Sprouts Farmers Market (NASDAQ:SFM) Hits New 1-Year High at $108.13

Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) hit a new 52-week high on Monday . The company traded as high as $108.13 and last traded at $108.13, with a volume of 237183 shares changing hands. The stock had previously closed at $105.70.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SFM. Bank of America upped their target price on Sprouts Farmers Market from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. The Goldman Sachs Group raised their target price on shares of Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm lifted their target price on shares of Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. UBS Group upped 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, Deutsche Bank Aktiengesellschaft lifted their price objective on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $99.22.

Sprouts Farmers Market Price Performance

The company has a fifty day moving average price of $96.26 and a two-hundred day moving average price of $80.72. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 0.01. The company has a market cap of $10.81 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.16. The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. As a group, equities research analysts anticipate that Sprouts Farmers Market, Inc. will post 3.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jack Sinclair sold 5,714 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total value of $476,433.32. Following the sale, the chief executive officer now directly owns 245,288 shares in the company, valued at approximately $20,452,113.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider John Scott Neal sold 6,535 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $102.29, for a total transaction of $668,465.15. Following the completion of the sale, the insider now owns 14,293 shares of the company’s stock, valued at $1,462,030.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jack Sinclair sold 5,714 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total value of $476,433.32. Following the completion of the transaction, the chief executive officer now directly owns 245,288 shares in the company, valued at $20,452,113.44. The disclosure for this sale can be found here. Insiders sold a total of 123,221 shares of company stock worth $12,130,609 over the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SFM. Sanctuary Advisors LLC bought a new position in Sprouts Farmers Market in the 2nd quarter valued at $1,186,000. Cetera Investment Advisers boosted its position in shares of Sprouts Farmers Market by 42.2% in the 2nd quarter. Cetera Investment Advisers now owns 74,943 shares of the company’s stock worth $6,270,000 after purchasing an additional 22,246 shares during the last quarter. Quarry LP increased its holdings in Sprouts Farmers Market by 1,425.8% in the second quarter. Quarry LP now owns 473 shares of the company’s stock valued at $40,000 after purchasing an additional 442 shares during the last quarter. Creative Planning lifted its stake in Sprouts Farmers Market by 29.8% in the second quarter. Creative Planning now owns 29,962 shares of the company’s stock valued at $2,507,000 after buying an additional 6,871 shares during the period. Finally, Algert Global LLC grew its position in shares of Sprouts Farmers Market by 57.0% during the 2nd quarter. Algert Global LLC now owns 51,540 shares of the company’s stock worth $4,312,000 after buying an additional 18,710 shares during the period.

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.