Oakbrook Investments LLC acquired a new position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,350 shares of the company’s stock, valued at approximately $235,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Sprouts Farmers Market by 9.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,460 shares of the company’s stock valued at $126,000 after buying an additional 468 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Sprouts Farmers Market during the first quarter valued at approximately $152,000. Asset Management One Co. Ltd. purchased a new position in shares of Sprouts Farmers Market during the first quarter valued at approximately $161,000. Benjamin F. Edwards & Company Inc. increased its position in shares of Sprouts Farmers Market by 2.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 7,355 shares of the company’s stock valued at $170,000 after buying an additional 200 shares during the last quarter. Finally, First Quadrant L P CA increased its position in shares of Sprouts Farmers Market by 16.3% in the second quarter. First Quadrant L P CA now owns 7,905 shares of the company’s stock valued at $179,000 after buying an additional 1,105 shares during the last quarter. Institutional investors and hedge funds own 87.90% of the company’s stock.
Shares of Sprouts Farmers Market, Inc. (SFM) traded up 0.91% during trading on Friday, hitting $24.33. 221,906 shares of the company traded hands. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 27.43 and a beta of 0.52. Sprouts Farmers Market, Inc. has a 52 week low of $17.38 and a 52 week high of $25.98. The company has a 50 day moving average price of $23.82 and a 200 day moving average price of $22.23.
Sprouts Farmers Market (NASDAQ:SFM) last announced its earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Sprouts Farmers Market had a net margin of 2.96% and a return on equity of 18.79%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, analysts expect that Sprouts Farmers Market, Inc. will post $0.93 earnings per share for the current year.
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Several research analysts have commented on SFM shares. Zacks Investment Research raised shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Thursday, April 27th. Gordon Haskett assumed coverage on shares of Sprouts Farmers Market in a report on Tuesday, May 9th. They set an “accumulate” rating and a $27.00 price objective for the company. Morgan Stanley downgraded shares of Sprouts Farmers Market from an “overweight” rating to an “equal” rating and lifted their price objective for the stock from $21.00 to $23.00 in a report on Thursday, June 15th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sprouts Farmers Market in a report on Friday, April 28th. Finally, Jefferies Group LLC set a $26.00 price objective on shares of Sprouts Farmers Market and gave the stock a “buy” rating in a report on Monday, May 1st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.42.
In related news, CEO Amin N. Maredia sold 13,448 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $22.71, for a total transaction of $305,404.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO James Leroy Nielsen sold 55,322 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $23.74, for a total value of $1,313,344.28. Following the sale, the chief operating officer now directly owns 152,430 shares of the company’s stock, valued at $3,618,688.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,746 shares of company stock worth $2,638,027. Insiders own 2.60% of the company’s stock.
About Sprouts Farmers Market
Sprouts Farmers Market, Inc is a food retailer. The Company operates as a grocery store that offers fresh, natural and organic food that includes fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, body care and natural household items catering to consumers’ interest in health and wellness.
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