Evercore ISI Raises Sprouts Farmers Market (NASDAQ:SFM) Price Target to $160.00

Sprouts Farmers Market (NASDAQ:SFM) had its price target raised by Evercore ISI from $155.00 to $160.00 in a report released on Tuesday,Benzinga reports. Evercore ISI currently has an outperform rating on the stock.

SFM has been the topic of a number of other research reports. The Goldman Sachs Group raised their price objective on Sprouts Farmers Market from $127.00 to $159.00 and gave the company a “buy” rating in a report on Friday, November 1st. Bank of America upped their price objective on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Wells Fargo & Company boosted their target price on Sprouts Farmers Market from $90.00 to $130.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Royal Bank of Canada began coverage on Sprouts Farmers Market in a report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 price target for the company. Finally, StockNews.com upgraded Sprouts Farmers Market from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $118.40.

Sprouts Farmers Market Trading Up 0.1 %

Shares of NASDAQ:SFM opened at $151.12 on Tuesday. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of 43.68, a price-to-earnings-growth ratio of 2.28 and a beta of 0.58. The business’s 50 day moving average price is $128.88 and its 200-day moving average price is $103.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.13 and a quick ratio of 0.59. Sprouts Farmers Market has a 1 year low of $44.02 and a 1 year high of $155.64.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.14. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 28.24%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the company earned $0.65 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, equities research analysts forecast that Sprouts Farmers Market will post 3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dustin Hamilton sold 1,997 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $99.20, for a total value of $198,102.40. Following the transaction, the insider now directly owns 26,172 shares in the company, valued at approximately $2,596,262.40. This represents a 7.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $112.41, for a total transaction of $642,310.74. Following the completion of the sale, the chief executive officer now owns 211,004 shares of the company’s stock, valued at $23,718,959.64. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,802 shares of company stock valued at $3,887,838 over the last 90 days. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sprouts Farmers Market

Several hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in Sprouts Farmers Market by 3.6% during the third quarter. CIBC Asset Management Inc now owns 2,917 shares of the company’s stock worth $322,000 after purchasing an additional 101 shares during the period. Caprock Group LLC grew its holdings in shares of Sprouts Farmers Market by 1.9% in the third quarter. Caprock Group LLC now owns 5,477 shares of the company’s stock valued at $605,000 after purchasing an additional 102 shares in the last quarter. UMB Bank n.a. increased its stake in Sprouts Farmers Market by 26.3% during the 3rd quarter. UMB Bank n.a. now owns 605 shares of the company’s stock worth $67,000 after buying an additional 126 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Sprouts Farmers Market by 0.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 18,717 shares of the company’s stock worth $1,566,000 after buying an additional 148 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in 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 buying an additional 158 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.