Sprouts Farmers Market (NASDAQ:SFM) Given New $62.00 Price Target at Evercore ISI

Sprouts Farmers Market (NASDAQ:SFM) had its price objective upped by Evercore ISI from $59.00 to $62.00 in a research report sent to investors on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other brokerages have also recently commented on SFM. StockNews.com cut shares of Sprouts Farmers Market from a buy rating to a hold rating in a research note on Sunday, December 3rd. The Goldman Sachs Group raised 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. Finally, Bank of America raised shares of Sprouts Farmers Market from an underperform rating to a buy rating and raised their price objective for the stock from $30.00 to $70.00 in a report on Tuesday, February 27th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $51.29.

Sprouts Farmers Market Stock Up 0.7 %

NASDAQ SFM opened at $64.48 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 firm has a 50-day simple moving average of $57.35 and a 200 day simple moving average of $48.88. Sprouts Farmers Market has a twelve month low of $32.12 and a twelve month high of $65.53. The stock has a market cap of $6.53 billion, a PE ratio of 25.69, a PEG ratio of 2.33 and a beta of 0.49.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.04. The firm had revenue of $1.70 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. On average, research analysts forecast that Sprouts Farmers Market will post 2.95 EPS for the current year.

Insider Activity at Sprouts Farmers Market

In related news, CMO Alisa Gmelich sold 479 shares of the firm’s 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 completion of the sale, the chief marketing officer now owns 2,987 shares of the company’s stock, valued at $186,597.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Sprouts Farmers Market news, COO Nicholas Konat sold 31,846 shares of Sprouts Farmers Market stock in a transaction 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 completion of the sale, the chief operating officer now owns 82,495 shares of the company’s stock, valued at approximately $5,125,414.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Alisa Gmelich sold 479 shares of Sprouts Farmers Market stock in a transaction on Friday, March 15th. The stock was sold at an average price of $62.47, for a total transaction of $29,923.13. Following the sale, the chief marketing officer now directly owns 2,987 shares of the company’s stock, valued at approximately $186,597.89. The disclosure for this sale can be found here. Insiders sold a total of 160,852 shares of company stock valued at $10,032,745 over the last quarter. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of Sprouts Farmers Market

A number of institutional investors have recently bought and sold shares of SFM. Raymond James Financial Services Advisors Inc. grew its holdings in Sprouts Farmers Market by 17.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 22,592 shares of the company’s stock worth $722,000 after acquiring an additional 3,389 shares during the period. Natixis Advisors L.P. bought a new position in shares of Sprouts Farmers Market during the first quarter worth $387,000. Rhumbline Advisers boosted its position in shares of Sprouts Farmers Market by 1.6% during the first quarter. Rhumbline Advisers now owns 336,039 shares of the company’s stock worth $10,747,000 after purchasing an additional 5,334 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Sprouts Farmers Market by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,142 shares of the company’s stock worth $1,316,000 after purchasing an additional 3,923 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of Sprouts Farmers Market by 26.1% during the first quarter. Great West Life Assurance Co. Can now owns 78,169 shares of the company’s stock worth $2,588,000 after purchasing an additional 16,200 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.