Public Employees Retirement System of Ohio purchased a new position in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Free Report) during the second quarter, HoldingsChannel.com reports. The fund purchased 26,682 shares of the company’s stock, valued at approximately $2,257,000.
Other institutional investors have also recently made changes to their positions in the company. TD Private Client Wealth LLC lifted its holdings in shares of Sprouts Farmers Market by 1,309.1% during the 4th quarter. TD Private Client Wealth LLC now owns 310 shares of the company’s stock worth $25,000 after acquiring an additional 288 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Sprouts Farmers Market during the 1st quarter valued at $25,000. Bell Investment Advisors Inc purchased a new position in Sprouts Farmers Market during the 2nd quarter valued at about $29,000. Newbridge Financial Services Group Inc. purchased a new stake in Sprouts Farmers Market in the 2nd quarter worth approximately $29,000. Finally, Clearstead Advisors LLC lifted its holdings in Sprouts Farmers Market by 72.7% in the 4th quarter. Clearstead Advisors LLC now owns 380 shares of the company’s stock worth $30,000 after buying an additional 160 shares during the period.
Sprouts Farmers Market Price Performance
SFM stock opened at $81.40 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.43 and a current ratio of 0.99. The firm has a 50 day moving average price of $81.56 and a 200-day moving average price of $80.03. Sprouts Farmers Market, Inc. has a 52-week low of $64.75 and a 52-week high of $141.24. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.01 and a beta of 0.67.
Insider Activity at Sprouts Farmers Market
In related news, CEO Jack Sinclair sold 10,788 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $82.66, for a total transaction of $891,736.08. Following the completion of the sale, the chief executive officer owned 269,980 shares of the company’s stock, valued at $22,316,546.80. This trade represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Nicholas Konat sold 12,538 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total value of $1,102,090.20. Following the completion of the transaction, the chief operating officer owned 66,119 shares of the company’s stock, valued at $5,811,860.10. This represents a 15.94% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 58,287 shares of company stock valued at $4,997,929. 1.30% of the stock is owned by insiders.
Analyst Ratings Changes
SFM has been the subject of a number of recent analyst reports. UBS Group upped their target price on Sprouts Farmers Market from $80.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. upgraded shares of Sprouts Farmers Market from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $80.00 to $103.00 in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $84.00 target price on shares of Sprouts Farmers Market in a research report on Thursday, July 30th. Royal Bank Of Canada reiterated an “outperform” rating and set a $114.00 price target on shares of Sprouts Farmers Market in a research report on Monday, June 1st. Finally, Evercore restated an “outperform” rating and issued a $95.00 price objective on shares of Sprouts Farmers Market in a report on Tuesday. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.25.
Check Out Our Latest Analysis on SFM
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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