Sprouts Farmers Market (NASDAQ:SFM) Hits New 52-Week High at $66.08

Sprouts Farmers Market, Inc. (NASDAQ:SFM) shares hit a new 52-week high on Monday . The company traded as high as $66.08 and last traded at $65.07, with a volume of 394318 shares traded. The stock had previously closed at $65.15.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Evercore ISI dropped 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. 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 research note 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 research note on Tuesday, February 27th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.14.

Sprouts Farmers Market Price Performance

The stock has a market capitalization of $6.58 billion, a PE ratio of 25.96, a PEG ratio of 2.37 and a beta of 0.50. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The company’s 50 day simple moving average is $61.13 and its 200 day simple moving average is $51.30.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, topping the consensus estimate 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%. Sprouts Farmers Market’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 EPS. On average, equities analysts anticipate that Sprouts Farmers Market, Inc. will post 2.95 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Nicholas Konat sold 31,846 shares of the business’s 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 directly owns 82,495 shares of the company’s stock, valued at approximately $5,125,414.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brandon F. Lombardi sold 22,799 shares of the business’s stock in a transaction on Monday, February 26th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Also, COO Nicholas Konat sold 31,846 shares of the business’s 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 sale, the chief operating officer now directly owns 82,495 shares of the company’s stock, valued at $5,125,414.35. The disclosure for this sale can be found here. In the last three months, insiders sold 160,852 shares of company stock valued at $10,032,745. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Sprouts Farmers Market

Several hedge funds and other institutional investors have recently made changes to their positions in SFM. Parallel Advisors LLC lifted its holdings in Sprouts Farmers Market by 11.7% in the 4th quarter. Parallel Advisors LLC now owns 1,987 shares of the company’s stock worth $96,000 after buying an additional 208 shares in the last quarter. Xponance Inc. lifted its holdings in Sprouts Farmers Market by 1.4% in the 4th quarter. Xponance Inc. now owns 14,976 shares of the company’s stock worth $720,000 after buying an additional 209 shares in the last quarter. Baldwin Brothers LLC MA lifted its holdings in Sprouts Farmers Market by 20.0% in the 4th quarter. Baldwin Brothers LLC MA now owns 1,260 shares of the company’s stock worth $61,000 after buying an additional 210 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in Sprouts Farmers Market by 3.1% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 7,149 shares of the company’s stock worth $344,000 after buying an additional 216 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its position in shares of Sprouts Farmers Market by 4.5% in the 4th quarter. CreativeOne Wealth LLC now owns 5,137 shares of the company’s stock worth $247,000 after purchasing an additional 220 shares during 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.