Sprouts Farmers Market (NASDAQ:SFM) Sets New 12-Month High After Analyst Upgrade

Sprouts Farmers Market, Inc. (NASDAQ:SFM) hit a new 52-week high on Monday after Bank of America raised their price target on the stock from $115.00 to $135.00. Bank of America currently has a buy rating on the stock. Sprouts Farmers Market traded as high as $120.69 and last traded at $120.45, with a volume of 85509 shares traded. The stock had previously closed at $119.32.

Several other equities research analysts have also recently commented on SFM. Wells Fargo & Company raised shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $62.00 to $90.00 in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. BMO Capital Markets raised shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and upped their target price for the company from $40.00 to $102.00 in a report on Tuesday, July 30th. Royal Bank of Canada assumed coverage on Sprouts Farmers Market in a research note on Thursday, September 12th. They set a “sector perform” rating and a $107.00 target price for the company. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sprouts Farmers Market presently has a consensus rating of “Hold” and an average price target of $104.40.

Insider Activity

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

Hedge Funds Weigh In On Sprouts Farmers Market

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Sprouts Farmers Market by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 10,715,970 shares of the company’s stock valued at $690,966,000 after purchasing an additional 29,362 shares during the period. Renaissance Technologies LLC lifted its position 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 valued at $371,295,000 after purchasing an additional 593,600 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Sprouts Farmers Market by 9.8% in the 1st quarter. Nordea Investment Management AB now owns 3,336,707 shares of the company’s stock worth $216,419,000 after buying an additional 297,067 shares during the last quarter. Marshall Wace LLP boosted its position in Sprouts Farmers Market by 167.4% in the second quarter. Marshall Wace LLP now owns 1,555,192 shares of the company’s stock worth $130,107,000 after purchasing an additional 973,666 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Sprouts Farmers Market by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,457 shares of the company’s stock worth $96,080,000 after buying an additional 6,085 shares during the last quarter.

Sprouts Farmers Market Trading Down 0.4 %

The stock’s 50 day simple moving average is $108.49 and its two-hundred day simple moving average is $90.41. The stock has a market capitalization of $11.98 billion, a PE ratio of 37.52, a PEG ratio of 2.75 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.03 and a quick ratio of 0.44.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.16. The business had revenue of $1.90 billion for 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%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. On average, sell-side analysts expect that Sprouts Farmers Market, Inc. will post 3.39 EPS for the current year.

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.