UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Free Report) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,464,015 shares of the company’s stock after buying an additional 111,574 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.57% of Sprouts Farmers Market worth $123,826,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Royal London Asset Management Ltd. grew its holdings in shares of Sprouts Farmers Market by 2.8% in the 2nd quarter. Royal London Asset Management Ltd. now owns 257,622 shares of the company’s stock worth $21,790,000 after acquiring an additional 7,133 shares during the last quarter. Prosperitas Financial LLC acquired a new position in shares of Sprouts Farmers Market in the 2nd quarter valued at $5,035,000. Wellington Management Group LLP increased its stake in Sprouts Farmers Market by 548.9% in the 2nd quarter. Wellington Management Group LLP now owns 248,958 shares of the company’s stock worth $21,057,000 after purchasing an additional 210,592 shares in the last quarter. Lombard Odier Asset Management Europe Ltd acquired a new stake in Sprouts Farmers Market during the 2nd quarter worth about $9,358,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in Sprouts Farmers Market during the second quarter valued at about $9,204,000.
Sprouts Farmers Market Trading Down 1.5%
NASDAQ SFM opened at $80.81 on Wednesday. Sprouts Farmers Market, Inc. has a 1-year low of $64.75 and a 1-year high of $141.24. The company has a current ratio of 0.99, a quick ratio of 0.43 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $7.54 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.03 and a beta of 0.67. The firm’s fifty day simple moving average is $81.77 and its 200-day simple moving average is $79.87.
Wall Street Analysts Forecast Growth
SFM has been the topic of a number of recent analyst reports. Evercore restated an “outperform” rating and set a $95.00 price target on shares of Sprouts Farmers Market in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Sprouts Farmers Market in a report on Wednesday, June 24th. Royal Bank Of Canada reiterated an “outperform” rating and set a $114.00 price target on shares of Sprouts Farmers Market in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $84.00 price objective on shares of Sprouts Farmers Market in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. raised Sprouts Farmers Market from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $80.00 to $103.00 in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $92.25.
Check Out Our Latest Stock Analysis on SFM
Insider Transactions at Sprouts Farmers Market
In other news, Director Joseph D. O’leary sold 2,597 shares of Sprouts Farmers Market stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $82.57, for a total transaction of $214,434.29. Following the completion of the sale, the director directly owned 14,710 shares in the company, valued at $1,214,604.70. The trade was a 15.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Nicholas Konat sold 12,538 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $87.90, for a total value of $1,102,090.20. Following the completion of the sale, the chief operating officer directly owned 66,119 shares of the company’s stock, valued at approximately $5,811,860.10. The trade was a 15.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 58,289 shares of company stock valued at $4,991,405 in the last three months. Corporate insiders own 1.30% of the company’s stock.
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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