Sprouts Farmers Market (NASDAQ:SFM) Given New $185.00 Price Target at Bank of America

Sprouts Farmers Market (NASDAQ:SFM - Free Report) had its target price raised by Bank of America from $165.00 to $185.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. The Goldman Sachs Group increased their price target on shares of Sprouts Farmers Market from $127.00 to $159.00 and gave the stock a "buy" rating in a report on Friday, November 1st. BMO Capital Markets increased 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 report on Thursday, October 31st. Evercore ISI increased their price objective on shares of Sprouts Farmers Market from $155.00 to $160.00 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. StockNews.com raised shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a report on Wednesday, January 15th. Finally, Wells Fargo & Company increased their price objective on shares of Sprouts Farmers Market from $130.00 to $140.00 and gave the company an "equal weight" rating in a report on Thursday, January 30th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $124.40.

Sprouts Farmers Market Stock Performance

NASDAQ SFM traded up $0.84 during mid-day trading on Tuesday, reaching $177.21. 555,659 shares of the stock were exchanged, compared to its average volume of 1,250,574. The business's 50 day moving average is $145.58 and its 200-day moving average is $126.55. Sprouts Farmers Market has a 1 year low of $52.04 and a 1 year high of $178.46. The company has a market capitalization of $17.72 billion, a P/E ratio of 51.11, a P/E/G ratio of 2.25 and a beta of 0.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.59 and a current ratio of 1.13.

Insider Transactions at Sprouts Farmers Market

In related news, Director Joseph D. O'leary sold 350 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $150.11, for a total transaction of $52,538.50. Following the completion of the sale, the director now directly owns 17,991 shares in the company, valued at approximately $2,700,629.01. This trade represents a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jack Sinclair sold 2,915 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $167.54, for a total transaction of $488,379.10. Following the sale, the chief executive officer now owns 143,669 shares of the company's stock, valued at approximately $24,070,304.26. The trade was a 1.99 % 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 valued at $6,323,731. Corporate insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Sprouts Farmers Market

Several hedge funds and other institutional investors have recently bought and sold shares of SFM. Norges Bank acquired a new stake in Sprouts Farmers Market during the fourth quarter worth about $143,113,000. Congress Asset Management Co. increased its position in shares of Sprouts Farmers Market by 94.9% during the fourth quarter. Congress Asset Management Co. now owns 1,298,768 shares of the company's stock valued at $165,034,000 after acquiring an additional 632,523 shares during the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of Sprouts Farmers Market during the fourth quarter valued at about $64,117,000. Assenagon Asset Management S.A. increased its position in shares of Sprouts Farmers Market by 2,577.7% during the third quarter. Assenagon Asset Management S.A. now owns 452,672 shares of the company's stock valued at $49,980,000 after acquiring an additional 435,767 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Sprouts Farmers Market by 22.9% during the fourth quarter. Invesco Ltd. now owns 1,582,896 shares of the company's stock valued at $201,139,000 after acquiring an additional 294,553 shares during the last quarter.

Sprouts Farmers Market Company Profile

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.