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

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

A number of other research firms also recently issued reports on SFM. 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 report on Tuesday, March 5th. Bank of America raised Sprouts Farmers Market from an underperform rating to a buy rating and lifted their price target for the stock from $30.00 to $70.00 in a research note on Tuesday, February 27th. Oppenheimer reissued a market perform rating on shares of Sprouts Farmers Market in a report on Monday, April 29th. BMO Capital Markets boosted their target price on Sprouts Farmers Market from $31.00 to $40.00 and gave the stock an underperform rating in a research report on Thursday. Finally, Evercore ISI cut their price objective on shares of Sprouts Farmers Market from $62.00 to $61.00 and set an in-line rating for the company in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $53.50.

Sprouts Farmers Market Price Performance

NASDAQ:SFM opened at $73.68 on Thursday. The firm has a market capitalization of $7.40 billion, a price-to-earnings ratio of 25.41, a P/E/G ratio of 2.64 and a beta of 0.50. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.65 and a current ratio of 1.19. The stock has a fifty day moving average of $63.94 and a 200 day moving average of $53.01. Sprouts Farmers Market has a 52-week low of $32.12 and a 52-week high of $74.03.

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 the consensus estimate of $1.00 by $0.12. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.85 billion. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. Sprouts Farmers Market’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, research analysts expect that Sprouts Farmers Market will post 3.1 EPS for the current fiscal year.

Insider Buying and Selling at Sprouts Farmers Market

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. VisionPoint Advisory Group LLC bought a new position in Sprouts Farmers Market in the third quarter worth $25,000. Rise Advisors LLC bought a new stake in shares of Sprouts Farmers Market in the 1st quarter worth approximately $26,000. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Sprouts Farmers Market in the 1st quarter worth approximately $36,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Sprouts Farmers Market in the 4th quarter worth approximately $38,000. Finally, GAMMA Investing LLC purchased a new position in Sprouts Farmers Market during the fourth quarter valued at $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.