Sprouts Farmers Market (NASDAQ:SFM) Price Target Cut to $61.00

Sprouts Farmers Market (NASDAQ:SFM) had its price objective trimmed by Evercore ISI from $62.00 to $61.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the company a buy rating in a research note on Tuesday, March 5th. Bank of America upgraded shares of Sprouts Farmers Market from an underperform rating to a buy rating and increased their price objective for the company from $30.00 to $70.00 in a research note on Tuesday, February 27th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $51.14.

Sprouts Farmers Market Price Performance

Shares of SFM stock opened at $65.15 on Tuesday. The company has a market capitalization of $6.59 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 2.28 and a beta of 0.50. The firm has a fifty day simple moving average of $61.13 and a 200-day simple moving average of $51.17. The company has a current ratio of 1.10, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. Sprouts Farmers Market has a twelve month low of $32.12 and a twelve month high of $65.53.

Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.04. The business had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.69 billion. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. Equities research analysts anticipate that Sprouts Farmers Market will post 2.95 earnings per share for the current fiscal year.

Insider Transactions at Sprouts Farmers Market

In other news, COO Nicholas Konat sold 31,846 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $62.13, for a total value of $1,978,591.98. Following the transaction, the chief operating officer now directly owns 82,495 shares in the company, valued at approximately $5,125,414.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Nicholas Konat sold 31,846 shares of the firm’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $62.13, for a total value of $1,978,591.98. Following the transaction, the chief operating officer now directly owns 82,495 shares in the company, valued at approximately $5,125,414.35. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Timmi Zalatoris sold 5,353 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $61.62, for a total transaction 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. In the last three months, insiders have sold 160,852 shares of company stock worth $10,032,745. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Sprouts Farmers Market

Large investors have recently modified their holdings of the company. Boston Trust Walden Corp increased its holdings in shares of Sprouts Farmers Market by 1.2% in the 4th quarter. Boston Trust Walden Corp now owns 1,477,341 shares of the company’s stock worth $71,075,000 after acquiring an additional 17,565 shares during the period. Klein Pavlis & Peasley Financial Inc. acquired a new position in Sprouts Farmers Market during the 4th quarter valued at about $1,337,000. PFG Investments LLC acquired a new position in Sprouts Farmers Market during the 4th quarter valued at about $208,000. Teachers Retirement System of The State of Kentucky increased its stake in Sprouts Farmers Market by 89.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 36,005 shares of the company’s stock valued at $1,541,000 after buying an additional 17,012 shares during the period. Finally, Reinhart Partners LLC. increased its stake in Sprouts Farmers Market by 90.2% during the 4th quarter. Reinhart Partners LLC. now owns 741,211 shares of the company’s stock valued at $35,660,000 after buying an additional 351,446 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.