Sprouts Farmers Market (NASDAQ:SFM) Price Target Increased to $89.00 by Analysts at The Goldman Sachs Group

Sprouts Farmers Market (NASDAQ:SFM) had its price objective hoisted by The Goldman Sachs Group from $78.00 to $89.00 in a research note released on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research firms have also issued reports on SFM. BMO Capital Markets raised their target price 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. UBS Group raised their price target on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a neutral rating in a research report on Friday, June 28th. Wells Fargo & Company raised their price target on shares of Sprouts Farmers Market from $48.00 to $62.00 and gave the stock an underweight rating in a research report on Thursday, May 2nd. Evercore ISI raised their price target on shares of Sprouts Farmers Market from $75.00 to $77.00 and gave the stock an in-line rating in a research report on Tuesday, July 2nd. Finally, Oppenheimer restated a market perform rating on shares of Sprouts Farmers Market in a research report on Monday, April 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $66.50.

Sprouts Farmers Market Stock Performance

NASDAQ:SFM opened at $82.63 on Wednesday. Sprouts Farmers Market has a 1 year low of $36.21 and a 1 year high of $84.46. The firm’s fifty day simple moving average is $79.03 and its 200 day simple moving average is $65.26. The company has a current ratio of 1.19, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $8.30 billion, a PE ratio of 28.49, a PEG ratio of 3.16 and a beta of 0.55.

Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Wednesday, May 1st. The company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.12. Sprouts Farmers Market had a net margin of 4.25% and a return on equity of 26.77%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the business posted $0.98 EPS. Sprouts Farmers Market’s revenue was up 8.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Sprouts Farmers Market will post 3.12 EPS for the current year.

Insider Activity at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Brandon F. Lombardi sold 5,174 shares of the stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sprouts Farmers Market news, insider David Mcglinchey sold 12,219 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $74.01, for a total transaction of $904,328.19. Following the sale, the insider now directly owns 25,007 shares of the company’s stock, valued at $1,850,768.07. 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 firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $74.97, for a total transaction of $387,894.78. Following the sale, the insider now directly owns 6,052 shares of the company’s stock, valued at approximately $453,718.44. The disclosure for this sale can be found here. Insiders have sold a total of 66,147 shares of company stock valued at $4,999,299 in the last 90 days. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Sprouts Farmers Market

Several hedge funds have recently modified their holdings of SFM. Townsquare Capital LLC increased its holdings in shares of Sprouts Farmers Market by 36.6% during the third quarter. Townsquare Capital LLC now owns 26,029 shares of the company’s stock worth $1,114,000 after buying an additional 6,972 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Sprouts Farmers Market by 4.3% during the third quarter. Deutsche Bank AG now owns 741,761 shares of the company’s stock worth $31,747,000 after buying an additional 30,880 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Sprouts Farmers Market during the third quarter worth approximately $2,880,000. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Sprouts Farmers Market during the third quarter worth approximately $415,000. Finally, VisionPoint Advisory Group LLC acquired a new stake in shares of Sprouts Farmers Market during the third quarter worth approximately $25,000.

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.