Sprouts Farmers Market (NASDAQ:SFM) Stock Price Up 9.1% – Here’s What Happened

Sprouts Farmers Market, Inc. (NASDAQ:SFM) shares rose 9.1% during mid-day trading on Monday. The stock traded as high as $54.09 and last traded at $54.2230. 3,411,445 shares changed hands during mid-day trading, an increase of 38% from the average session volume of 2,475,773 shares. The stock had previously closed at $49.70.

Analysts Set New Price Targets

SFM has been the subject of several analyst reports. Roth Capital set a $56.00 price target on shares of Sprouts Farmers Market in a research report on Thursday. UBS Group reissued a “neutral” rating and set a $74.00 target price on shares of Sprouts Farmers Market in a research report on Monday, October 26th. Bank of America lowered shares of Sprouts Farmers Market from a “buy” rating to an “underperform” rating and set a $47.00 price target on the stock. in a report on Thursday. Wells Fargo & Company lowered their target price on shares of Sprouts Farmers Market from $100.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group decreased their price target on shares of Sprouts Farmers Market from $94.00 to $58.00 and set a “buy” rating for the company in a report on Friday. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Sprouts Farmers Market has an average rating of “Hold” and an average target price of $64.92.

Sprouts Farmers Market Stock Performance

The company has a market cap of $5.09 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.41 and a beta of 0.67. The firm’s fifty day moving average is $69.68 and its 200 day moving average is $76.29. The company has a current ratio of 0.97, a quick ratio of 0.39 and a debt-to-equity ratio of 0.08.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Sprouts Farmers Market had a net margin of 5.45% and a return on equity of 33.83%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. As a group, research analysts predict that Sprouts Farmers Market, Inc. will post 4.95 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jack Sinclair sold 10,788 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $86.80, for a total value of $936,398.40. Following the transaction, the chief executive officer directly owned 269,980 shares of the company’s stock, valued at approximately $23,434,264. This trade represents a 3.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph O’Leary sold 2,597 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $82.57, for a total value of $214,434.29. Following the completion of the sale, the director owned 14,710 shares in the company, valued at $1,214,604.70. This represents a 15.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 46,041 shares of company stock valued at $3,460,383. Insiders own 1.30% of the company’s stock.

Institutional Trading of Sprouts Farmers Market

Several hedge funds have recently modified their holdings of SFM. Signet Financial Management LLC purchased a new position in Sprouts Farmers Market in the 1st quarter valued at $2,938,000. Bank of America Corp DE purchased a new position in Sprouts Farmers Market during the 2nd quarter worth $93,790,000. Reinhart Partners LLC. lifted its stake in shares of Sprouts Farmers Market by 33.1% in the 3rd quarter. Reinhart Partners LLC. now owns 82,839 shares of the company’s stock worth $5,496,000 after acquiring an additional 20,581 shares during the period. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Sprouts Farmers Market in the first quarter valued at about $3,738,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Sprouts Farmers Market during the second quarter worth about $131,310,000.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc (NASDAQ:SFM) is a specialty grocery retailer focused on fresh, natural and organic foods. Its stores offer a broad selection of fresh produce, meat and seafood, dairy products, bulk foods, vitamins and supplements, pantry staples, bakery items, deli products and prepared foods. The company emphasizes products that support healthy eating, including organic, plant-based and specialty-diet options.

Founded in 2002, Sprouts Farmers Market grew from its first store in Chandler, Arizona, into a national grocery chain.