Sprouts Farmers Market (NASDAQ:SFM) Price Target Increased to $75.00 by Analysts at Evercore ISI

Sprouts Farmers Market (NASDAQ:SFM) had its price objective raised by Evercore ISI from $74.00 to $75.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

A number of other brokerages have also recently weighed in on SFM. BMO Capital Markets upped their price objective on Sprouts Farmers Market from $31.00 to $40.00 and gave the stock an underperform rating in a research note on Thursday, May 2nd. The Goldman Sachs Group upped their target price on Sprouts Farmers Market from $56.00 to $71.00 and gave the company a buy rating in a research report on Tuesday, March 5th. Wells Fargo & Company upped their target price on Sprouts Farmers Market from $48.00 to $62.00 and gave the company an underweight rating in a research report on Thursday, May 2nd. Bank of America raised Sprouts Farmers Market from an underperform rating to a buy rating and upped their target price for the company from $30.00 to $70.00 in a research report on Tuesday, February 27th. Finally, Oppenheimer reaffirmed a market perform rating on shares of Sprouts Farmers Market in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $57.88.

Sprouts Farmers Market Price Performance

Shares of SFM stock opened at $76.99 on Thursday. Sprouts Farmers Market has a twelve month low of $33.01 and a twelve month high of $82.96. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 2.97 and a beta of 0.51. The stock has a fifty day simple moving average of $73.80 and a two-hundred day simple moving average of $61.29. The company has a current ratio of 1.19, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.12. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. On average, analysts predict that Sprouts Farmers Market will post 3.12 EPS for the current fiscal year.

Insider Activity

In other news, COO Nicholas Konat sold 31,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $74.14, for a total value of $2,298,340.00. Following the transaction, the chief operating officer now directly owns 51,495 shares of the company’s stock, valued at $3,817,839.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David Mcglinchey sold 12,219 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $74.01, for a total transaction of $904,328.19. Following the sale, the insider now directly owns 25,007 shares of the company’s stock, valued at $1,850,768.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Nicholas Konat sold 31,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $74.14, for a total value of $2,298,340.00. Following the sale, the chief operating officer now directly owns 51,495 shares in the company, valued at $3,817,839.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,715 shares of company stock valued at $4,082,179. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Sprouts Farmers Market

Several hedge funds and other institutional investors have recently bought and sold shares of SFM. Rhumbline Advisers grew its holdings in Sprouts Farmers Market by 1.3% during the third quarter. Rhumbline Advisers now owns 334,471 shares of the company’s stock worth $14,315,000 after acquiring an additional 4,178 shares during the period. Paralel Advisors LLC grew its holdings in Sprouts Farmers Market by 1.1% during the third quarter. Paralel Advisors LLC now owns 54,593 shares of the company’s stock worth $2,337,000 after acquiring an additional 616 shares during the period. QRG Capital Management Inc. purchased a new position in Sprouts Farmers Market during the third quarter worth approximately $239,000. Invesco Ltd. boosted its position in Sprouts Farmers Market by 6.6% during the third quarter. Invesco Ltd. now owns 1,436,821 shares of the company’s stock worth $61,496,000 after purchasing an additional 88,997 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its position in Sprouts Farmers Market by 49.9% during the third quarter. Ontario Teachers Pension Plan Board now owns 27,912 shares of the company’s stock worth $1,195,000 after purchasing an additional 9,293 shares in the last quarter.

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.