Intech Investment Management LLC raised its stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM – Free Report) by 135.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,337 shares of the company’s stock after acquiring an additional 138,453 shares during the period. Intech Investment Management LLC owned 0.25% of Sprouts Farmers Market worth $26,149,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Root Financial Partners LLC bought a new stake in shares of Sprouts Farmers Market in the 3rd quarter worth approximately $26,000. Newbridge Financial Services Group Inc. bought a new position in Sprouts Farmers Market during the 2nd quarter worth $29,000. Smartleaf Asset Management LLC increased its position in Sprouts Farmers Market by 98.6% in the third quarter. Smartleaf Asset Management LLC now owns 284 shares of the company’s stock worth $31,000 after buying an additional 141 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Sprouts Farmers Market in the third quarter valued at $33,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Sprouts Farmers Market during the third quarter valued at $49,000.
Sprouts Farmers Market Trading Down 0.3%
Sprouts Farmers Market stock opened at $73.73 on Thursday. Sprouts Farmers Market, Inc. has a 12-month low of $64.75 and a 12-month high of $182.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.93 and a quick ratio of 0.44. The stock has a market capitalization of $6.97 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 1.59 and a beta of 0.75. The firm has a 50 day simple moving average of $74.00 and a 200-day simple moving average of $96.41.
Insider Buying and Selling at Sprouts Farmers Market
In other news, insider John Scott Neal sold 17,471 shares of the company’s stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $85.20, for a total value of $1,488,529.20. Following the completion of the sale, the insider owned 14,178 shares in the company, valued at $1,207,965.60. This represents a 55.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Alisa Gmelich sold 3,161 shares of Sprouts Farmers Market stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $79.39, for a total value of $250,951.79. Following the transaction, the chief marketing officer directly owned 5,552 shares in the company, valued at approximately $440,773.28. The trade was a 36.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.10% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SFM. Barclays dropped their price objective on shares of Sprouts Farmers Market from $122.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Roth Mkm restated a “neutral” rating and issued a $74.00 target price on shares of Sprouts Farmers Market in a research report on Friday, February 20th. JPMorgan Chase & Co. cut their price target on Sprouts Farmers Market from $88.00 to $77.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. UBS Group reduced their price objective on Sprouts Farmers Market from $108.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft lowered Sprouts Farmers Market from a “buy” rating to a “hold” rating and set a $88.00 price objective for the company. in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.15.
Sprouts Farmers Market 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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