Punch & Associates Investment Management Inc. purchased a new position in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Free Report) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 245,608 shares of the company’s stock, valued at approximately $20,774,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Sprouts Farmers Market during the second quarter valued at approximately $768,171,000. Norges Bank bought a new stake in shares of Sprouts Farmers Market in the 4th quarter valued at approximately $161,398,000. Swedbank AB acquired a new position in shares of Sprouts Farmers Market in the 1st quarter worth approximately $121,906,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Sprouts Farmers Market in the 2nd quarter worth approximately $131,310,000. Finally, Bank of America Corp DE lifted its position in shares of Sprouts Farmers Market by 137.0% during the 2nd quarter. Bank of America Corp DE now owns 2,584,923 shares of the company’s stock worth $425,582,000 after buying an additional 1,494,014 shares during the period.
Sprouts Farmers Market Stock Up 1.0%
NASDAQ SFM opened at $86.83 on Thursday. The firm has a market cap of $8.10 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 2.13 and a beta of 0.68. Sprouts Farmers Market, Inc. has a one year low of $64.75 and a one year high of $145.58. The stock’s 50 day simple moving average is $81.79 and its 200 day simple moving average is $79.44. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.99 and a quick ratio of 0.43.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on SFM. Roth Capital set a $82.00 price target on Sprouts Farmers Market in a research note on Friday, July 31st. JPMorgan Chase & Co. upgraded Sprouts Farmers Market from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $80.00 to $103.00 in a research note on Thursday, July 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $114.00 price objective on shares of Sprouts Farmers Market in a report on Monday, June 1st. UBS Group boosted their target price on shares of Sprouts Farmers Market from $80.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $84.00 target price on shares of Sprouts Farmers Market in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sprouts Farmers Market currently has an average rating of “Hold” and a consensus price target of $91.58.
View Our Latest Analysis on Sprouts Farmers Market
Insider Activity
In other Sprouts Farmers Market news, CEO Jack Sinclair sold 10,788 shares of the stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $86.80, for a total transaction of $936,398.40. Following the sale, the chief executive officer owned 269,980 shares of the company’s stock, valued at $23,434,264. This represents a 3.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joseph D. O’leary sold 2,597 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $82.57, for a total transaction of $214,434.29. Following the completion of the sale, the director owned 14,710 shares of the company’s stock, valued at $1,214,604.70. The trade was a 15.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 58,289 shares of company stock worth $4,991,405. 1.30% of the stock is owned by corporate insiders.
About Sprouts Farmers Market
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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