Wells Fargo & Company Boosts Sprouts Farmers Market (NASDAQ:SFM) Price Target to $62.00

Sprouts Farmers Market (NASDAQ:SFM) had its target price increased by Wells Fargo & Company from $48.00 to $62.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an underweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a buy rating in a research note on Tuesday, March 5th. Oppenheimer reissued a market perform rating on shares of Sprouts Farmers Market in a research note on Monday, April 29th. Bank of America raised shares of Sprouts Farmers Market from an underperform rating to a buy rating and boosted their price objective for the stock from $30.00 to $70.00 in a research note on Tuesday, February 27th. Evercore ISI dropped their price objective on shares of Sprouts Farmers Market from $62.00 to $61.00 and set an in-line rating on the stock in a research note on Tuesday, April 16th. Finally, BMO Capital Markets boosted their price objective on shares of Sprouts Farmers Market from $31.00 to $40.00 and gave the stock an underperform rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $53.50.

Sprouts Farmers Market Trading Up 2.3 %

Shares of SFM opened at $73.68 on Thursday. The firm’s 50-day moving average price is $63.94 and its 200-day moving average price is $52.94. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.55 and a beta of 0.50. The company has a current ratio of 1.19, a quick ratio of 0.51 and a debt-to-equity ratio of 0.11. Sprouts Farmers Market has a 1-year low of $32.12 and a 1-year high of $74.03.

Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Wednesday, May 1st. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.12. The firm had revenue of $1.88 billion for 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%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. Sell-side analysts anticipate that Sprouts Farmers Market will post 3.1 EPS for the current year.

Insider Activity

In other news, VP Stacy W. Hilgendorf sold 3,774 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $62.26, for a total transaction of $234,969.24. Following the completion of the transaction, the vice president now directly owns 10,748 shares of the company’s stock, valued at $669,170.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Stacy W. Hilgendorf sold 3,774 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $62.26, for a total transaction of $234,969.24. Following the completion of the transaction, the vice president now directly owns 10,748 shares of the company’s stock, valued at $669,170.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stacy W. Hilgendorf sold 417 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $62.47, for a total transaction of $26,049.99. Following the transaction, the vice president now directly owns 10,331 shares of the company’s stock, valued at $645,377.57. The disclosure for this sale can be found here. Insiders sold 160,852 shares of company stock valued at $10,032,745 over the last three months. Insiders own 1.10% of the company’s stock.

Institutional Trading of Sprouts Farmers Market

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in 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 valued at $216,419,000 after buying an additional 297,067 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Sprouts Farmers Market by 411.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,538,410 shares of the company’s stock valued at $74,013,000 after buying an additional 1,237,610 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings 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 valued at $71,135,000 after buying an additional 398,901 shares during the last quarter. Boston Trust Walden Corp increased its holdings in Sprouts Farmers Market by 1.2% during the fourth quarter. Boston Trust Walden Corp now owns 1,477,341 shares of the company’s stock valued at $71,075,000 after buying an additional 17,565 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Sprouts Farmers Market by 6.6% during the third quarter. Invesco Ltd. now owns 1,436,821 shares of the company’s stock valued at $61,496,000 after buying an additional 88,997 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.