Deutsche Bank Aktiengesellschaft Raises Sprouts Farmers Market (NASDAQ:SFM) Price Target to $63.00

Sprouts Farmers Market (NASDAQ:SFM) had its price target increased by analysts at Deutsche Bank Aktiengesellschaft from $60.00 to $63.00 in a report issued on Thursday, Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential downside of 15.88% from the stock’s current price.

A number of other analysts have also recently issued reports on SFM. BMO Capital Markets boosted their price objective on Sprouts Farmers Market from $31.00 to $40.00 and gave the company an “underperform” rating in a research report on Thursday, May 2nd. Bank of America upgraded Sprouts Farmers Market from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $70.00 in a research note on Tuesday, February 27th. Evercore ISI dropped their price objective on 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. Wells Fargo & Company increased their price objective on Sprouts Farmers Market from $48.00 to $62.00 and gave the stock an “underweight” rating in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group raised their target price on Sprouts Farmers Market from $56.00 to $71.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Sprouts Farmers Market presently has an average rating of “Hold” and an average target price of $56.13.

Sprouts Farmers Market Stock Performance

SFM traded up $0.23 on Thursday, hitting $74.89. The company had a trading volume of 181,210 shares, compared to its average volume of 1,356,074. The company’s fifty day moving average price is $64.76 and its 200 day moving average price is $53.62. Sprouts Farmers Market has a 1-year low of $32.12 and a 1-year high of $75.95. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.65. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 25.79, a price-to-earnings-growth ratio of 2.64 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. Equities analysts predict that Sprouts Farmers Market will post 3.1 earnings per share for the current fiscal year.

Insider Activity at Sprouts Farmers Market

In other Sprouts Farmers Market news, COO Nicholas Konat sold 31,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $74.14, for a total transaction of $2,298,340.00. Following the transaction, the chief operating officer now owns 51,495 shares in the company, valued at $3,817,839.30. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Sprouts Farmers Market news, COO Nicholas Konat sold 31,000 shares of Sprouts Farmers Market stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $74.14, for a total value of $2,298,340.00. Following the sale, the chief operating officer now owns 51,495 shares of the company’s stock, valued at approximately $3,817,839.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandon F. Lombardi sold 22,799 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $59.98, for a total value of $1,367,484.02. Following the transaction, the insider now owns 8,328 shares of the company’s stock, valued at $499,513.44. The disclosure for this sale can be found here. Insiders have sold a total of 198,348 shares of company stock worth $12,818,196 over the last 90 days. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its position in shares of Sprouts Farmers Market by 21.9% during the 3rd quarter. Raymond James & Associates now owns 15,832 shares of the company’s stock valued at $678,000 after acquiring an additional 2,842 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Sprouts Farmers Market by 41.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,793 shares of the company’s stock valued at $1,960,000 after acquiring an additional 13,372 shares during the period. Strs Ohio lifted its position in shares of Sprouts Farmers Market by 14.6% during the 3rd quarter. Strs Ohio now owns 9,400 shares of the company’s stock valued at $402,000 after acquiring an additional 1,200 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Sprouts Farmers Market by 5.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 167,344 shares of the company’s stock valued at $7,162,000 after acquiring an additional 8,931 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Sprouts Farmers Market by 3.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 7,659 shares of the company’s stock valued at $328,000 after acquiring an additional 256 shares during the period.

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.