Sprouts Farmers Market (NASDAQ:SFM) Upgraded by Wall Street Zen to “Buy” Rating

Sprouts Farmers Market (NASDAQ:SFM) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also commented on the company. Evercore decreased their price objective on Sprouts Farmers Market from $175.00 to $130.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. JPMorgan Chase & Co. decreased their price target on shares of Sprouts Farmers Market from $124.00 to $91.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Zacks Research raised shares of Sprouts Farmers Market from a “strong sell” rating to a “hold” rating in a research report on Monday, January 12th. Bank of America cut their price objective on shares of Sprouts Farmers Market from $200.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sprouts Farmers Market in a report on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.69.

Sprouts Farmers Market Price Performance

Sprouts Farmers Market stock opened at $67.32 on Friday. The company has a market capitalization of $6.55 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 0.66 and a beta of 0.75. The company has a current ratio of 1.05, a quick ratio of 0.53 and a debt-to-equity ratio of 0.04. Sprouts Farmers Market has a 12 month low of $66.17 and a 12 month high of $182.00. The stock’s 50 day moving average is $77.63 and its 200-day moving average is $104.73.

Insider Activity

In related news, insider John Scott Neal sold 17,471 shares of Sprouts Farmers Market stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $85.20, for a total value of $1,488,529.20. Following the transaction, the insider directly owned 14,178 shares of the company’s stock, valued at $1,207,965.60. This trade represents a 55.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Alisa Gmelich sold 3,161 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $79.39, for a total transaction of $250,951.79. Following the transaction, the chief marketing officer owned 5,552 shares of the company’s stock, valued at approximately $440,773.28. This represents a 36.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sprouts Farmers Market

A number of institutional investors have recently modified their holdings of the business. Spirepoint Private Client LLC bought a new position in Sprouts Farmers Market in the third quarter valued at about $4,310,000. NewSquare Capital LLC grew its holdings in shares of Sprouts Farmers Market by 83,859.0% during the 2nd quarter. NewSquare Capital LLC now owns 32,744 shares of the company’s stock valued at $5,391,000 after purchasing an additional 32,705 shares during the last quarter. Barlow Wealth Partners Inc. acquired a new position in Sprouts Farmers Market during the 3rd quarter worth approximately $16,724,000. Federated Hermes Inc. lifted its stake in Sprouts Farmers Market by 89.8% in the 3rd quarter. Federated Hermes Inc. now owns 928,668 shares of the company’s stock valued at $101,039,000 after purchasing an additional 439,425 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Sprouts Farmers Market by 115.4% in the third quarter. State of Alaska Department of Revenue now owns 36,486 shares of the company’s stock valued at $3,968,000 after buying an additional 19,549 shares in the last quarter.

Sprouts Farmers Market Company Profile

Sprouts Farmers Market, Inc (NASDAQ: SFM) is a specialty grocery retailer focused on fresh, natural and organic foods. Headquartered in Phoenix, Arizona, the company operates stores designed to offer an open-market shopping experience, emphasizing quality produce sourced from regional farmers alongside organic pantry staples, dairy, meat and seafood. Sprouts’ product assortment also includes bulk foods, vitamins and supplements, a deli and prepared foods, reflecting its commitment to wellness and affordable healthy living.

Founded in 2002 by members of the Boney family, Sprouts began as a single farmers market in Chandler, Arizona.