Sprouts Farmers Market (NASDAQ:SFM) Rating Increased to Equal Weight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Sprouts Farmers Market (NASDAQ:SFM) from an underweight rating to an equal weight rating in a research note released on Tuesday morning, MarketBeat reports. They currently have $90.00 target price on the stock, up from their previous target price of $62.00.

Several other analysts have also weighed in on the stock. Oppenheimer reiterated a market perform rating on shares of Sprouts Farmers Market in a research note on Monday, April 29th. Evercore ISI lifted their price objective on shares of Sprouts Farmers Market from $77.00 to $80.00 and gave the company an in-line rating in a research note on Tuesday, July 16th. UBS Group lifted their price objective on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the company a neutral rating in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the company a hold rating in a research note on Monday, July 29th. Finally, BMO Capital Markets boosted their price target on shares of Sprouts Farmers Market from $31.00 to $40.00 and gave the company an underperform rating in a research note on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $93.38.

Sprouts Farmers Market Stock Down 3.1 %

Shares of NASDAQ SFM opened at $97.67 on Tuesday. The company has a market capitalization of $9.78 billion, a P/E ratio of 33.68, a price-to-earnings-growth ratio of 2.84 and a beta of 0.55. Sprouts Farmers Market has a 52-week low of $37.10 and a 52-week high of $103.80. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.65 and a current ratio of 1.03. The company’s 50 day moving average price is $81.83 and its 200-day moving average price is $68.85.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.16. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.71 EPS. Equities analysts forecast that Sprouts Farmers Market will post 3.38 earnings per share for the current year.

Insider Transactions at Sprouts Farmers Market

In related news, VP Stacy W. Hilgendorf sold 1,904 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $101.12, for a total value of $192,532.48. Following the transaction, the vice president now directly owns 10,237 shares of the company’s stock, valued at approximately $1,035,165.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Stacy W. Hilgendorf sold 1,904 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $101.12, for a total value of $192,532.48. Following the transaction, the vice president now directly owns 10,237 shares of the company’s stock, valued at approximately $1,035,165.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brandon F. Lombardi sold 5,174 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $74.97, for a total transaction of $387,894.78. Following the completion of the transaction, the insider now directly owns 6,052 shares in the company, valued at $453,718.44. The disclosure for this sale can be found here. Insiders sold a total of 132,746 shares of company stock worth $11,648,541 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sprouts Farmers Market

Several institutional investors have recently added to or reduced their stakes in SFM. Point72 Asset Management L.P. lifted its holdings 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 purchasing an additional 1,237,610 shares during the last quarter. Hennessy Advisors Inc. purchased a new stake in Sprouts Farmers Market during the fourth quarter valued at about $23,992,000. Goldman Sachs Group Inc. lifted its holdings in Sprouts Farmers Market by 36.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,478,588 shares of the company’s stock valued at $71,135,000 after purchasing an additional 398,901 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Sprouts Farmers Market by 9.8% during the first quarter. Nordea Investment Management AB now owns 3,336,707 shares of the company’s stock valued at $216,419,000 after purchasing an additional 297,067 shares during the last quarter. Finally, Invenomic Capital Management LP purchased a new stake in Sprouts Farmers Market during the fourth quarter valued at about $13,840,000.

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.