Wells Fargo & Company Boosts 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 report report published on Thursday morning, Benzinga reports. They currently have an underweight rating on the stock.

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

Sprouts Farmers Market Stock Up 2.3 %

SFM opened at $73.68 on Thursday. The business has a 50 day moving average price of $63.94 and a 200 day moving average price of $52.94. Sprouts Farmers Market has a twelve month low of $32.12 and a twelve month high of $74.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.51 and a current ratio of 1.19. The firm has a market cap of $7.40 billion, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.55 and a beta of 0.50.

Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Wednesday, May 1st. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.12. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts forecast that Sprouts Farmers Market will post 3.1 EPS for the current year.

Insider Activity

In other news, COO Nicholas Konat sold 31,846 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was 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 in the company, valued at $5,125,414.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Nicholas Konat sold 31,846 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $62.13, for a total value of $1,978,591.98. Following the sale, the chief operating officer now owns 82,495 shares of the company’s stock, valued at approximately $5,125,414.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Timmi Zalatoris sold 5,353 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $61.62, for a total value of $329,851.86. Following the completion of the sale, the insider now directly owns 10,895 shares in the company, valued at approximately $671,349.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,852 shares of company stock worth $10,032,745. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Sprouts Farmers Market

Several large investors have recently made changes to their positions in the company. Nordea Investment Management AB increased its holdings in Sprouts Farmers Market by 9.8% in the first quarter. Nordea Investment Management AB now owns 3,336,707 shares of the company’s stock valued at $216,419,000 after purchasing an additional 297,067 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in Sprouts Farmers Market by 411.4% in the fourth quarter. Point72 Asset Management L.P. now owns 1,538,410 shares of the company’s stock valued at $74,013,000 after purchasing an additional 1,237,610 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Sprouts Farmers Market by 36.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,478,588 shares of the company’s stock valued at $71,135,000 after purchasing an additional 398,901 shares during the last quarter. Boston Trust Walden Corp increased its holdings in Sprouts Farmers Market by 1.2% in the fourth quarter. Boston Trust Walden Corp now owns 1,477,341 shares of the company’s stock valued at $71,075,000 after purchasing an additional 17,565 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Sprouts Farmers Market by 6.6% in the third quarter. Invesco Ltd. now owns 1,436,821 shares of the company’s stock worth $61,496,000 after acquiring an additional 88,997 shares in 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.