Sprouts Farmers Market (NASDAQ:SFM) PT Raised to $40.00 at BMO Capital Markets

Sprouts Farmers Market (NASDAQ:SFM) had its price target lifted by BMO Capital Markets from $31.00 to $40.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “underperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential downside of 45.71% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group increased their price objective on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Oppenheimer reiterated a “market perform” rating on shares of Sprouts Farmers Market in a research report on Monday, April 29th. Bank of America upgraded Sprouts Farmers Market from an “underperform” rating to a “buy” rating and upped their price objective for the company from $30.00 to $70.00 in a research report on Tuesday, February 27th. Finally, Evercore ISI dropped their target price on Sprouts Farmers Market from $62.00 to $61.00 and set an “in-line” rating for the company in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $53.50.

Sprouts Farmers Market Price Performance

NASDAQ:SFM traded up $1.68 on Thursday, reaching $73.68. 2,076,372 shares of the company’s stock traded hands, compared to its average volume of 1,492,326. The firm has a market cap of $7.40 billion, a PE ratio of 25.41, a P/E/G ratio of 2.50 and a beta of 0.50. The company has a quick ratio of 0.51, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. The stock has a 50-day simple moving average of $63.94 and a 200-day simple moving average of $52.87. Sprouts Farmers Market has a 12 month low of $32.12 and a 12 month high of $74.03.

Sprouts Farmers Market (NASDAQ:SFM) last issued its earnings results on Wednesday, May 1st. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.12. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.85 billion. Sprouts Farmers Market had a net margin of 4.25% and a return on equity of 26.77%. Sprouts Farmers Market’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities research analysts forecast that Sprouts Farmers Market will post 3.1 earnings per share for the current year.

Insider Activity at Sprouts Farmers Market

In other news, CEO Jack Sinclair sold 31,710 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.03, for a total value of $1,998,681.30. Following the completion of the transaction, the chief executive officer now directly owns 274,981 shares of the company’s stock, valued at approximately $17,332,052.43. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Brandon F. Lombardi sold 22,799 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $59.98, for a total value of $1,367,484.02. Following the completion of the sale, the insider now owns 8,328 shares of the company’s stock, valued at approximately $499,513.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jack Sinclair sold 31,710 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $63.03, for a total value of $1,998,681.30. Following the transaction, the chief executive officer now owns 274,981 shares in the company, valued at $17,332,052.43. 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 over the last ninety days. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Csenge Advisory Group acquired a new stake in shares of Sprouts Farmers Market during the first quarter worth about $232,000. TFB Advisors LLC purchased a new stake in shares of Sprouts Farmers Market in the 1st quarter valued at $432,000. GSA Capital Partners LLP purchased a new stake in shares of Sprouts Farmers Market in the 1st quarter valued at $1,643,000. Quent Capital LLC increased its stake in shares of Sprouts Farmers Market by 23.5% in the first quarter. Quent Capital LLC now owns 3,749 shares of the company’s stock worth $242,000 after acquiring an additional 714 shares during the period. Finally, Nordea Investment Management AB raised its holdings in shares of Sprouts Farmers Market by 9.8% during the first quarter. Nordea Investment Management AB now owns 3,336,707 shares of the company’s stock worth $216,419,000 after purchasing an additional 297,067 shares during 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.