Sprouts Farmers Market (NASDAQ:SFM) Hits New 52-Week High After Analyst Upgrade

Sprouts Farmers Market, Inc. (NASDAQ:SFM)’s share price hit a new 52-week high during mid-day trading on Tuesday after Evercore ISI raised their price target on the stock from $125.00 to $130.00. Evercore ISI currently has an outperform rating on the stock. Sprouts Farmers Market traded as high as $118.04 and last traded at $117.87, with a volume of 423438 shares changing hands. The stock had previously closed at $117.42.

A number of other equities research analysts have also issued reports on SFM. BMO Capital Markets upgraded 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 research note on Tuesday, July 30th. The Goldman Sachs Group boosted their price objective on shares of Sprouts Farmers Market from $111.00 to $127.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America boosted their price objective on shares of Sprouts Farmers Market from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Royal Bank of Canada initiated coverage on shares of Sprouts Farmers Market in a research report on Thursday, September 12th. They set a “sector perform” rating and a $107.00 price objective for the company. Finally, Melius Research initiated coverage on shares of Sprouts Farmers Market in a research report on Monday, September 23rd. They set a “hold” rating and a $105.00 price objective for the company. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $102.40.

Insiders Place Their Bets

In other Sprouts Farmers Market news, insider Dustin Hamilton sold 921 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $113.60, for a total value of $104,625.60. Following the completion of the transaction, the insider now owns 25,251 shares in the company, valued at approximately $2,868,513.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Dustin Hamilton sold 921 shares of the company’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 value of $104,625.60. Following the completion of the sale, the insider now directly owns 25,251 shares of the company’s stock, valued at approximately $2,868,513.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jack Sinclair sold 5,714 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $95.52, for a total transaction of $545,801.28. Following the completion of the sale, the chief executive officer now directly owns 233,860 shares of the company’s stock, valued at approximately $22,338,307.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 124,142 shares of company stock worth $12,401,112. Insiders own 1.10% of the company’s stock.

Institutional Trading of Sprouts Farmers Market

Several institutional investors and hedge funds have recently added to or reduced their stakes in SFM. International Assets Investment Management LLC lifted its position in shares of Sprouts Farmers Market by 3,347.7% in the 3rd quarter. International Assets Investment Management LLC now owns 164,732 shares of the company’s stock valued at $18,188,000 after acquiring an additional 159,954 shares in the last quarter. Coston McIsaac & Partners purchased a new stake in shares of Sprouts Farmers Market in the 3rd quarter valued at approximately $155,000. Private Advisor Group LLC lifted its position in shares of Sprouts Farmers Market by 67.4% in the 3rd quarter. Private Advisor Group LLC now owns 7,667 shares of the company’s stock valued at $847,000 after acquiring an additional 3,087 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of Sprouts Farmers Market in the 3rd quarter valued at approximately $60,000. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Sprouts Farmers Market by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,645 shares of the company’s stock valued at $402,000 after acquiring an additional 158 shares in the last quarter.

Sprouts Farmers Market Trading Up 0.7 %

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 firm has a market cap of $11.84 billion, a PE ratio of 37.08, a P/E/G ratio of 3.29 and a beta of 0.56. The company’s 50-day moving average is $106.35 and its 200 day moving average is $88.44.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.78 by $0.16. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. As a group, sell-side analysts predict that Sprouts Farmers Market, Inc. will post 3.37 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.