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

Sprouts Farmers Market, Inc. (NASDAQ:SFM) hit a new 52-week high during mid-day trading on Thursday after Wells Fargo & Company raised their price target on the stock from $130.00 to $140.00. Wells Fargo & Company currently has an equal weight rating on the stock. Sprouts Farmers Market traded as high as $158.84 and last traded at $155.60, with a volume of 216252 shares trading hands. The stock had previously closed at $155.11.

Other equities analysts also recently issued research reports about the stock. Bank of America raised their price objective on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, October 25th. The Goldman Sachs Group raised their price objective on shares of Sprouts Farmers Market from $127.00 to $159.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Evercore ISI raised their price objective on shares of Sprouts Farmers Market from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. StockNews.com raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. Finally, BMO Capital Markets raised their price objective on shares of Sprouts Farmers Market from $102.00 to $140.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $119.40.

Insiders Place Their Bets

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 2,935 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $138.74, for a total transaction of $407,201.90. Following the sale, the chief executive officer now owns 149,499 shares in the company, valued at approximately $20,741,491.26. This trade represents a 1.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph D. O’leary sold 350 shares of Sprouts Farmers Market stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $150.11, for a total transaction of $52,538.50. Following the sale, the director now owns 17,991 shares in the company, valued at approximately $2,700,629.01. The trade was a 1.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,869 shares of company stock worth $8,778,152. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Institutional investors and hedge funds have recently modified their holdings of the stock. Accent Capital Management LLC bought a new stake in shares of Sprouts Farmers Market during the third quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sprouts Farmers Market during the fourth quarter valued at approximately $31,000. Avior Wealth Management LLC raised its position in shares of Sprouts Farmers Market by 93.5% during the fourth quarter. Avior Wealth Management LLC now owns 269 shares of the company’s stock valued at $34,000 after buying an additional 130 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Sprouts Farmers Market in the third quarter valued at $38,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Sprouts Farmers Market by 80.6% in the third quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $40,000 after purchasing an additional 162 shares in the last quarter.

Sprouts Farmers Market Stock Performance

The business’s fifty day moving average is $142.41 and its two-hundred day moving average is $120.74. The company has a quick ratio of 0.59, a current ratio of 1.13 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $15.62 billion, a PE ratio of 45.16, a price-to-earnings-growth ratio of 1.93 and a beta of 0.63.

Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.14. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 28.24%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the firm posted $0.65 earnings per share. Sprouts Farmers Market’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, research analysts anticipate that Sprouts Farmers Market, Inc. will post 3.68 EPS for the current fiscal 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.