Credit Suisse AG Reduces Stock Holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Posted by Defense World Staff on Jun 8th, 2023

Credit Suisse AG reduced its stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Get Rating) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 628,168 shares of the company’s stock after selling 43,058 shares during the period. Credit Suisse AG owned 0.59% of Sprouts Farmers Market worth $20,334,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC acquired a new stake in shares of Sprouts Farmers Market in the fourth quarter valued at approximately $206,000. Geode Capital Management LLC boosted its holdings in shares of Sprouts Farmers Market by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,992,199 shares of the company’s stock valued at $64,487,000 after acquiring an additional 38,959 shares during the period. American Century Companies Inc. boosted its holdings in shares of Sprouts Farmers Market by 63.9% in the fourth quarter. American Century Companies Inc. now owns 1,355,517 shares of the company’s stock valued at $43,878,000 after acquiring an additional 528,482 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Sprouts Farmers Market by 11.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 47,618 shares of the company’s stock valued at $1,541,000 after acquiring an additional 5,014 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Sprouts Farmers Market in the fourth quarter valued at approximately $394,000. 99.11% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jack Sinclair sold 66,709 shares of the firm’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $32.85, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Lawrence Molloy sold 1,159 shares of the stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $33.13, for a total value of $38,397.67. Following the completion of the sale, the chief financial officer now directly owns 240,891 shares of the company’s stock, valued at approximately $7,980,718.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jack Sinclair sold 66,709 shares of the stock in a transaction dated Friday, March 10th. The stock was 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 of the company’s stock, valued at $9,556,984.80. The disclosure for this sale can be found here. Insiders have sold 280,782 shares of company stock valued at $9,677,615 over the last three months. Company insiders own 1.20% of the company’s stock.

Sprouts Farmers Market Stock Up 2.1 %

NASDAQ SFM opened at $33.69 on Thursday. The stock has a market cap of $3.47 billion, a PE ratio of 14.46, a P/E/G ratio of 1.31 and a beta of 0.41. Sprouts Farmers Market, Inc. has a fifty-two week low of $24.67 and a fifty-two week high of $39.99. The business has a 50 day moving average price of $34.98 and a two-hundred day moving average price of $33.49. The company has a quick ratio of 0.68, a current ratio of 1.27 and a debt-to-equity ratio of 0.22.

Sprouts Farmers Market (NASDAQ:SFM – Get Rating) last released its earnings results on Monday, May 1st. The company reported $0.98 EPS 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 analysts’ expectations of $1.72 billion. Sprouts Farmers Market had a return on equity of 26.55% and a net margin of 3.83%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 EPS. As a group, sell-side analysts predict that Sprouts Farmers Market, Inc. will post 2.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SFM has been the subject of several research analyst reports. Evercore ISI increased their price objective on Sprouts Farmers Market from $29.00 to $30.00 in a report 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 report on Monday, March 6th. JPMorgan Chase & Co. lifted their price objective on Sprouts Farmers Market from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 8th. BMO Capital Markets lifted their price objective on Sprouts Farmers Market from $21.00 to $26.00 and gave the stock an “underperform” rating in a research report on Monday, March 6th. Finally, Wells Fargo & Company raised their price target on Sprouts Farmers Market from $25.00 to $32.00 in a research note on Tuesday, May 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sprouts Farmers Market currently has an average rating of “Hold” and a consensus target price of $33.75.

Sprouts Farmers Market 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.