Evercore ISI Boosts Sprouts Farmers Market (NASDAQ:SFM) Price Target to $62.00

Sprouts Farmers Market (NASDAQ:SFM) had its price target boosted by Evercore ISI from $59.00 to $62.00 in a report released on Tuesday, Benzinga reports. The firm currently has an in-line rating on the stock.

SFM has been the subject of a number of other research reports. The Goldman Sachs Group increased their price objective on Sprouts Farmers Market from $56.00 to $71.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Bank of America raised Sprouts Farmers Market from an underperform rating to a buy rating and raised their price target for the stock from $30.00 to $70.00 in a research note on Tuesday, February 27th. Finally, StockNews.com lowered Sprouts Farmers Market from a buy rating to a hold rating in a research note on Sunday, December 3rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Sprouts Farmers Market has an average rating of Hold and a consensus price target of $51.29.

Sprouts Farmers Market Stock Up 0.7 %

SFM stock opened at $64.48 on Tuesday. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $57.09 and its 200 day moving average is $48.70. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 2.33 and a beta of 0.49. Sprouts Farmers Market has a 1-year low of $32.12 and a 1-year high of $65.53.

Sprouts Farmers Market (NASDAQ:SFM) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.04. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.69 billion. Sprouts Farmers Market had a return on equity of 26.71% and a net margin of 3.79%. Sprouts Farmers Market’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 earnings per share. Sell-side analysts predict that Sprouts Farmers Market will post 2.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Nicholas Konat sold 31,846 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $62.13, for a total transaction of $1,978,591.98. Following the transaction, the chief operating officer now owns 82,495 shares of the company’s stock, valued at approximately $5,125,414.35. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Nicholas Konat sold 31,846 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $62.13, for a total transaction of $1,978,591.98. Following the completion of the transaction, the chief operating officer now owns 82,495 shares in the company, valued at approximately $5,125,414.35. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timmi Zalatoris sold 5,353 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $61.62, for a total value of $329,851.86. Following the completion of the sale, the insider now owns 10,895 shares of the company’s stock, valued at $671,349.90. The disclosure for this sale can be found here. Insiders have sold a total of 160,852 shares of company stock valued at $10,032,745 in the last quarter. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new stake in Sprouts Farmers Market in the fourth quarter valued at approximately $23,992,000. ICA Group Wealth Management LLC acquired a new stake in shares of Sprouts Farmers Market in the fourth quarter worth approximately $53,000. Congress Asset Management Co. MA boosted its stake in shares of Sprouts Farmers Market by 6.7% in the fourth quarter. Congress Asset Management Co. MA now owns 872,019 shares of the company’s stock worth $41,953,000 after acquiring an additional 54,659 shares during the last quarter. Vima LLC acquired a new stake in shares of Sprouts Farmers Market in the fourth quarter worth approximately $157,000. Finally, Goldman Sachs Group Inc. lifted its position in Sprouts Farmers Market by 36.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,478,588 shares of the company’s stock worth $71,135,000 after buying an additional 398,901 shares in the last quarter.

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.