Royal Bank of Canada Reaffirms Sector Perform Rating for Sprouts Farmers Market (NASDAQ:SFM)

Sprouts Farmers Market (NASDAQ:SFM)‘s stock had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $160.00 price objective on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 6.82% from the company’s current price.

Several other analysts have also weighed in on the company. The Goldman Sachs Group boosted their price objective on Sprouts Farmers Market from $174.00 to $200.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on Sprouts Farmers Market from $131.00 to $136.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. Jefferies Financial Group lifted their price objective on shares of Sprouts Farmers Market from $119.00 to $139.00 and gave the stock a “hold” rating in a report on Tuesday, February 25th. Roth Mkm increased their target price on shares of Sprouts Farmers Market from $105.00 to $146.00 and gave the stock a “neutral” rating in a report on Friday, February 21st. Finally, Wells Fargo & Company lifted their price target on shares of Sprouts Farmers Market from $140.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $167.00.

Sprouts Farmers Market Price Performance

Shares of NASDAQ SFM opened at $149.78 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.13 and a debt-to-equity ratio of 0.01. Sprouts Farmers Market has a fifty-two week low of $61.61 and a fifty-two week high of $178.99. The business has a 50 day moving average price of $151.44 and a two-hundred day moving average price of $136.79. The firm has a market cap of $14.68 billion, a PE ratio of 39.84, a price-to-earnings-growth ratio of 2.31 and a beta of 0.67.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.07. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Sprouts Farmers Market had a net margin of 4.93% and a return on equity of 29.86%. Sell-side analysts expect that Sprouts Farmers Market will post 4.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprouts Farmers Market

In related news, CMO Alisa Gmelich sold 445 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $137.42, for a total value of $61,151.90. Following the completion of the sale, the chief marketing officer now owns 4,436 shares of the company’s stock, valued at $609,595.12. This represents a 9.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jack Sinclair sold 2,935 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $138.74, for a total transaction of $407,201.90. Following the transaction, the chief executive officer now directly owns 149,499 shares in the company, valued at approximately $20,741,491.26. The trade was a 1.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 94,784 shares of company stock worth $13,231,786. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprouts Farmers Market

A number of institutional investors have recently added to or reduced their stakes in SFM. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Sprouts Farmers Market in the 4th quarter worth $31,000. Avior Wealth Management LLC raised its position in Sprouts Farmers Market by 93.5% in the fourth quarter. Avior Wealth Management LLC now owns 269 shares of the company’s stock worth $34,000 after acquiring an additional 130 shares in the last quarter. GeoWealth Management LLC lifted its holdings in Sprouts Farmers Market by 115.4% in the 4th quarter. GeoWealth Management LLC now owns 265 shares of the company’s stock valued at $34,000 after acquiring an additional 142 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Sprouts Farmers Market by 84.1% during the 4th quarter. Global Retirement Partners LLC now owns 289 shares of the company’s stock valued at $37,000 after purchasing an additional 132 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Sprouts Farmers Market by 80.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock valued at $40,000 after purchasing an additional 162 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.