Teacher Retirement System of Texas Trims Stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Posted by Defense World Staff on Jun 8th, 2023

Teacher Retirement System of Texas reduced its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Get Rating) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,998 shares of the company’s stock after selling 1,305 shares during the quarter. Teacher Retirement System of Texas’ holdings in Sprouts Farmers Market were worth $1,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SFM. Raymond James Financial Services Advisors Inc. raised its position in Sprouts Farmers Market by 17.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 22,592 shares of the company’s stock worth $722,000 after purchasing an additional 3,389 shares during the period. Natixis Advisors L.P. bought a new position in Sprouts Farmers Market in the 1st quarter worth about $387,000. Rhumbline Advisers grew its stake in Sprouts Farmers Market by 1.6% in the 1st quarter. Rhumbline Advisers now owns 336,039 shares of the company’s stock worth $10,747,000 after acquiring an additional 5,334 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Sprouts Farmers Market by 10.5% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,142 shares of the company’s stock worth $1,316,000 after acquiring an additional 3,923 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Sprouts Farmers Market by 26.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 78,169 shares of the company’s stock worth $2,588,000 after acquiring an additional 16,200 shares in the last quarter. 99.11% of the stock is owned by hedge funds and other institutional investors.

Sprouts Farmers Market Price Performance

Shares of SFM opened at $33.69 on Thursday. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.31 and a beta of 0.41. Sprouts Farmers Market, Inc. has a twelve month low of $24.67 and a twelve month high of $39.99. The company has a quick ratio of 0.68, a current ratio of 1.27 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average of $34.98 and a two-hundred day moving average of $33.49.

Sprouts Farmers Market (NASDAQ:SFM – Get Rating) last announced its earnings results on Monday, May 1st. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.13. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. Sprouts Farmers Market had a net margin of 3.83% and a return on equity of 26.55%. Sprouts Farmers Market’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $0.79 earnings per share. As a group, analysts predict that Sprouts Farmers Market, Inc. will post 2.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprouts Farmers Market

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 66,709 shares of the firm’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 transaction, the chief executive officer now owns 290,928 shares of the company’s stock, valued at $9,556,984.80. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Sprouts Farmers Market news, CEO Jack Sinclair sold 66,709 shares of the firm’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 transaction, the chief executive officer now owns 290,928 shares of the company’s stock, valued at $9,556,984.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Lawrence Molloy sold 1,159 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $33.13, for a total transaction of $38,397.67. Following the completion of the transaction, the chief financial officer now directly owns 240,891 shares of the company’s stock, valued at approximately $7,980,718.83. The disclosure for this sale can be found here. Insiders sold a total of 280,782 shares of company stock worth $9,677,615 over the last three months. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

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

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.