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

Sprouts Farmers Market (NASDAQ:SFM) had its price objective trimmed by Evercore ISI from $62.00 to $61.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an in-line rating on the stock.

Several other brokerages have also recently weighed in on SFM. The Goldman Sachs Group increased their target price on Sprouts Farmers Market from $56.00 to $71.00 and gave the company a buy rating in a report on Tuesday, March 5th. Bank of America upgraded Sprouts Farmers Market from an underperform rating to a buy rating and increased their target price for the company 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 given a buy rating to the company’s stock. According to data from MarketBeat, Sprouts Farmers Market currently has a consensus rating of Hold and an average target price of $51.14.

Sprouts Farmers Market Price Performance

Shares of NASDAQ SFM opened at $62.29 on Tuesday. The firm has a market capitalization of $6.30 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.28 and a beta of 0.50. The company has a quick ratio of 0.51, a current ratio of 1.10 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $60.36 and its two-hundred day simple moving average is $50.84. Sprouts Farmers Market has a twelve month low of $32.12 and a twelve month high of $65.53.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 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 return on equity of 26.71% and a net margin of 3.79%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 EPS. As a group, equities analysts anticipate that Sprouts Farmers Market will post 2.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other Sprouts Farmers Market news, COO Nicholas Konat sold 31,846 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $62.13, for a total value of $1,978,591.98. Following the completion of the sale, the chief operating officer now owns 82,495 shares in the company, valued at approximately $5,125,414.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Sprouts Farmers Market news, COO Nicholas Konat sold 31,846 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $62.13, for a total value of $1,978,591.98. Following the completion of the sale, the chief operating officer now owns 82,495 shares in the company, valued at approximately $5,125,414.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jack Sinclair sold 31,710 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $63.03, for a total value of $1,998,681.30. Following the completion of the sale, the chief executive officer now owns 274,981 shares of the company’s stock, valued at approximately $17,332,052.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 160,852 shares of company stock worth $10,032,745. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Sprouts Farmers Market in the 1st quarter valued at approximately $26,000. VisionPoint Advisory Group LLC purchased a new position in shares of Sprouts Farmers Market in the 3rd quarter valued at approximately $25,000. West Tower Group LLC lifted its stake in shares of Sprouts Farmers Market by 314.5% in the 4th quarter. West Tower Group LLC now owns 630 shares of the company’s stock valued at $30,000 after purchasing an additional 478 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Sprouts Farmers Market in the 4th quarter valued at approximately $38,000. Finally, Ronald Blue Trust Inc. lifted its stake in shares of Sprouts Farmers Market by 80.3% in the 3rd quarter. Ronald Blue Trust Inc. now owns 831 shares of the company’s stock valued at $36,000 after purchasing an additional 370 shares during the period.

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.