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

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

A number of other equities analysts also recently weighed in on SFM. Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an underweight rating to an equal weight rating and boosted their target price for the stock from $62.00 to $90.00 in a report on Tuesday, July 30th. UBS Group boosted their price objective 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. BMO Capital Markets upgraded shares of Sprouts Farmers Market from an underperform rating to a market perform rating and raised their target price for the company from $40.00 to $102.00 in a research note on Tuesday, July 30th. Evercore ISI lifted their price target 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. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Sprouts Farmers Market from $63.00 to $76.00 and gave the company a hold rating in a research note on Monday, July 29th. Eight equities research 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 stock currently has a consensus rating of Hold and a consensus price target of $95.25.

Sprouts Farmers Market Price Performance

Shares of SFM opened at $99.67 on Thursday. The company has a 50 day moving average of $91.71 and a 200-day moving average of $77.08. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $9.98 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.96 and a beta of 0.56. Sprouts Farmers Market has a twelve month low of $38.46 and a twelve month high of $104.41.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the business earned $0.71 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts forecast that Sprouts Farmers Market will post 3.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dustin Hamilton sold 500 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total transaction of $48,760.00. Following the transaction, the insider now owns 27,188 shares in the company, valued at $2,651,373.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,718 shares of Sprouts Farmers Market stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $77.07, for a total value of $440,686.26. Following the completion of the sale, the chief executive officer now owns 256,716 shares in the company, valued at approximately $19,785,102.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dustin Hamilton sold 500 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $97.52, for a total transaction of $48,760.00. Following the completion of the sale, the insider now directly owns 27,188 shares of the company’s stock, valued at approximately $2,651,373.76. The disclosure for this sale can be found here. Insiders sold 126,942 shares of company stock worth $12,373,193 over the last three months. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Several institutional investors have recently made changes to their positions in the stock. International Assets Investment Management LLC raised its position in Sprouts Farmers Market by 2,152.8% during the fourth quarter. International Assets Investment Management LLC now owns 65,670 shares of the company’s stock valued at $3,159,000 after purchasing an additional 62,755 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Sprouts Farmers Market by 10.3% during the 4th quarter. Russell Investments Group Ltd. now owns 77,752 shares of the company’s stock valued at $3,741,000 after purchasing an additional 7,252 shares during the last quarter. Van ECK Associates Corp increased its position in Sprouts Farmers Market by 267.2% during the 4th quarter. Van ECK Associates Corp now owns 35,565 shares of the company’s stock worth $1,711,000 after purchasing an additional 25,879 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Sprouts Farmers Market by 66.6% in the 4th quarter. Natixis Advisors L.P. now owns 19,773 shares of the company’s stock valued at $951,000 after purchasing an additional 7,901 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Sprouts Farmers Market by 3.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,676 shares of the company’s stock valued at $321,000 after buying an additional 244 shares in 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.