Sprouts Farmers Market (NASDAQ:SFM) Given New $62.00 Price Target at Wells Fargo & Company

Sprouts Farmers Market (NASDAQ:SFM) had its price target lifted by investment analysts at Wells Fargo & Company from $48.00 to $62.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential downside of 13.82% from the company’s previous close.

A number of other research analysts have also recently commented on the stock. The Goldman Sachs Group raised their price target 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. Oppenheimer restated a “market perform” rating on shares of Sprouts Farmers Market in a research report on Monday. Evercore ISI lowered their price target on Sprouts Farmers Market from $62.00 to $61.00 and set an “in-line” rating on the stock in a research report on Tuesday, April 16th. BMO Capital Markets lifted their price objective on Sprouts Farmers Market from $31.00 to $40.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Bank of America upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “buy” rating and boosted their target price for the company from $30.00 to $70.00 in a research note on Tuesday, February 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $53.50.

Sprouts Farmers Market Stock Performance

Shares of SFM traded up $7.65 on Thursday, reaching $71.94. 820,028 shares of the stock traded hands, compared to its average volume of 1,316,210. The firm has a market cap of $7.28 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 2.40 and a beta of 0.50. Sprouts Farmers Market has a 12 month low of $32.12 and a 12 month high of $73.78. The stock’s 50-day moving average price is $63.29 and its 200-day moving average price is $52.52. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.10 and a quick ratio of 0.51.

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 the consensus estimate of $0.45 by $0.04. The firm had revenue of $1.70 billion for 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%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Equities analysts forecast that Sprouts Farmers Market will post 2.95 EPS for the current fiscal year.

Insider Activity at Sprouts Farmers Market

In other news, CMO Alisa Gmelich sold 479 shares of the business’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 sale, the chief marketing officer now owns 2,987 shares in the company, valued at $186,597.89. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CMO Alisa Gmelich sold 479 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $62.47, for a total value of $29,923.13. Following the transaction, the chief marketing officer now owns 2,987 shares of the company’s stock, valued at approximately $186,597.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Nicholas Konat sold 31,846 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $62.13, for a total transaction of $1,978,591.98. Following the sale, the chief operating officer now directly owns 82,495 shares of the company’s stock, valued at $5,125,414.35. The disclosure for this sale can be found here. Insiders sold a total of 160,852 shares of company stock valued at $10,032,745 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Sprouts Farmers Market

A number of institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in shares of Sprouts Farmers Market in the 1st quarter valued at $26,000. Blue Bell Private Wealth Management LLC acquired a new stake in Sprouts Farmers Market during the 1st quarter worth $36,000. VisionPoint Advisory Group LLC bought a new position in Sprouts Farmers Market during the third quarter worth about $25,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in Sprouts Farmers Market in the fourth quarter valued at about $38,000. Finally, GAMMA Investing LLC bought a new stake in shares of Sprouts Farmers Market in the fourth quarter worth about $43,000.

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.