Sprouts Farmers Market (NASDAQ:SFM) Upgraded by BidaskClub to Hold

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BidaskClub upgraded shares of Sprouts Farmers Market (NASDAQ:SFM) from a sell rating to a hold rating in a research report report published on Saturday morning, BidAskClub reports.

Several other brokerages have also issued reports on SFM. Bank of America boosted their price objective on Sprouts Farmers Market from $18.00 to $20.00 and gave the company an underperform rating in a research report on Wednesday, May 13th. Cfra boosted their price objective on Sprouts Farmers Market from $24.00 to $30.00 and gave the company a buy rating in a research report on Wednesday, May 6th. Gordon Haskett upgraded Sprouts Farmers Market from a hold rating to a buy rating in a research report on Monday, March 16th. BMO Capital Markets boosted their target price on Sprouts Farmers Market from $20.00 to $25.00 and gave the company a market perform rating in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. boosted their target price on Sprouts Farmers Market from $22.00 to $24.00 and gave the company a neutral rating in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $22.92.

Sprouts Farmers Market stock opened at $25.59 on Friday. The firm has a market capitalization of $3.02 billion, a P/E ratio of 16.30, a PEG ratio of 1.57 and a beta of 0.25. Sprouts Farmers Market has a 1 year low of $13.00 and a 1 year high of $26.83. The business has a 50-day moving average of $24.36 and a 200-day moving average of $19.75. The company has a current ratio of 0.97, a quick ratio of 0.51 and a debt-to-equity ratio of 2.29.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.25. Sprouts Farmers Market had a return on equity of 31.73% and a net margin of 3.15%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period in the previous year, the firm earned $0.46 EPS. Sprouts Farmers Market’s quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts anticipate that Sprouts Farmers Market will post 1.7 EPS for the current fiscal year.

In other news, Director Terri F. Graham sold 2,778 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $25.08, for a total transaction of $69,672.24. Following the sale, the director now owns 26,753 shares in the company, valued at approximately $670,965.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jack Sinclair sold 26,194 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $23.51, for a total value of $615,820.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,426 shares of company stock worth $1,514,456. Company insiders own 0.29% of the company’s stock.

Several hedge funds have recently bought and sold shares of SFM. Norges Bank acquired a new position in shares of Sprouts Farmers Market during the 4th quarter worth approximately $34,210,000. Wells Fargo & Company MN increased its holdings in shares of Sprouts Farmers Market by 418.5% during the 1st quarter. Wells Fargo & Company MN now owns 1,095,702 shares of the company’s stock worth $20,369,000 after acquiring an additional 884,400 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Sprouts Farmers Market by 214.6% during the 1st quarter. Deutsche Bank AG now owns 1,191,111 shares of the company’s stock worth $22,141,000 after acquiring an additional 812,461 shares during the last quarter. PGGM Investments increased its holdings in shares of Sprouts Farmers Market by 89.9% during the 1st quarter. PGGM Investments now owns 1,661,007 shares of the company’s stock worth $30,878,000 after acquiring an additional 786,372 shares during the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Sprouts Farmers Market during the 1st quarter worth approximately $13,345,000. 90.89% of the stock is currently owned by institutional investors and hedge funds.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, baked goods, dairy products, frozen foods, beer and wine, natural body care and household items.

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Analyst Recommendations for Sprouts Farmers Market (NASDAQ:SFM)

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