Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 25,941 shares of the company’s stock, valued at approximately $909,000.
Several other institutional investors and hedge funds have also modified their holdings of SFM. Wasatch Advisors Inc. acquired a new position in shares of Sprouts Farmers Market in the 1st quarter valued at about $54,912,000. Morgan Stanley raised its holdings in Sprouts Farmers Market by 111.3% in the 4th quarter. Morgan Stanley now owns 3,093,805 shares of the company’s stock worth $100,146,000 after purchasing an additional 1,629,709 shares during the period. Congress Asset Management Co. MA acquired a new position in Sprouts Farmers Market in the 1st quarter worth about $20,150,000. Millennium Management LLC raised its holdings in Sprouts Farmers Market by 366.1% in the 2nd quarter. Millennium Management LLC now owns 731,309 shares of the company’s stock worth $18,517,000 after purchasing an additional 574,423 shares during the period. Finally, American Century Companies Inc. raised its holdings in Sprouts Farmers Market by 63.9% in the 4th quarter. American Century Companies Inc. now owns 1,355,517 shares of the company’s stock worth $43,878,000 after purchasing an additional 528,482 shares during the period.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SFM. Deutsche Bank Aktiengesellschaft cut Sprouts Farmers Market from a “buy” rating to a “hold” rating and reduced their price target for the stock from $45.00 to $42.00 in a report on Tuesday, July 25th. StockNews.com began coverage on Sprouts Farmers Market in a report on Saturday, August 19th. They issued a “hold” rating for the company. Wells Fargo & Company upped their price target on Sprouts Farmers Market from $25.00 to $32.00 in a report on Tuesday, May 2nd. Evercore ISI upped their price target on Sprouts Farmers Market from $29.00 to $30.00 in a report on Tuesday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on Sprouts Farmers Market from $36.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.63.
Sprouts Farmers Market Price Performance
NASDAQ:SFM opened at $39.46 on Thursday. The company has a current ratio of 1.18, a quick ratio of 0.58 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average of $37.42 and a two-hundred day moving average of $35.21. The firm has a market cap of $4.02 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 1.52 and a beta of 0.43. Sprouts Farmers Market, Inc. has a 12 month low of $26.34 and a 12 month high of $40.39.
Sprouts Farmers Market (NASDAQ:SFM – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.69 billion. Sprouts Farmers Market had a return on equity of 27.23% and a net margin of 3.86%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. On average, analysts expect that Sprouts Farmers Market, Inc. will post 2.74 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Sprouts Farmers Market news, insider John Scott Neal sold 58,427 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $38.03, for a total transaction of $2,221,978.81. Following the transaction, the insider now directly owns 12,781 shares in the company, valued at $486,061.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.
About Sprouts Farmers Market
Sprouts Farmers Market, Inc, together with its subsidiaries, retails fresh, natural, and organic food products in the United States. It provides perishable product categories, including fresh produce, meat, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.
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