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

Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) hit a new 52-week high on Wednesday after Bank of America raised their price target on the stock from $165.00 to $185.00. Bank of America currently has a buy rating on the stock. Sprouts Farmers Market traded as high as $170.92 and last traded at $170.60, with a volume of 416085 shares traded. The stock had previously closed at $166.13.

A number of other equities research analysts have also weighed in on SFM. Wells Fargo & Company lifted their price objective on Sprouts Farmers Market from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. The Goldman Sachs Group lifted their price objective on Sprouts Farmers Market from $127.00 to $159.00 and gave the company a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their price objective on Sprouts Farmers Market from $102.00 to $140.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Evercore ISI lifted their price objective on Sprouts Farmers Market from $155.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, StockNews.com raised Sprouts Farmers Market from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $124.40.

Insider Buying and Selling at Sprouts Farmers Market

In other news, CEO Jack Sinclair sold 2,915 shares of Sprouts Farmers Market stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $167.54, for a total value of $488,379.10. Following the transaction, the chief executive officer now directly owns 143,669 shares in the company, valued at approximately $24,070,304.26. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph D. O’leary sold 350 shares of Sprouts Farmers Market stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $150.11, for a total value of $52,538.50. Following the completion of the transaction, the director now owns 17,991 shares in the company, valued at $2,700,629.01. This represents a 1.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,614 shares of company stock worth $6,323,731 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Sprouts Farmers Market

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Accent Capital Management LLC acquired a new position in shares of Sprouts Farmers Market in the 3rd quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Sprouts Farmers Market in the 4th quarter valued at about $31,000. Avior Wealth Management LLC raised its holdings in Sprouts Farmers Market by 93.5% in the 4th quarter. Avior Wealth Management LLC now owns 269 shares of the company’s stock worth $34,000 after purchasing an additional 130 shares during the period. Global Retirement Partners LLC raised its holdings in Sprouts Farmers Market by 84.1% in the 4th quarter. Global Retirement Partners LLC now owns 289 shares of the company’s stock worth $37,000 after purchasing an additional 132 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in Sprouts Farmers Market in the 3rd quarter worth about $38,000.

Sprouts Farmers Market Trading Up 2.5 %

The company has a 50 day simple moving average of $144.76 and a 200 day simple moving average of $125.89. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.59 and a current ratio of 1.13. The company has a market capitalization of $17.02 billion, a PE ratio of 49.27, a price-to-earnings-growth ratio of 2.25 and a beta of 0.63.

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.