Sprouts Farmers Market (NASDAQ:SFM) Given New $61.00 Price Target at Evercore ISI

Sprouts Farmers Market (NASDAQ:SFM) had its price objective dropped by stock analysts at Evercore ISI from $62.00 to $61.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price target would suggest a potential downside of 2.27% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Bank of America raised shares of 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 research report on Tuesday, February 27th. The Goldman Sachs Group upped their price objective on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.14.

Sprouts Farmers Market Stock Performance

Shares of SFM stock opened at $62.42 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.10 and a quick ratio of 0.51. The firm has a market cap of $6.32 billion, a P/E ratio of 24.87, a PEG ratio of 2.27 and a beta of 0.50. The stock’s 50-day moving average is $60.61 and its two-hundred day moving average is $50.92. Sprouts Farmers Market has a fifty-two week low of $32.12 and a fifty-two week high of $65.53.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) 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 analyst estimates of $1.69 billion. Sprouts Farmers Market had a net margin of 3.79% and a return on equity of 26.71%. Sprouts Farmers Market’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. Analysts predict 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, CMO Alisa Gmelich sold 479 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $62.47, for a total value of $29,923.13. Following the completion of the sale, the chief marketing officer now directly owns 2,987 shares of the company’s stock, valued at approximately $186,597.89. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Brandon F. Lombardi sold 3,865 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $62.21, for a total transaction of $240,441.65. Following the sale, the insider now directly owns 8,328 shares in the company, valued at $518,084.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Alisa Gmelich sold 479 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $62.47, for a total transaction of $29,923.13. Following the completion of the transaction, the chief marketing officer now directly owns 2,987 shares of the company’s stock, valued at $186,597.89. The disclosure for this sale can be found here. Insiders sold a total of 160,852 shares of company stock worth $10,032,745 in the last quarter. 1.10% of the stock is owned by company insiders.

Institutional Trading of Sprouts Farmers Market

A number of institutional investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its position in Sprouts Farmers Market by 11.7% during the 4th quarter. Parallel Advisors LLC now owns 1,987 shares of the company’s stock worth $96,000 after buying an additional 208 shares in the last quarter. Xponance Inc. lifted its position in shares of Sprouts Farmers Market by 1.4% in the fourth quarter. Xponance Inc. now owns 14,976 shares of the company’s stock valued at $720,000 after buying an additional 209 shares during the last quarter. Baldwin Brothers LLC MA lifted its stake in shares of Sprouts Farmers Market by 20.0% during the 4th quarter. Baldwin Brothers LLC MA now owns 1,260 shares of the company’s stock worth $61,000 after buying an additional 210 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its position in shares of 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 valued at $344,000 after purchasing an additional 216 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Sprouts Farmers Market by 4.5% in the 4th quarter. CreativeOne Wealth LLC now owns 5,137 shares of the company’s stock valued at $247,000 after buying an additional 220 shares in the last quarter.

Sprouts Farmers Market Company Profile

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.