Mitsubishi UFJ Trust & Banking Corp Increases Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Posted by Defense World Staff on May 29th, 2023

Mitsubishi UFJ Trust & Banking Corp lifted its stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Get Rating) by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 31,044 shares of the company’s stock after purchasing an additional 742 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Sprouts Farmers Market were worth $1,005,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SFM. Amalgamated Bank boosted its position in Sprouts Farmers Market by 0.4% in the third quarter. Amalgamated Bank now owns 74,863 shares of the company’s stock valued at $2,077,000 after buying an additional 320 shares during the last quarter. Shell Asset Management Co. boosted its position in Sprouts Farmers Market by 2.6% in the third quarter. Shell Asset Management Co. now owns 14,609 shares of the company’s stock valued at $405,000 after buying an additional 365 shares during the last quarter. Bessemer Group Inc. boosted its position in Sprouts Farmers Market by 27.2% in the third quarter. Bessemer Group Inc. now owns 1,978 shares of the company’s stock valued at $55,000 after buying an additional 423 shares during the last quarter. CWM LLC lifted its position in Sprouts Farmers Market by 29.5% during the fourth quarter. CWM LLC now owns 1,956 shares of the company’s stock valued at $63,000 after purchasing an additional 445 shares during the period. Finally, Arizona State Retirement System lifted its position in Sprouts Farmers Market by 1.8% during the fourth quarter. Arizona State Retirement System now owns 30,321 shares of the company’s stock valued at $981,000 after purchasing an additional 531 shares during the period. 99.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jack Sinclair sold 66,709 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 290,928 shares in the company, valued at approximately $9,556,984.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider David Mcglinchey sold 8,321 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $32.85, for a total value of $273,344.85. Following the completion of the sale, the insider now directly 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 can be accessed through the SEC website. Also, CEO Jack Sinclair sold 66,709 shares of the business’s stock in a transaction that occurred 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 owns 290,928 shares of the company’s stock, valued at approximately $9,556,984.80. The disclosure for this sale can be found here. Insiders have sold a total of 280,782 shares of company stock valued at $9,677,615 in the last 90 days. 1.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SFM has been the subject of a number of research reports. Credit Suisse Group restated a “neutral” rating and set a $35.00 target price on shares of Sprouts Farmers Market in a research report on Monday, March 6th. Wells Fargo & Company lifted their price target on Sprouts Farmers Market from $25.00 to $32.00 in a research report on Tuesday, May 2nd. Evercore ISI lifted their price target on Sprouts Farmers Market from $29.00 to $30.00 in a research report on Tuesday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on Sprouts Farmers Market from $40.00 to $45.00 in a research report on Tuesday, May 2nd. Finally, Roth Capital restated a “neutral” rating on shares of Sprouts Farmers Market in a research report on Friday, March 3rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Sprouts Farmers Market currently has a consensus rating of “Hold” and a consensus target price of $33.75.

Sprouts Farmers Market Price Performance

NASDAQ:SFM opened at $35.94 on Monday. Sprouts Farmers Market, Inc. has a 12 month low of $24.67 and a 12 month high of $39.99. The stock has a 50 day moving average of $34.89 and a two-hundred day moving average of $33.45. The company has a current ratio of 1.27, a quick ratio of 0.68 and a debt-to-equity ratio of 0.22. The firm has a market cap of $3.71 billion, a P/E ratio of 15.42, a price-to-earnings-growth ratio of 1.43 and a beta of 0.39.

Sprouts Farmers Market (NASDAQ:SFM – Get Rating) last posted its quarterly earnings data on Monday, May 1st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.85 by $0.13. Sprouts Farmers Market had a return on equity of 26.55% and a net margin of 3.83%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business earned $0.79 EPS. Sprouts Farmers Market’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts expect that Sprouts Farmers Market, Inc. will post 2.68 earnings per share for the current fiscal year.

About Sprouts Farmers Market

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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.