quarter. Aviance Capital Partners LLC now owns 36,029 shares of the company’s stock valued at $2,323,000 after buying an additional 1,405 shares during the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in Sprouts Farmers Market in the first quarter valued at approximately $412,000.

Sprouts Farmers Market Trading Up 0.5 %

The stock has a 50-day moving average of $106.82 and a 200 day moving average of $88.65. The stock has a market cap of $11.90 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 3.29 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 (NASDAQ:SFM) last released its quarterly earnings data on Monday, July 29th. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.78 by $0.16. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm posted $0.71 EPS. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sprouts Farmers Market, Inc. will post 3.37 earnings per share 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.