Sprouts Farmers Market (NASDAQ:SFM) Hits New 52-Week High at $107.13

Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) hit a new 52-week high during trading on Monday . The company traded as high as $107.13 and last traded at $107.13, with a volume of 133092 shares. The stock had previously closed at $102.10.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. BMO Capital Markets upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $40.00 to $102.00 in a report on Tuesday, July 30th. Royal Bank of Canada started coverage on shares of Sprouts Farmers Market in a research report on Thursday, September 12th. They set a “sector perform” rating and a $107.00 price target on the stock. UBS Group raised their price objective on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Bank of America upped their target price on Sprouts Farmers Market from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. Finally, Wells Fargo & Company raised Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $62.00 to $90.00 in a research report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $99.22.

Sprouts Farmers Market Price Performance

The firm has a 50-day simple moving average of $94.33 and a 200-day simple moving average of $79.53. The firm has a market capitalization of $10.73 billion, a PE ratio of 36.84, a PEG ratio of 2.89 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.03 and a quick ratio of 0.44.

Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.16. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 earnings per share. As a group, equities analysts forecast that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Dustin Hamilton sold 1,997 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $99.20, for a total value of $198,102.40. Following the transaction, the insider now directly owns 26,172 shares of the company’s stock, valued at approximately $2,596,262.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Dustin Hamilton sold 1,997 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $99.20, for a total transaction of $198,102.40. Following the sale, the insider now directly owns 26,172 shares of the company’s stock, valued at approximately $2,596,262.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Timmi Zalatoris sold 56,800 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $100.00, for a total transaction of $5,680,000.00. Following the completion of the sale, the insider now owns 10,895 shares in the company, valued at $1,089,500. The disclosure for this sale can be found here. Insiders sold a total of 128,939 shares of company stock worth $12,571,295 over the last three months. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprouts Farmers Market

A number of large investors have recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV boosted its holdings in Sprouts Farmers Market by 0.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 18,717 shares of the company’s stock valued at $1,566,000 after acquiring an additional 148 shares during the period. Ironwood Investment Counsel LLC grew its holdings in shares of Sprouts Farmers Market by 3.8% in the first quarter. Ironwood Investment Counsel LLC now owns 5,277 shares of the company’s stock worth $340,000 after purchasing an additional 195 shares during the last quarter. Parallel Advisors LLC increased its stake in Sprouts Farmers Market by 11.7% in 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 during the period. Nations Financial Group Inc. IA ADV lifted its holdings in Sprouts Farmers Market by 3.1% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 7,149 shares of the company’s stock valued at $344,000 after buying an additional 216 shares in the last quarter. Finally, Crewe Advisors LLC boosted its position in Sprouts Farmers Market by 223.5% in the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock valued at $27,000 after buying an additional 219 shares during the period.

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.