Credit Suisse Group assumed coverage on shares of Sprouts Farmers Market (NASDAQ:SFM) in a report released on Tuesday, Marketbeat reports. The brokerage issued a neutral rating and a $26.00 target price on the stock.
Other equities analysts have also recently issued reports about the company. Susquehanna Bancshares set a $30.00 price objective on Sprouts Farmers Market and gave the stock a buy rating in a report on Thursday, January 11th. Oppenheimer lifted their price objective on Sprouts Farmers Market from $28.00 to $31.00 and gave the stock an outperform rating in a report on Tuesday, February 6th. Royal Bank of Canada reissued a buy rating and issued a $32.00 price target on shares of Sprouts Farmers Market in a report on Friday, February 2nd. Gordon Haskett raised Sprouts Farmers Market from an accumulate rating to a buy rating and set a $27.00 price target for the company in a report on Wednesday, January 31st. Finally, BMO Capital Markets reissued a hold rating and issued a $32.00 price target on shares of Sprouts Farmers Market in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Sprouts Farmers Market presently has an average rating of Buy and an average target price of $27.05.
Shares of SFM stock opened at $24.44 on Tuesday. The firm has a market cap of $3,269.71, a P/E ratio of 24.34, a PEG ratio of 1.50 and a beta of 0.89. Sprouts Farmers Market has a 1 year low of $17.55 and a 1 year high of $28.29. The company has a quick ratio of 0.23, a current ratio of 1.00 and a debt-to-equity ratio of 0.73.
Sprouts Farmers Market announced that its Board of Directors has approved a share buyback plan on Thursday, February 22nd that allows the company to repurchase $350.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, CMO Shawn R. Gensch sold 997 shares of Sprouts Farmers Market stock in a transaction on Monday, March 5th. The stock was sold at an average price of $25.24, for a total value of $25,164.28. Following the completion of the sale, the chief marketing officer now owns 26,423 shares of the company’s stock, valued at $666,916.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Amin N. Maredia sold 39,559 shares of Sprouts Farmers Market stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $23.13, for a total value of $914,999.67. Following the completion of the sale, the chief executive officer now directly owns 332,759 shares of the company’s stock, valued at approximately $7,696,715.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 858,021 shares of company stock valued at $23,347,835. Company insiders own 1.80% of the company’s stock.
Large investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in Sprouts Farmers Market by 1.5% during the fourth quarter. BlackRock Inc. now owns 10,656,767 shares of the company’s stock valued at $259,493,000 after acquiring an additional 162,367 shares during the period. Old Mutual Global Investors UK Ltd. grew its position in Sprouts Farmers Market by 60.2% during the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 3,457,233 shares of the company’s stock valued at $84,183,000 after acquiring an additional 1,299,240 shares during the period. Dimensional Fund Advisors LP grew its position in Sprouts Farmers Market by 49.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,009,401 shares of the company’s stock valued at $37,717,000 after acquiring an additional 665,598 shares during the period. Millennium Management LLC grew its position in Sprouts Farmers Market by 103.3% during the fourth quarter. Millennium Management LLC now owns 1,439,420 shares of the company’s stock valued at $35,050,000 after acquiring an additional 731,398 shares during the period. Finally, Clearbridge LLC grew its position in Sprouts Farmers Market by 19.9% during the fourth quarter. Clearbridge LLC now owns 1,216,297 shares of the company’s stock valued at $29,617,000 after acquiring an additional 201,900 shares during the period. 92.54% of the stock is owned by institutional investors and hedge funds.
Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.
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