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

Sprouts Farmers Market (NASDAQ:SFM) had its target price upped by stock analysts at Evercore ISI from $59.00 to $62.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price objective indicates a potential downside of 3.19% from the stock’s previous close.

SFM has been the subject of a number of other research reports. Bank of America raised Sprouts Farmers Market from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $70.00 in a research report on Tuesday, February 27th. The Goldman Sachs Group raised their target price on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Finally, StockNews.com lowered shares of Sprouts Farmers Market from a “buy” rating to a “hold” rating in a research note on Sunday, December 3rd. Five equities research 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 target price of $51.29.

Sprouts Farmers Market Stock Performance

Shares of SFM opened at $64.04 on Tuesday. Sprouts Farmers Market has a 52 week low of $32.12 and a 52 week high of $65.53. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 0.12. The stock has a market cap of $6.48 billion, a P/E ratio of 25.51, a P/E/G ratio of 2.31 and a beta of 0.49. The business’s 50 day moving average price is $56.83 and its 200-day moving average price is $48.59.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.69 billion. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. Sprouts Farmers Market’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Equities research analysts anticipate that Sprouts Farmers Market will post 2.95 earnings per share for the current fiscal year.

Insider Activity

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 31,710 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $17,332,052.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brandon F. Lombardi sold 3,865 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $62.21, for a total transaction of $240,441.65. Following the completion of the transaction, the insider now directly owns 8,328 shares of the company’s stock, valued at $518,084.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jack Sinclair sold 31,710 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were 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 of the company’s stock, valued at approximately $17,332,052.43. The disclosure for this sale can be found here. Insiders have sold 160,852 shares of company stock worth $10,032,745 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Sprouts Farmers Market

A number of institutional investors and hedge funds have recently made changes to their positions in SFM. Hennessy Advisors Inc. purchased a new position in shares of Sprouts Farmers Market in the 4th quarter worth approximately $23,992,000. ICA Group Wealth Management LLC bought a new stake in Sprouts Farmers Market in the fourth quarter worth $53,000. Congress Asset Management Co. MA boosted its stake in Sprouts Farmers Market by 6.7% during the fourth quarter. Congress Asset Management Co. MA now owns 872,019 shares of the company’s stock worth $41,953,000 after buying an additional 54,659 shares during the period. Vima LLC bought a new position in Sprouts Farmers Market during the fourth quarter valued at $157,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Sprouts Farmers Market by 36.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,478,588 shares of the company’s stock valued at $71,135,000 after acquiring an additional 398,901 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.