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

Posted by Defense World Staff on Aug 24th, 2023

Credit Suisse AG cut its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Free Report) by 1.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 617,485 shares of the company’s stock after selling 10,683 shares during the quarter. Credit Suisse AG owned about 0.60% of Sprouts Farmers Market worth $21,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tocqueville Asset Management L.P. lifted its stake in Sprouts Farmers Market by 3.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 14,900 shares of the company’s stock worth $522,000 after purchasing an additional 500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Sprouts Farmers Market during the 1st quarter valued at $909,000. Tower Research Capital LLC TRC raised its position in shares of Sprouts Farmers Market by 36.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,912 shares of the company’s stock valued at $207,000 after buying an additional 1,568 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Sprouts Farmers Market by 25.1% during the 1st quarter. Russell Investments Group Ltd. now owns 225,212 shares of the company’s stock valued at $7,889,000 after buying an additional 45,165 shares in the last quarter. Finally, Lindenwold Advisors INC raised its position in shares of Sprouts Farmers Market by 14.7% during the 1st quarter. Lindenwold Advisors INC now owns 11,145 shares of the company’s stock valued at $390,000 after buying an additional 1,428 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SFM shares. StockNews.com started coverage on shares of Sprouts Farmers Market in a research report on Saturday, August 19th. They set a “hold” rating on the stock. JPMorgan Chase & Co. raised their price objective on shares of Sprouts Farmers Market from $36.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, August 2nd. Deutsche Bank Aktiengesellschaft cut shares of Sprouts Farmers Market from a “buy” rating to a “hold” rating and lowered their price objective for the company from $45.00 to $42.00 in a research report on Tuesday, July 25th. Evercore ISI increased their target price on shares of Sprouts Farmers Market from $29.00 to $30.00 in a report on Tuesday, May 2nd. Finally, Wells Fargo & Company increased their target price on shares of Sprouts Farmers Market from $25.00 to $32.00 in a report on Tuesday, May 2nd. Three analysts have rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $33.63.

View Our Latest Analysis on Sprouts Farmers Market

Sprouts Farmers Market Price Performance

Shares of Sprouts Farmers Market stock opened at $39.46 on Thursday. The firm has a market cap of $4.02 billion, a PE 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. The company has a quick ratio of 0.58, a current ratio of 1.18 and a debt-to-equity ratio of 0.17. The company’s fifty day simple moving average is $37.42 and its two-hundred day simple moving average is $35.21.

Sprouts Farmers Market (NASDAQ:SFM – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.69 billion. Sprouts Farmers Market had a net margin of 3.86% and a return on equity of 27.23%. The company’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. As a group, equities analysts expect that Sprouts Farmers Market, Inc. will post 2.74 EPS for the current year.

Insiders Place Their Bets

In other news, insider John Scott Neal sold 58,427 shares of Sprouts Farmers Market stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $38.03, for a total transaction of $2,221,978.81. Following the sale, the insider now owns 12,781 shares of the company’s stock, valued at approximately $486,061.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

About Sprouts Farmers Market

(Free Report)

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.