Evercore ISI Cuts Sprouts Farmers Market (NASDAQ:SFM) Price Target to $190.00

Key Points

• Evercore ISI has lowered its price target for Sprouts Farmers Market from $195.00 to $190.00, while maintaining an "outperform" rating for the stock, indicating a potential upside of 27.74%.
• Multiple other research firms have raised their price targets for the company, with Barclays upgrading their rating and setting a new target of $185.00 and Wells Fargo setting theirs at $180.00.
• Sprouts Farmers Market reported $1.35 earnings per share for their latest quarter, outperforming estimates and demonstrating a 17.3% increase in revenue compared to the same period last year.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) had its price objective dropped by research analysts at Evercore ISI from $195.00 to $190.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's price target points to a potential upside of 27.74% from the company's previous close.

A number of other research firms have also recently weighed in on SFM. Royal Bank Of Canada raised their price target on Sprouts Farmers Market from $173.00 to $176.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Barclays upgraded Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $173.00 to $185.00 in a research note on Thursday, July 31st. Wells Fargo & Company upgraded Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $175.00 to $180.00 in a research note on Tuesday, August 5th. Wall Street Zen upgraded Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Finally, Roth Capital set a $155.00 price objective on Sprouts Farmers Market and gave the stock a "neutral" rating in a report on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $172.20.

Sprouts Farmers Market Trading Down 0.2%

Shares of NASDAQ SFM opened at $148.74 on Tuesday. The stock has a market cap of $14.54 billion, a P/E ratio of 30.61, a PEG ratio of 1.68 and a beta of 0.78. Sprouts Farmers Market has a 12-month low of $94.68 and a 12-month high of $182.00. The business's fifty day simple moving average is $161.44 and its 200-day simple moving average is $158.83.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.12. The business had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $2.16 billion. Sprouts Farmers Market had a return on equity of 36.53% and a net margin of 5.77%. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned $0.94 earnings per share. On average, equities analysts forecast that Sprouts Farmers Market will post 4.29 EPS for the current fiscal year.

Insider Transactions at Sprouts Farmers Market

In related news, CEO Jack Sinclair sold 4,045 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $156.76, for a total value of $634,094.20. Following the completion of the sale, the chief executive officer owned 174,740 shares in the company, valued at $27,392,242.40. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Nicholas Konat sold 20,270 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $167.50, for a total transaction of $3,395,225.00. Following the completion of the sale, the chief operating officer owned 55,675 shares of the company's stock, valued at approximately $9,325,562.50. The trade was a 26.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,225 shares of company stock valued at $10,950,283 over the last 90 days. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Hedge funds have recently added to or reduced their stakes in the company. Cumberland Partners Ltd acquired a new stake in shares of Sprouts Farmers Market during the 2nd quarter valued at approximately $576,000. Catalyst Funds Management Pty Ltd raised its position in shares of Sprouts Farmers Market by 171.4% during the 2nd quarter. Catalyst Funds Management Pty Ltd now owns 30,400 shares of the company's stock worth $5,005,000 after purchasing an additional 19,200 shares during the last quarter. Westfield Capital Management Co. LP raised its position in shares of Sprouts Farmers Market by 1.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 478,370 shares of the company's stock worth $78,759,000 after purchasing an additional 8,645 shares during the last quarter. Ensign Peak Advisors Inc raised its position in shares of Sprouts Farmers Market by 10.1% during the 2nd quarter. Ensign Peak Advisors Inc now owns 65,432 shares of the company's stock worth $10,773,000 after purchasing an additional 6,007 shares during the last quarter. Finally, Alteri Wealth LLC raised its position in shares of Sprouts Farmers Market by 1.0% during the 2nd quarter. Alteri Wealth LLC now owns 7,627 shares of the company's stock worth $1,256,000 after purchasing an additional 72 shares during the last quarter.

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.

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