Bank of America Raises Sprouts Farmers Market (NASDAQ:SFM) Price Target to $135.00

Sprouts Farmers Market (NASDAQ:SFM) had its target price raised by equities researchers at Bank of America from $115.00 to $135.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target suggests a potential upside of 13.14% from the company’s previous close.

A number of other equities research analysts also recently commented on the stock. Roth Mkm lifted their target price on shares of Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Royal Bank of Canada began coverage on Sprouts Farmers Market in a research report on Thursday, September 12th. They set a “sector perform” rating and a $107.00 price objective for the company. The Goldman Sachs Group increased their target price on Sprouts Farmers Market from $111.00 to $127.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company upgraded Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $62.00 to $90.00 in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.40.

Sprouts Farmers Market Trading Up 0.5 %

Shares of NASDAQ:SFM opened at $119.32 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.03 and a quick ratio of 0.44. Sprouts Farmers Market has a 1 year low of $39.76 and a 1 year high of $120.69. The company has a market cap of $11.95 billion, a P/E ratio of 37.40, a PEG ratio of 3.36 and a beta of 0.56. The stock’s fifty day moving average price is $107.64 and its 200-day moving average price is $89.43.

Sprouts Farmers Market (NASDAQ:SFM) last posted its 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 business 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 business earned $0.71 EPS. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Sprouts Farmers Market will post 3.37 earnings per share for the current year.

Insiders Place Their Bets

In other Sprouts Farmers Market news, insider Dustin Hamilton sold 921 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $113.60, for a total value of $104,625.60. Following the completion of the transaction, the insider now directly owns 25,251 shares in the company, valued at $2,868,513.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Dustin Hamilton sold 921 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $113.60, for a total value of $104,625.60. Following the transaction, the insider now directly owns 25,251 shares in the company, valued at $2,868,513.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $112.41, for a total value of $642,310.74. Following the sale, the chief executive officer now owns 211,004 shares of the company’s stock, valued at $23,718,959.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,142 shares of company stock worth $12,401,112. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Sprouts Farmers Market

Several hedge funds have recently modified their holdings of SFM. UMB Bank n.a. grew its stake in Sprouts Farmers Market by 26.3% during the third quarter. UMB Bank n.a. now owns 605 shares of the company’s stock valued at $67,000 after acquiring an additional 126 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Sprouts Farmers Market by 0.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 18,717 shares of the company’s stock valued at $1,566,000 after purchasing an additional 148 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Sprouts Farmers Market by 4.5% in the third quarter. Sequoia Financial Advisors LLC now owns 3,645 shares of the company’s stock worth $402,000 after purchasing an additional 158 shares during the last quarter. Ironwood Investment Counsel LLC lifted its position in shares of Sprouts Farmers Market by 3.8% in the first quarter. Ironwood Investment Counsel LLC now owns 5,277 shares of the company’s stock worth $340,000 after buying an additional 195 shares in the last quarter. Finally, Crewe Advisors LLC boosted its stake in Sprouts Farmers Market by 223.5% during the second quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock valued at $27,000 after buying an additional 219 shares during the last quarter.

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.