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

Sprouts Farmers Market (NASDAQ:SFM) had its price objective lifted by Wells Fargo & Company from $48.00 to $62.00 in a report released on Thursday morning, Benzinga reports. They currently have an underweight rating on the stock.

SFM has been the topic of several other reports. Oppenheimer reaffirmed a market perform rating on shares of Sprouts Farmers Market in a research report on Monday, April 29th. BMO Capital Markets increased 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. Bank of America raised Sprouts Farmers Market from an underperform rating to a buy rating and increased their target price for the stock from $30.00 to $70.00 in a research report on Tuesday, February 27th. Evercore ISI cut their target price on Sprouts Farmers Market from $62.00 to $61.00 and set an in-line rating on the stock in a research report on Tuesday, April 16th. Finally, The Goldman Sachs Group increased their target price 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 equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Sprouts Farmers Market presently has a consensus rating of Hold and a consensus price target of $53.50.

Sprouts Farmers Market Trading Up 2.3 %

NASDAQ:SFM traded up $1.68 during mid-day trading on Thursday, reaching $73.68. The company’s stock had a trading volume of 2,076,372 shares, compared to its average volume of 1,492,326. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.51. The stock has a market cap of $7.40 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.50 and a beta of 0.50. The company’s fifty day simple moving average is $63.94 and its two-hundred day simple moving average is $52.87. Sprouts Farmers Market has a twelve month low of $32.12 and a twelve month high of $74.03.

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

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, VP Stacy W. Hilgendorf sold 3,774 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $62.26, for a total value of $234,969.24. Following the transaction, the vice president now directly owns 10,748 shares of the company’s stock, valued at $669,170.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Brandon F. Lombardi sold 22,799 shares of Sprouts Farmers Market stock in a transaction dated 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 sale, the insider now directly owns 8,328 shares of the company’s stock, valued at $499,513.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Stacy W. Hilgendorf sold 3,774 shares of Sprouts Farmers Market stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $62.26, for a total value of $234,969.24. Following the sale, the vice president now directly owns 10,748 shares in the company, valued at $669,170.48. The disclosure for this sale can be found here. Insiders have sold 160,852 shares of company stock valued at $10,032,745 over the last three months. 1.10% of the stock is owned by company insiders.

Institutional Trading of Sprouts Farmers Market

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PFG Investments LLC grew its stake in Sprouts Farmers Market by 4.2% in the first quarter. PFG Investments LLC now owns 4,504 shares of the company’s stock worth $290,000 after purchasing an additional 181 shares in the last quarter. Parallel Advisors LLC grew its stake in Sprouts Farmers Market by 11.7% in the fourth quarter. Parallel Advisors LLC now owns 1,987 shares of the company’s stock worth $96,000 after purchasing an additional 208 shares in the last quarter. Xponance Inc. grew its stake in Sprouts Farmers Market by 1.4% in the fourth quarter. Xponance Inc. now owns 14,976 shares of the company’s stock worth $720,000 after purchasing an additional 209 shares in the last quarter. Baldwin Brothers LLC MA grew its stake in Sprouts Farmers Market by 20.0% in the fourth quarter. Baldwin Brothers LLC MA now owns 1,260 shares of the company’s stock worth $61,000 after purchasing an additional 210 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its stake in Sprouts Farmers Market by 3.1% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 7,149 shares of the company’s stock worth $344,000 after purchasing an additional 216 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.