Bank of America Boosts Sprouts Farmers Market (NASDAQ:SFM) Price Target to $115.00

Sprouts Farmers Market (NASDAQ:SFM) had its price objective increased by Bank of America from $100.00 to $115.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also recently commented on SFM. Deutsche Bank Aktiengesellschaft upped their price target on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a hold rating in a report on Monday, July 29th. Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an underweight rating to an equal weight rating and upped their target price for the stock from $62.00 to $90.00 in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their price target on shares of Sprouts Farmers Market from $89.00 to $111.00 and gave the company a buy rating in a research note on Wednesday, July 31st. UBS Group boosted their price target on Sprouts Farmers Market from $68.00 to $94.00 and gave the company a neutral rating in a report on Friday, June 28th. Finally, Evercore ISI raised their price objective on Sprouts Farmers Market from $84.00 to $96.00 and gave the stock an in-line rating in a report on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $95.25.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ:SFM opened at $98.83 on Thursday. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 0.01. Sprouts Farmers Market has a 12 month low of $38.46 and a 12 month high of $104.41. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 34.08, a PEG ratio of 2.78 and a beta of 0.56. The firm’s 50-day moving average is $92.01 and its 200 day moving average is $77.57.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Monday, July 29th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.16. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Research analysts predict that Sprouts Farmers Market will post 3.37 EPS for the current year.

Insider Activity

In other news, CEO Jack Sinclair sold 5,718 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $77.07, for a total value of $440,686.26. Following the completion of the transaction, the chief executive officer now directly owns 256,716 shares of the company’s stock, valued at approximately $19,785,102.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Jack Sinclair sold 5,718 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $77.07, for a total transaction of $440,686.26. Following the completion of the transaction, the chief executive officer now owns 256,716 shares in the company, valued at approximately $19,785,102.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timmi Zalatoris sold 56,800 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 10,895 shares of the company’s stock, valued at approximately $1,089,500. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,942 shares of company stock worth $12,373,193. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Dorsey Wright & Associates acquired a new stake in shares of Sprouts Farmers Market during the fourth quarter worth $1,378,000. Cetera Advisors LLC acquired a new stake in Sprouts Farmers Market during the 1st quarter worth about $349,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Sprouts Farmers Market by 8.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 616,429 shares of the company’s stock worth $39,748,000 after acquiring an additional 48,225 shares during the period. Point72 Asset Management L.P. grew its stake in Sprouts Farmers Market by 411.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,538,410 shares of the company’s stock valued at $74,013,000 after purchasing an additional 1,237,610 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Sprouts Farmers Market by 78.8% in the first quarter. Inspire Investing LLC now owns 26,113 shares of the company’s stock valued at $1,684,000 after purchasing an additional 11,508 shares during the period.

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.