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

Sprouts Farmers Market (NASDAQ:SFM) had its price target lifted by Wells Fargo & Company from $48.00 to $62.00 in a research note published on Thursday, Benzinga reports. The firm currently has an underweight rating on the stock.

Other research analysts have also recently issued reports about the company. The Goldman Sachs Group upped their price objective on Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Evercore ISI lowered their price target 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. Oppenheimer reissued a market perform rating on shares of Sprouts Farmers Market in a report on Monday, April 29th. BMO Capital Markets upped their target price on shares of Sprouts Farmers Market from $31.00 to $40.00 and gave the company an underperform rating in a report on Thursday. Finally, Bank of America raised shares of Sprouts Farmers Market from an underperform rating to a buy rating and increased their target price for the company from $30.00 to $70.00 in a research report on Tuesday, February 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $53.50.

Sprouts Farmers Market Stock Performance

Shares of Sprouts Farmers Market stock opened at $73.68 on Thursday. The firm has a market cap of $7.40 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.64 and a beta of 0.50. The company has a quick ratio of 0.65, a current ratio of 1.19 and a debt-to-equity ratio of 0.11. Sprouts Farmers Market has a 52 week low of $32.12 and a 52 week high of $74.03. The business’s fifty day simple moving average is $63.94 and its 200-day simple moving average is $53.01.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.12. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts forecast that Sprouts Farmers Market will post 3.1 earnings per share for the current year.

Insider Buying and Selling at Sprouts Farmers Market

In related news, insider Brandon F. Lombardi sold 22,799 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $59.98, for a total transaction of $1,367,484.02. Following the completion of the sale, the insider now directly owns 8,328 shares of the company’s stock, valued at $499,513.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Brandon F. Lombardi sold 22,799 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were 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 in the company, valued at $499,513.44. The sale was disclosed in a legal filing with the SEC, which is available 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 stock was sold at an average price of $62.47, for a total value of $26,049.99. Following the transaction, the vice president now owns 10,331 shares in the company, valued at approximately $645,377.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,852 shares of company stock worth $10,032,745. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sprouts Farmers Market

Institutional investors have recently made changes to their positions in the stock. VisionPoint Advisory Group LLC purchased a new position in shares of Sprouts Farmers Market in the third quarter valued at $25,000. Rise Advisors LLC purchased a new position in Sprouts Farmers Market during the 1st quarter valued at about $26,000. Blue Bell Private Wealth Management LLC acquired a new position in Sprouts Farmers Market during the first quarter worth about $36,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Sprouts Farmers Market in the fourth quarter valued at about $38,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Sprouts Farmers Market in the fourth quarter valued at approximately $43,000.

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.