Sprouts Farmers Market (NASDAQ:SFM) Price Target Raised to $176.00

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 target price raised by investment analysts at Royal Bank Of Canada from $173.00 to $176.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective suggests a potential upside of 10.09% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Barclays upgraded shares of Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $173.00 to $185.00 in a report on Thursday. Wall Street Zen upgraded shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. Roth Capital set a $155.00 price objective on shares of Sprouts Farmers Market and gave the stock a "neutral" rating in a report on Thursday, May 1st. UBS Group decreased their price objective on shares of Sprouts Farmers Market from $196.00 to $182.00 and set a "neutral" rating for the company in a report on Tuesday, July 29th. Finally, Evercore ISI upped their price objective on shares of Sprouts Farmers Market from $180.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $171.53.

Sprouts Farmers Market Stock Performance

NASDAQ:SFM traded up $5.79 during midday trading on Thursday, reaching $159.87. 252,960 shares of the stock traded hands, compared to its average volume of 1,738,958. The company has a fifty day moving average of $163.73 and a 200 day moving average of $158.57. Sprouts Farmers Market has a 12 month low of $91.36 and a 12 month high of $182.00. The stock has a market capitalization of $15.62 billion, a P/E ratio of 32.87, a PEG ratio of 1.74 and a beta of 0.78.

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

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, insider Timmi Zalatoris sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $164.38, for a total transaction of $328,760.00. Following the completion of the sale, the insider directly owned 13,263 shares of the company's stock, valued at $2,180,171.94. This trade represents a 13.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jack Sinclair sold 4,045 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $162.94, for a total transaction of $659,092.30. Following the sale, the chief executive officer directly owned 174,740 shares of the company's stock, valued at approximately $28,472,135.60. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,743 shares of company stock worth $10,769,633. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SFM. Unified Investment Management boosted its stake in Sprouts Farmers Market by 0.9% during the second quarter. Unified Investment Management now owns 7,326 shares of the company's stock worth $1,206,000 after buying an additional 65 shares during the period. Chicago Partners Investment Group LLC raised its holdings in Sprouts Farmers Market by 0.6% in the second quarter. Chicago Partners Investment Group LLC now owns 10,355 shares of the company's stock worth $1,691,000 after purchasing an additional 65 shares in the last quarter. Rossby Financial LCC grew its stake in shares of Sprouts Farmers Market by 2.3% during the second quarter. Rossby Financial LCC now owns 3,059 shares of the company's stock worth $504,000 after acquiring an additional 68 shares during the last quarter. Bessemer Group Inc. grew its stake in shares of Sprouts Farmers Market by 2.2% during the second quarter. Bessemer Group Inc. now owns 3,335 shares of the company's stock worth $549,000 after acquiring an additional 73 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Sprouts Farmers Market by 2.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,307 shares of the company's stock valued at $544,000 after buying an additional 75 shares during the last quarter.

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.