Sprouts Farmers Market (NASDAQ:SFM) Price Target Cut to $61.00

Sprouts Farmers Market (NASDAQ:SFM) had its price target dropped by Evercore ISI from $62.00 to $61.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price target would suggest a potential downside of 2.27% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Bank of America upgraded Sprouts Farmers Market from an “underperform” rating to a “buy” rating and raised their price target for the company from $30.00 to $70.00 in a report on Tuesday, February 27th. The Goldman Sachs Group lifted their price target on Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Sprouts Farmers Market currently has a consensus rating of “Hold” and an average target price of $51.14.

Sprouts Farmers Market Stock Up 0.2 %

Sprouts Farmers Market stock opened at $62.42 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 1.10. The stock has a market cap of $6.32 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.27 and a beta of 0.50. The stock has a fifty day moving average of $60.61 and a 200 day moving average of $50.92. Sprouts Farmers Market has a one year low of $32.12 and a one year high of $65.53.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.69 billion. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. As a group, sell-side analysts predict that Sprouts Farmers Market will post 2.95 EPS for the current year.

Insider Transactions at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Brandon F. Lombardi sold 22,799 shares of Sprouts Farmers Market stock in a transaction on Monday, February 26th. The stock was sold at an average price of $59.98, for a total transaction of $1,367,484.02. Following the completion of the sale, the insider now directly owns 8,328 shares of the company’s stock, valued at approximately $499,513.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Nicholas Konat sold 31,846 shares of Sprouts Farmers Market stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $62.13, for a total transaction of $1,978,591.98. Following the transaction, the chief operating officer now directly owns 82,495 shares of the company’s stock, valued at $5,125,414.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brandon F. Lombardi sold 22,799 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $59.98, for a total value of $1,367,484.02. Following the sale, the insider now owns 8,328 shares of the company’s stock, valued at approximately $499,513.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,852 shares of company stock valued at $10,032,745. 1.10% of the stock is currently owned by company insiders.

Institutional Trading of Sprouts Farmers Market

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Sprouts Farmers Market by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 11,017,621 shares of the company’s stock worth $352,344,000 after purchasing an additional 57,361 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Sprouts Farmers Market by 2.2% during the first quarter. Renaissance Technologies LLC now owns 5,898,332 shares of the company’s stock worth $188,629,000 after acquiring an additional 128,000 shares during the last quarter. State Street Corp grew its stake in shares of Sprouts Farmers Market by 3.0% during the first quarter. State Street Corp now owns 3,854,433 shares of the company’s stock worth $135,021,000 after acquiring an additional 112,789 shares during the last quarter. Morgan Stanley increased its holdings in shares of Sprouts Farmers Market by 111.3% during the fourth quarter. Morgan Stanley now owns 3,093,805 shares of the company’s stock valued at $100,146,000 after acquiring an additional 1,629,709 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Sprouts Farmers Market by 614.5% in the 4th quarter. Nordea Investment Management AB now owns 3,039,640 shares of the company’s stock valued at $146,359,000 after purchasing an additional 2,614,241 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.