Sprouts Farmers Market (NASDAQ:SFM) Sets New 12-Month High – Here’s Why

Sprouts Farmers Market, Inc. (NASDAQ:SFM)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $149.36 and last traded at $148.26, with a volume of 46132 shares changing hands. The stock had previously closed at $147.13.

Wall Street Analysts Forecast Growth

SFM has been the topic of a number of recent analyst reports. Evercore ISI upped their target price on shares of Sprouts Farmers Market from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group boosted their price objective on shares of Sprouts Farmers Market from $127.00 to $159.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Melius Research initiated coverage on shares of Sprouts Farmers Market in a research report on Monday, September 23rd. They set a “hold” rating and a $105.00 price objective for the company. Bank of America boosted their price objective on shares of Sprouts Farmers Market from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets boosted their price objective on shares of Sprouts Farmers Market from $102.00 to $140.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $115.40.

Sprouts Farmers Market Trading Up 1.6 %

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 market cap of $14.94 billion, a P/E ratio of 42.52, a PEG ratio of 2.22 and a beta of 0.54. The firm’s 50-day simple moving average is $122.58 and its 200 day simple moving average is $99.58.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.14. Sprouts Farmers Market had a net margin of 4.73% and a return on equity of 28.24%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter last year, the business earned $0.65 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. As a group, equities research analysts anticipate that Sprouts Farmers Market, Inc. will post 3.68 earnings per share for the current year.

Insider Activity at Sprouts Farmers Market

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction on Monday, November 4th. The shares were sold at an average price of $132.60, for a total transaction of $757,676.40. Following the completion of the sale, the chief executive officer now owns 199,576 shares of the company’s stock, valued at $26,463,777.60. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Scott Neal sold 6,535 shares of Sprouts Farmers Market stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $102.29, for a total transaction of $668,465.15. Following the sale, the insider now directly owns 14,293 shares of the company’s stock, valued at $1,462,030.97. This trade represents a 31.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,148 shares of company stock worth $5,653,826 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Sprouts Farmers Market in the 3rd quarter worth $155,000. Sfmg LLC bought a new position in Sprouts Farmers Market in the 3rd quarter worth $234,000. World Investment Advisors LLC bought a new position in Sprouts Farmers Market in the 3rd quarter worth $13,348,000. Sanctuary Advisors LLC raised its holdings in Sprouts Farmers Market by 9.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,578 shares of the company’s stock worth $1,720,000 after acquiring an additional 1,402 shares during the period. Finally, Rule One Partners LLC bought a new position in Sprouts Farmers Market in the 3rd quarter worth $14,022,000.

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.