Sprouts Farmers Market (NASDAQ:SFM) Price Target Increased to $100.00 by Analysts at Bank of America

Sprouts Farmers Market (NASDAQ:SFM) had its price objective increased by Bank of America from $84.00 to $100.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

SFM has been the topic of a number of other research reports. Evercore ISI increased their price target on shares of Sprouts Farmers Market from $77.00 to $80.00 and gave the company an in-line rating in a report on Tuesday, July 16th. The Goldman Sachs Group lifted their price target on shares of Sprouts Farmers Market from $78.00 to $89.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. UBS Group lifted their price target on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a neutral rating in a research note on Friday, June 28th. Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an underweight rating to an equal weight rating and raised their price objective for the company from $62.00 to $90.00 in a research report on Tuesday. Finally, Oppenheimer restated a market perform rating on shares of Sprouts Farmers Market in a research report on Monday, April 29th. Eight equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $93.38.

Sprouts Farmers Market Price Performance

Shares of NASDAQ SFM opened at $97.67 on Tuesday. Sprouts Farmers Market has a fifty-two week low of $37.10 and a fifty-two week high of $103.80. The company has a 50 day simple moving average of $81.83 and a two-hundred day simple moving average of $68.85. The company has a market capitalization of $9.78 billion, a price-to-earnings ratio of 33.68, a P/E/G ratio of 2.86 and a beta of 0.55. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 1.03.

Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Monday, July 29th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.16. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that Sprouts Farmers Market will post 3.38 EPS for the current fiscal year.

Insider Transactions at Sprouts Farmers Market

In other news, VP Stacy W. Hilgendorf sold 1,904 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $101.12, for a total value of $192,532.48. Following the sale, the vice president now directly owns 10,237 shares in the company, valued at approximately $1,035,165.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Stacy W. Hilgendorf sold 1,904 shares of Sprouts Farmers Market stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $101.12, for a total transaction of $192,532.48. Following the completion of the transaction, the vice president now directly owns 10,237 shares of the company’s stock, valued at approximately $1,035,165.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Timmi Zalatoris sold 56,800 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $5,680,000.00. Following the completion of the sale, the insider now directly owns 10,895 shares of the company’s stock, valued at $1,089,500. The disclosure for this sale can be found here. Insiders have sold a total of 132,746 shares of company stock worth $11,648,541 in the last three months. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Several large investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in shares of Sprouts Farmers Market in the 1st quarter valued at about $26,000. Crewe Advisors LLC raised its holdings in shares of Sprouts Farmers Market by 223.5% in the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock valued at $27,000 after purchasing an additional 219 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Sprouts Farmers Market during the 2nd quarter worth approximately $29,000. Blue Bell Private Wealth Management LLC bought a new position in shares of Sprouts Farmers Market during the 1st quarter worth approximately $36,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Sprouts Farmers Market during the 4th quarter worth approximately $38,000.

About Sprouts Farmers Market

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.