Sprouts Farmers Market (NASDAQ:SFM) Price Target Raised to $176.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has raised its price target for Sprouts Farmers Market from $173.00 to $176.00, indicating a potential upside of 15.86% from the current stock price.
• Recent reports from various analysts show mixed ratings and price targets, with UBS lowering its target to $182.00 while Barclays upgraded it to $185.00.
• Sprouts Farmers Market reported a 17.3% increase in quarterly revenue year-over-year, with earnings per share surpassing analysts' expectations at $1.35.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) had its price target lifted by investment analysts at Royal Bank Of Canada from $173.00 to $176.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 15.86% from the company's current price.

A number of other equities analysts have also recently issued reports on SFM. UBS Group dropped their price objective on Sprouts Farmers Market from $196.00 to $182.00 and set a "neutral" rating for the company in a report on Tuesday. Wells Fargo & Company boosted their price objective on Sprouts Farmers Market from $170.00 to $175.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Roth Capital set a $155.00 price objective on Sprouts Farmers Market and gave the company a "neutral" rating in a report on Thursday, May 1st. Barclays upgraded Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and set a $185.00 price objective for the company in a report on Thursday. Finally, Evercore ISI boosted their price objective on Sprouts Farmers Market from $180.00 to $185.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $168.27.

Sprouts Farmers Market Price Performance

NASDAQ:SFM traded down $6.15 during trading hours on Thursday, reaching $151.91. The stock had a trading volume of 2,857,330 shares, compared to its average volume of 1,733,764. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.51 and a current ratio of 0.95. Sprouts Farmers Market has a 52 week low of $91.36 and a 52 week high of $182.00. The company has a 50 day moving average price of $164.25 and a two-hundred day moving average price of $158.12. The stock has a market capitalization of $14.87 billion, a PE ratio of 34.03, a PEG ratio of 1.96 and a beta of 0.77.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.12. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.16 billion. Sprouts Farmers Market had a return on equity of 34.20% and a net margin of 5.53%. The company's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 EPS. As a group, sell-side analysts anticipate that Sprouts Farmers Market will post 4.29 earnings per share for the current fiscal year.

Insider Transactions at Sprouts Farmers Market

In other news, insider John Scott Neal sold 17,721 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $160.89, for a total value of $2,851,131.69. Following the completion of the transaction, the insider directly owned 14,178 shares of the company's stock, valued at approximately $2,281,098.42. The trade was a 55.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Nicholas Konat sold 20,270 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $167.50, for a total value of $3,395,225.00. Following the transaction, the chief operating officer directly owned 55,675 shares in the company, valued at $9,325,562.50. This represents a 26.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,035 shares of company stock worth $12,213,719. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC increased its holdings in shares of Sprouts Farmers Market by 92.0% in the first quarter. Whipplewood Advisors LLC now owns 192 shares of the company's stock valued at $29,000 after purchasing an additional 92 shares during the period. Dogwood Wealth Management LLC acquired a new position in shares of Sprouts Farmers Market in the first quarter valued at about $30,000. GeoWealth Management LLC increased its holdings in shares of Sprouts Farmers Market by 115.4% in the fourth quarter. GeoWealth Management LLC now owns 265 shares of the company's stock valued at $34,000 after purchasing an additional 142 shares during the period. Truvestments Capital LLC acquired a new position in shares of Sprouts Farmers Market in the first quarter valued at about $35,000. Finally, SVB Wealth LLC acquired a new position in shares of Sprouts Farmers Market in the first quarter valued at about $36,000.

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.

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