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

Sprouts Farmers Market, Inc. (NASDAQ:SFM)’s stock 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 traded. The stock had previously closed at $117.42.

A number of other equities research analysts have also recently weighed in on the company. Wells Fargo & Company raised Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $62.00 to $90.00 in a research note on Tuesday, July 30th. Bank of America boosted their target price on Sprouts Farmers Market from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Roth Mkm boosted their target price on Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, The Goldman Sachs Group upped their price objective on Sprouts Farmers Market from $111.00 to $127.00 and gave the stock a “buy” rating in a research report on Tuesday. 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 MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $102.40.

Insider Transactions at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Timmi Zalatoris sold 56,800 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $100.00, for a total transaction of $5,680,000.00. Following the transaction, the insider now owns 10,895 shares in the company, valued at $1,089,500. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Dustin Hamilton sold 500 shares of Sprouts Farmers Market stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total transaction of $48,760.00. Following the sale, the insider now directly owns 27,188 shares of the company’s stock, valued at approximately $2,651,373.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timmi Zalatoris sold 56,800 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $100.00, for a total value of $5,680,000.00. Following the completion of the sale, the insider now directly owns 10,895 shares of the company’s stock, valued at approximately $1,089,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 124,142 shares of company stock worth $12,401,112 over the last quarter. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Crewe Advisors LLC lifted its stake in shares of Sprouts Farmers Market by 223.5% in the second quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock valued at $27,000 after buying an additional 219 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Sprouts Farmers Market during the second quarter worth $29,000. V Square Quantitative Management LLC acquired a new position in shares of Sprouts Farmers Market during the third quarter worth about $38,000. Quarry LP boosted its holdings in Sprouts Farmers Market by 1,425.8% during the second quarter. Quarry LP now owns 473 shares of the company’s stock worth $40,000 after purchasing an additional 442 shares during the last quarter. Finally, Waldron Private Wealth LLC bought a new position in shares of Sprouts Farmers Market in the third quarter valued at about $60,000.

Sprouts Farmers Market Trading Up 0.4 %

The firm has a market capitalization of $11.80 billion, a P/E ratio of 36.68, a price-to-earnings-growth ratio of 3.29 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.03 and a quick ratio of 0.44. The business’s 50-day moving average is $105.90 and its 200 day moving average is $88.06.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Monday, July 29th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.16. The company had revenue of $1.90 billion during 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%. Sprouts Farmers Market’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, analysts anticipate that Sprouts Farmers Market, Inc. will post 3.37 EPS for the current fiscal year.

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.