Sprouts Farmers Market (NASDAQ:SFM) Price Target Cut to $61.00 by Analysts at Evercore ISI

Sprouts Farmers Market (NASDAQ:SFM) had its price target reduced by Evercore ISI from $62.00 to $61.00 in a report published on Tuesday, Benzinga reports. They currently have an in-line rating on the stock.

A number of other research firms also recently weighed in on SFM. The Goldman Sachs Group boosted their target price on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a buy rating in a report on Tuesday, March 5th. Bank of America upgraded 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 report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Sprouts Farmers Market presently has a consensus rating of Hold and a consensus price target of $51.14.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ SFM opened at $63.10 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 1.10. The company has a market cap of $6.39 billion, a P/E ratio of 25.14, a P/E/G ratio of 2.27 and a beta of 0.50. The firm’s fifty day moving average is $60.86 and its two-hundred day moving average is $51.01. Sprouts Farmers Market has a 52-week low of $32.12 and a 52-week high of $65.53.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The company had revenue of $1.70 billion for 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%. Sprouts Farmers Market’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 EPS. As a group, analysts anticipate that Sprouts Farmers Market will post 2.95 EPS for the current fiscal year.

Insider Activity at Sprouts Farmers Market

In related news, insider Brandon F. Lombardi sold 22,799 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $59.98, for a total transaction of $1,367,484.02. Following the transaction, the insider now directly owns 8,328 shares in the company, valued at approximately $499,513.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Sprouts Farmers Market news, insider Timmi Zalatoris sold 5,353 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $61.62, for a total value of $329,851.86. Following the completion of the sale, the insider now directly owns 10,895 shares of the company’s stock, valued at approximately $671,349.90. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brandon F. Lombardi sold 22,799 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $59.98, for a total transaction of $1,367,484.02. Following the completion of the sale, the insider now directly owns 8,328 shares of the company’s stock, valued at $499,513.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 160,852 shares of company stock worth $10,032,745. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. lifted its position in shares of Sprouts Farmers Market by 17.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 22,592 shares of the company’s stock worth $722,000 after purchasing an additional 3,389 shares during the period. Natixis Advisors L.P. purchased a new stake in shares of Sprouts Farmers Market in the 1st quarter worth approximately $387,000. Rhumbline Advisers lifted its position in shares of Sprouts Farmers Market by 1.6% in the 1st quarter. Rhumbline Advisers now owns 336,039 shares of the company’s stock worth $10,747,000 after purchasing an additional 5,334 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Sprouts Farmers Market by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,142 shares of the company’s stock worth $1,316,000 after purchasing an additional 3,923 shares during the period. Finally, Great West Life Assurance Co. Can lifted its position in shares of Sprouts Farmers Market by 26.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 78,169 shares of the company’s stock worth $2,588,000 after purchasing an additional 16,200 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.