Bank of America Boosts Sprouts Farmers Market (NASDAQ:SFM) Price Target to $135.00

Sprouts Farmers Market (NASDAQ:SFM) had its price target upped by stock analysts at Bank of America from $115.00 to $135.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price objective suggests a potential upside of 13.10% from the stock’s previous close.

A number of other analysts have also commented on SFM. Melius Research started coverage on Sprouts Farmers Market in a report on Monday, September 23rd. They issued a “hold” rating and a $105.00 target price for the company. Wells Fargo & Company raised shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $62.00 to $90.00 in a report on Tuesday, July 30th. UBS Group boosted their price objective on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Royal Bank of Canada started coverage on shares of Sprouts Farmers Market in a report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 target price on the stock. Finally, BMO Capital Markets upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $40.00 to $102.00 in a research note on Tuesday, July 30th. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Sprouts Farmers Market currently has an average rating of “Hold” and an average price target of $104.40.

Sprouts Farmers Market Stock Up 0.5 %

Shares of SFM traded up $0.58 during mid-day trading on Friday, reaching $119.36. The company had a trading volume of 467,068 shares, compared to its average volume of 1,306,924. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 1.03. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 37.42, a price-to-earnings-growth ratio of 3.36 and a beta of 0.56. The firm has a 50-day moving average price of $107.23 and a 200 day moving average price of $88.86. Sprouts Farmers Market has a 52 week low of $39.76 and a 52 week high of $120.69.

Sprouts Farmers Market (NASDAQ:SFM) last released its quarterly earnings data on Monday, July 29th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.16. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the business earned $0.71 EPS. Sprouts Farmers Market’s revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts forecast that Sprouts Farmers Market will post 3.37 EPS for the current year.

Insider Transactions at Sprouts Farmers Market

In other Sprouts Farmers Market news, 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 of the company’s stock, valued at approximately $1,089,500. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Sprouts Farmers Market news, Director Joe Fortunato sold 7,895 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $98.38, for a total value of $776,710.10. Following the completion of the sale, the director now owns 45,071 shares in the company, valued at approximately $4,434,084.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Timmi Zalatoris sold 56,800 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $100.00, for a total value of $5,680,000.00. Following the completion of the transaction, the insider now owns 10,895 shares in the company, valued at $1,089,500. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,142 shares of company stock worth $12,401,112 in the last three months. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Sprouts Farmers Market

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aviance Capital Partners LLC grew its holdings in Sprouts Farmers Market by 4.1% during the 1st quarter. Aviance Capital Partners LLC now owns 36,029 shares of the company’s stock valued at $2,323,000 after buying an additional 1,405 shares in the last quarter. AlphaMark Advisors LLC bought a new position in shares of Sprouts Farmers Market during the first quarter worth $412,000. Narus Financial Partners LLC purchased a new position in Sprouts Farmers Market during the first quarter valued at $231,000. State of Michigan Retirement System increased its holdings in Sprouts Farmers Market by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 24,896 shares of the company’s stock valued at $1,605,000 after acquiring an additional 500 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC purchased a new stake in Sprouts Farmers Market in the 1st quarter worth $500,000.

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.