Sprouts Farmers Market (NASDAQ:SFM) Sets New 1-Year High – Here’s Why

Sprouts Farmers Market, Inc. (NASDAQ:SFM)’s share price reached a new 52-week high on Monday . The stock traded as high as $116.33 and last traded at $115.13, with a volume of 31244 shares changing hands. The stock had previously closed at $116.12.

Analysts Set New Price Targets

SFM has been the topic of several research reports. BMO Capital Markets raised 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 report on Tuesday, July 30th. Roth Mkm upped their target price on Sprouts Farmers Market from $58.00 to $78.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. The Goldman Sachs Group upped their target price on Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Bank of America upped their price objective on Sprouts Farmers Market from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Sprouts Farmers Market from $63.00 to $76.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sprouts Farmers Market has a consensus rating of “Hold” and a consensus target price of $99.80.

Sprouts Farmers Market Trading Down 1.0 %

The business has a 50 day simple moving average of $103.37 and a two-hundred day simple moving average of $85.83. 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 stock has a market cap of $11.51 billion, a price-to-earnings ratio of 36.40, a price-to-earnings-growth ratio of 3.21 and a beta of 0.56.

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

Insider Buying and Selling

In related news, insider Dustin Hamilton sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total value of $48,760.00. Following the sale, the insider now owns 27,188 shares of the company’s stock, valued at approximately $2,651,373.76. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Sprouts Farmers Market news, Director Hari K. Avula sold 2,500 shares of Sprouts Farmers Market stock in a transaction on Monday, August 12th. The stock was sold at an average price of $96.50, for a total transaction of $241,250.00. Following the sale, the director now owns 10,554 shares of the company’s stock, valued at $1,018,461. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dustin Hamilton sold 500 shares of Sprouts Farmers Market stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $97.52, for a total value of $48,760.00. Following the sale, the insider now directly owns 27,188 shares in the company, valued at $2,651,373.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,221 shares of company stock valued at $12,296,487. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Sprouts Farmers Market

Several hedge funds have recently modified their holdings of the company. Rise Advisors LLC acquired a new position in shares of Sprouts Farmers Market in the 1st quarter worth $26,000. Crewe Advisors LLC grew its holdings in shares of Sprouts Farmers Market by 223.5% in the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock worth $27,000 after acquiring an additional 219 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Sprouts Farmers Market in the 2nd quarter worth $29,000. Quarry LP grew its holdings in shares of Sprouts Farmers Market by 1,425.8% in the 2nd quarter. Quarry LP now owns 473 shares of the company’s stock worth $40,000 after acquiring an additional 442 shares during the last quarter. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Sprouts Farmers Market in the 2nd quarter worth $63,000.

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.