SummitTX Capital L.P. increased its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM – Free Report) by 176.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,343 shares of the company’s stock after purchasing an additional 15,540 shares during the period. SummitTX Capital L.P.’s holdings in Sprouts Farmers Market were worth $1,878,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of SFM. Northwestern Mutual Wealth Management Co. increased its holdings in Sprouts Farmers Market by 260.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 24,644 shares of the company’s stock worth $1,963,000 after purchasing an additional 17,812 shares in the last quarter. Signet Financial Management LLC acquired a new stake in shares of Sprouts Farmers Market in the 1st quarter valued at about $2,938,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sprouts Farmers Market by 848.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 33,300 shares of the company’s stock valued at $2,685,000 after purchasing an additional 29,788 shares in the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of Sprouts Farmers Market in the fourth quarter valued at about $1,333,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Sprouts Farmers Market during the fourth quarter worth about $4,841,000.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on SFM shares. Melius Research lowered Sprouts Farmers Market from a “hold” rating to a “sell” rating and set a $70.00 target price on the stock. in a research report on Monday, April 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $114.00 price target on shares of Sprouts Farmers Market in a research report on Monday, June 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sprouts Farmers Market in a research note on Wednesday, June 24th. Evercore reiterated an “outperform” rating on shares of Sprouts Farmers Market in a report on Monday. Finally, UBS Group lifted their price objective on shares of Sprouts Farmers Market from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $96.62.
Insider Activity
In related news, CEO Jack Sinclair sold 10,788 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $84.87, for a total transaction of $915,577.56. Following the transaction, the chief executive officer directly owned 269,980 shares in the company, valued at approximately $22,913,202.60. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nicholas Konat sold 12,538 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total transaction of $1,102,090.20. Following the sale, the chief operating officer directly owned 66,119 shares in the company, valued at $5,811,860.10. This trade represents a 15.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 45,310 shares of company stock valued at $3,873,881. 1.30% of the stock is owned by insiders.
Sprouts Farmers Market Stock Performance
Shares of NASDAQ SFM opened at $77.77 on Wednesday. The stock has a 50 day moving average price of $81.95 and a 200 day moving average price of $77.94. Sprouts Farmers Market, Inc. has a 52 week low of $64.75 and a 52 week high of $160.49. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.42 and a current ratio of 0.92. The stock has a market capitalization of $7.31 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 2.03 and a beta of 0.67.
Sprouts Farmers Market (NASDAQ:SFM – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.32 billion. Sprouts Farmers Market had a return on equity of 36.06% and a net margin of 5.70%.The business’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company earned $1.81 earnings per share. Analysts predict that Sprouts Farmers Market, Inc. will post 5.55 earnings per share for the current fiscal year.
Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc (NASDAQ: SFM) is a specialty grocery retailer focused on fresh, natural and organic foods. Headquartered in Phoenix, Arizona, the company operates stores designed to offer an open-market shopping experience, emphasizing quality produce sourced from regional farmers alongside organic pantry staples, dairy, meat and seafood. Sprouts’ product assortment also includes bulk foods, vitamins and supplements, a deli and prepared foods, reflecting its commitment to wellness and affordable healthy living.
Founded in 2002 by members of the Boney family, Sprouts began as a single farmers market in Chandler, Arizona.
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