UBS Asset Management Americas Inc. Sells 518,692 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Posted by Defense World Staff on Mar 13th, 2023

UBS Asset Management Americas Inc. trimmed its stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Get Rating) by 21.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,883,728 shares of the company’s stock after selling 518,692 shares during the period. UBS Asset Management Americas Inc. owned 1.78% of Sprouts Farmers Market worth $52,273,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. ExodusPoint Capital Management LP bought a new position in shares of Sprouts Farmers Market in the 3rd quarter valued at approximately $2,121,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Sprouts Farmers Market by 48.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,015 shares of the company’s stock valued at $431,000 after acquiring an additional 5,529 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of Sprouts Farmers Market by 2.6% in the 3rd quarter. Shell Asset Management Co. now owns 14,609 shares of the company’s stock valued at $405,000 after acquiring an additional 365 shares in the last quarter. Inspire Investing LLC grew its holdings in Sprouts Farmers Market by 13.0% in the 2nd quarter. Inspire Investing LLC now owns 8,337 shares of the company’s stock valued at $211,000 after buying an additional 956 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in Sprouts Farmers Market in the 3rd quarter valued at approximately $6,852,000. 99.11% of the stock is owned by institutional investors.

Sprouts Farmers Market Price Performance

Shares of NASDAQ:SFM opened at $33.03 on Monday. Sprouts Farmers Market, Inc. has a 1-year low of $22.56 and a 1-year high of $35.59. The firm has a market capitalization of $3.40 billion, a PE ratio of 13.82, a PEG ratio of 1.37 and a beta of 0.39. The business’s 50 day moving average is $32.05 and its 200-day moving average is $31.00. The company has a current ratio of 1.29, a quick ratio of 0.70 and a debt-to-equity ratio of 0.25.

Sprouts Farmers Market (NASDAQ:SFM – Get Rating) last announced its quarterly earnings data on Thursday, March 2nd. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. Sprouts Farmers Market had a return on equity of 25.40% and a net margin of 4.08%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the firm earned $0.32 EPS. Sprouts Farmers Market’s revenue for the quarter was up 5.6% compared to the same quarter last year. Sell-side analysts predict that Sprouts Farmers Market, Inc. will post 2.52 earnings per share for the current year.

Insider Activity at Sprouts Farmers Market

In related news, insider David Mcglinchey sold 8,321 shares of the business’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $32.85, for a total value of $273,344.85. Following the sale, the insider now owns 43,151 shares of the company’s stock, valued at approximately $1,417,510.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider David Mcglinchey sold 8,321 shares of the business’s stock in a transaction on Friday, March 10th. The stock was sold at an average price of $32.85, for a total value of $273,344.85. Following the sale, the insider now owns 43,151 shares of the company’s stock, valued at approximately $1,417,510.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jack Sinclair sold 66,709 shares of the business’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $32.85, for a total value of $2,191,390.65. Following the completion of the sale, the chief executive officer now directly owns 290,928 shares in the company, valued at approximately $9,556,984.80. The disclosure for this sale can be found here. Insiders have sold a total of 75,492 shares of company stock valued at $2,479,912 in the last 90 days. 0.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on SFM shares. Deutsche Bank Aktiengesellschaft raised their target price on Sprouts Farmers Market from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, March 3rd. Northcoast Research lowered Sprouts Farmers Market from a “buy” rating to a “neutral” rating in a report on Thursday, November 17th. BMO Capital Markets raised their target price on Sprouts Farmers Market from $21.00 to $26.00 and gave the company an “underperform” rating in a report on Monday, March 6th. JPMorgan Chase & Co. raised their target price on Sprouts Farmers Market from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, March 8th. Finally, The Goldman Sachs Group raised their target price on Sprouts Farmers Market from $26.00 to $29.00 and gave the company a “sell” rating in a report on Wednesday, November 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.57.

Sprouts Farmers Market Company Profile

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Sprouts Farmers Market, Inc engages in the operation of healthy grocery stores. The firm specializes in fresh, natural and organic products. Its products include fresh produce, bulk foods, vitamins and supplements, grocery, meat and seafood, deli, bakery, dairy, frozen foods, body care and natural household items.