Sprouts Farmers Market (NASDAQ:SFM) Sets New 1-Year High at $83.07

Sprouts Farmers Market, Inc. (NASDAQ:SFM)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $83.07 and last traded at $83.04, with a volume of 1016175 shares. The stock had previously closed at $82.75.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SFM. Bank of America upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “buy” rating and raised their target price for the stock from $30.00 to $70.00 in a report on Tuesday, February 27th. BMO Capital Markets upped 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. The Goldman Sachs Group raised 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. Evercore ISI upped their price target on shares of Sprouts Farmers Market from $74.00 to $75.00 and gave the company an “in-line” rating in a research report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Sprouts Farmers Market from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Sprouts Farmers Market has an average rating of “Hold” and an average target price of $57.88.

Sprouts Farmers Market Stock Up 0.4 %

The firm has a market cap of $8.35 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 3.16 and a beta of 0.51. The company’s 50-day simple moving average is $74.87 and its 200 day simple moving average is $62.24. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.65.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.12. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.85 billion. Sprouts Farmers Market had a return on equity of 26.77% and a net margin of 4.25%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. Research analysts anticipate that Sprouts Farmers Market, Inc. will post 3.12 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Brandon F. Lombardi sold 5,174 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $74.97, for a total transaction of $387,894.78. Following the completion of the sale, the insider now directly owns 6,052 shares of the company’s stock, valued at $453,718.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Brandon F. Lombardi sold 5,174 shares of Sprouts Farmers Market stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $74.97, for a total transaction of $387,894.78. Following the completion of the sale, the insider now owns 6,052 shares of the company’s stock, valued at $453,718.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Nicholas Konat sold 31,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer now directly owns 51,495 shares in the company, valued at approximately $3,817,839.30. The disclosure for this sale can be found here. In the last three months, insiders sold 60,433 shares of company stock valued at $4,522,865. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Sprouts Farmers Market

A number of hedge funds and other institutional investors have recently modified their holdings of SFM. Dorsey Wright & Associates purchased a new stake in shares of Sprouts Farmers Market during the fourth quarter valued at about $1,378,000. Point72 Asset Management L.P. lifted its position in Sprouts Farmers Market by 411.4% during 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 acquiring an additional 1,237,610 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its stake in Sprouts Farmers Market by 10.0% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 158,767 shares of the company’s stock valued at $7,638,000 after acquiring an additional 14,401 shares in the last quarter. Qsemble Capital Management LP purchased a new position in Sprouts Farmers Market in the fourth quarter worth $909,000. Finally, International Assets Investment Management LLC increased its position in shares of Sprouts Farmers Market by 2,152.8% during the fourth quarter. International Assets Investment Management LLC now owns 65,670 shares of the company’s stock worth $3,159,000 after purchasing an additional 62,755 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.