Sprouts Farmers Market (NASDAQ:SFM) Sets New 12-Month High on Analyst Upgrade

Sprouts Farmers Market, Inc. (NASDAQ:SFM) shares reached a new 52-week high on Wednesday after Bank of America raised their price target on the stock from $165.00 to $185.00. Bank of America currently has a buy rating on the stock. Sprouts Farmers Market traded as high as $170.92 and last traded at $170.60, with a volume of 416085 shares traded. The stock had previously closed at $166.13.

Several other brokerages have also recently weighed in on SFM. The Goldman Sachs Group raised their price target on shares of Sprouts Farmers Market from $127.00 to $159.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. BMO Capital Markets raised their target price on shares of Sprouts Farmers Market from $102.00 to $140.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating in a research note on Wednesday, January 15th. Wells Fargo & Company raised their target price on shares of Sprouts Farmers Market from $130.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, January 30th. Finally, Evercore ISI raised their target price on shares of Sprouts Farmers Market from $155.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $124.40.

Insider Transactions at Sprouts Farmers Market

In other Sprouts Farmers Market news, Director Joseph D. O’leary sold 350 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $150.11, for a total value of $52,538.50. Following the transaction, the director now directly owns 17,991 shares of the company’s stock, valued at approximately $2,700,629.01. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas Gregory Rauch sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $148.89, for a total value of $104,223.00. Following the transaction, the director now directly owns 10,874 shares in the company, valued at $1,619,029.86. The trade was a 6.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,614 shares of company stock worth $6,323,731. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Intrust Bank NA grew its stake in shares of Sprouts Farmers Market by 15.9% during the 4th quarter. Intrust Bank NA now owns 3,751 shares of the company’s stock worth $477,000 after acquiring an additional 514 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Sprouts Farmers Market by 5.6% during the 4th quarter. Orion Portfolio Solutions LLC now owns 18,677 shares of the company’s stock valued at $2,373,000 after buying an additional 987 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Sprouts Farmers Market by 48.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 477,665 shares of the company’s stock valued at $60,697,000 after buying an additional 156,021 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Sprouts Farmers Market during the 4th quarter valued at about $1,162,000. Finally, Norges Bank purchased a new position in shares of Sprouts Farmers Market during the 4th quarter valued at about $143,113,000.

Sprouts Farmers Market Trading Up 2.5 %

The company has a market capitalization of $17.02 billion, a PE ratio of 49.27, a PEG ratio of 2.25 and a beta of 0.63. The company has a current ratio of 1.13, a quick ratio of 0.59 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $144.76 and a two-hundred day moving average of $125.89.

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.