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

Sprouts Farmers Market (NASDAQ:SFM) had its target price hoisted by Wells Fargo & Company from $48.00 to $62.00 in a research report released on Thursday, Benzinga reports. They currently have an underweight rating on the stock.

SFM has been the subject of several other reports. Evercore ISI decreased their price target on shares of Sprouts Farmers Market from $62.00 to $61.00 and set an in-line rating for the company in a research report on Tuesday, April 16th. The Goldman Sachs Group lifted their price objective on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a buy rating in a research report on Tuesday, March 5th. Bank of America raised shares of Sprouts Farmers Market from an underperform rating to a buy rating and lifted their price objective for the stock from $30.00 to $70.00 in a research report on Tuesday, February 27th. Oppenheimer reaffirmed a market perform rating on shares of Sprouts Farmers Market in a research report on Monday, April 29th. Finally, BMO Capital Markets lifted their price objective on shares of Sprouts Farmers Market from $31.00 to $40.00 and gave the stock an underperform rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $53.50.

Sprouts Farmers Market Stock Up 2.3 %

NASDAQ SFM traded up $1.68 during trading on Thursday, reaching $73.68. 2,076,372 shares of the company’s stock traded hands, compared to its average volume of 1,492,326. Sprouts Farmers Market has a 12-month low of $32.12 and a 12-month high of $74.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.51. The firm has a market cap of $7.40 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 2.50 and a beta of 0.50. The company’s 50 day simple moving average is $63.94 and its two-hundred day simple moving average is $52.87.

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

Insider Transactions at Sprouts Farmers Market

In related news, CEO Jack Sinclair sold 31,710 shares of Sprouts Farmers Market stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.03, for a total transaction of $1,998,681.30. Following the completion of the sale, the chief executive officer now owns 274,981 shares of the company’s stock, valued at $17,332,052.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CMO Alisa Gmelich sold 479 shares of Sprouts Farmers Market stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $62.47, for a total transaction of $29,923.13. Following the completion of the sale, the chief marketing officer now owns 2,987 shares of the company’s stock, valued at $186,597.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack Sinclair sold 31,710 shares of Sprouts Farmers Market stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $63.03, for a total value of $1,998,681.30. Following the sale, the chief executive officer now directly owns 274,981 shares of the company’s stock, valued at approximately $17,332,052.43. The disclosure for this sale can be found here. Insiders sold a total of 160,852 shares of company stock worth $10,032,745 over the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. VisionPoint Advisory Group LLC acquired a new position in Sprouts Farmers Market in the third quarter valued at approximately $25,000. Rise Advisors LLC acquired a new position in Sprouts Farmers Market in the first quarter valued at approximately $26,000. Blue Bell Private Wealth Management LLC acquired a new position in Sprouts Farmers Market in the first quarter valued at approximately $36,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Sprouts Farmers Market in the fourth quarter valued at approximately $38,000. Finally, GAMMA Investing LLC acquired a new position in Sprouts Farmers Market in the fourth quarter valued at approximately $43,000.

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.