Loop Capital set a $29.00 price target on Sprouts Farmers Market (NASDAQ:SFM) in a research note issued to investors on Monday, The Fly reports. The brokerage currently has a hold rating on the stock.
Several other research firms have also recently weighed in on SFM. Zacks Investment Research raised shares of Sprouts Farmers Market from a hold rating to a buy rating and set a $26.00 target price for the company in a research note on Monday, August 6th. Citigroup raised their target price on shares of Sprouts Farmers Market from $27.00 to $29.00 and gave the company a buy rating in a research note on Wednesday, August 8th. BMO Capital Markets reaffirmed a hold rating and set a $25.00 target price (up from $23.00) on shares of Sprouts Farmers Market in a research note on Friday, August 3rd. BidaskClub cut shares of Sprouts Farmers Market from a buy rating to a hold rating in a research note on Friday, September 21st. Finally, Oppenheimer lifted their price objective on shares of Sprouts Farmers Market from $25.00 to $31.00 and gave the stock an outperform rating in a research note on Friday, September 21st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the stock. Sprouts Farmers Market currently has an average rating of Hold and a consensus target price of $27.50.
SFM opened at $27.16 on Monday. The firm has a market cap of $3.34 billion, a P/E ratio of 20.97, a P/E/G ratio of 1.70 and a beta of 0.74. Sprouts Farmers Market has a fifty-two week low of $19.80 and a fifty-two week high of $29.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.15 and a quick ratio of 0.30.
Sprouts Farmers Market (NASDAQ:SFM) last posted its earnings results on Thursday, November 1st. The company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Sprouts Farmers Market had a net margin of 3.65% and a return on equity of 25.85%. Sprouts Farmers Market’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.23 earnings per share. As a group, research analysts predict that Sprouts Farmers Market will post 1.28 EPS for the current year.
In other news, COO Dan J. Sanders sold 19,929 shares of the firm’s stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $28.91, for a total value of $576,147.39. Following the completion of the sale, the chief operating officer now owns 610,846 shares in the company, valued at approximately $17,659,557.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joe Fortunato sold 1,000 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $27.52, for a total transaction of $27,520.00. Following the completion of the sale, the director now owns 21,707 shares of the company’s stock, valued at approximately $597,376.64. The disclosure for this sale can be found here. Insiders sold a total of 116,929 shares of company stock valued at $3,137,967 over the last three months. Corporate insiders own 1.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its holdings in Sprouts Farmers Market by 5,016.0% during the 2nd quarter. Voya Investment Management LLC now owns 2,412,642 shares of the company’s stock valued at $53,246,000 after buying an additional 2,365,483 shares in the last quarter. Laurion Capital Management LP bought a new stake in Sprouts Farmers Market during the 2nd quarter valued at about $38,674,000. Hennessy Advisors Inc. lifted its holdings in Sprouts Farmers Market by 707.4% during the 3rd quarter. Hennessy Advisors Inc. now owns 1,151,400 shares of the company’s stock valued at $31,560,000 after buying an additional 1,008,800 shares in the last quarter. Fort Washington Investment Advisors Inc. OH bought a new stake in Sprouts Farmers Market during the 2nd quarter valued at about $18,318,000. Finally, Waddell & Reed Financial Inc. lifted its holdings in Sprouts Farmers Market by 13.8% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 5,722,550 shares of the company’s stock valued at $126,296,000 after buying an additional 694,448 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.
About Sprouts Farmers Market
Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, meat and seafood, deli and baked goods, packaged groceries, vitamins and supplements, bulk foods, dairy and dairy alternatives, frozen foods, beer and wine, and natural body care and household items.
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