Wells Fargo & Company MN lessened its holdings in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 39.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,880 shares of the company’s stock after selling 160,185 shares during the quarter. Wells Fargo & Company MN owned about 0.18% of Sprouts Farmers Market worth $5,665,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Sprouts Farmers Market by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,464,097 shares of the company’s stock worth $241,930,000 after purchasing an additional 46,546 shares during the period. BlackRock Inc. boosted its position in Sprouts Farmers Market by 15,641.8% during the first quarter. BlackRock Inc. now owns 10,204,960 shares of the company’s stock worth $235,938,000 after purchasing an additional 10,140,133 shares during the period. Bank of New York Mellon Corp boosted its position in Sprouts Farmers Market by 26.6% during the second quarter. Bank of New York Mellon Corp now owns 3,421,148 shares of the company’s stock worth $77,557,000 after purchasing an additional 719,381 shares during the period. Clearbridge Investments LLC boosted its position in Sprouts Farmers Market by 239,983.3% during the first quarter. Clearbridge Investments LLC now owns 2,744,152 shares of the company’s stock worth $63,445,000 after purchasing an additional 2,743,009 shares during the period. Finally, FMR LLC boosted its position in Sprouts Farmers Market by 771.4% during the first quarter. FMR LLC now owns 1,691,438 shares of the company’s stock worth $39,106,000 after purchasing an additional 1,497,338 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.
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SFM has been the subject of a number of research reports. J P Morgan Chase & Co upgraded shares of Sprouts Farmers Market from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $24.00 to $27.00 in a research report on Friday, August 4th. Morgan Stanley lowered shares of Sprouts Farmers Market from an “overweight” rating to an “equal” rating and increased their target price for the stock from $21.00 to $23.00 in a research report on Thursday, June 15th. Royal Bank Of Canada reiterated a “buy” rating and set a $28.00 target price on shares of Sprouts Farmers Market in a research report on Friday, June 30th. Stephens began coverage on shares of Sprouts Farmers Market in a research report on Friday, August 11th. They issued an “equal weight” rating and a $25.00 price objective for the company. Finally, UBS AG upgraded shares of Sprouts Farmers Market from a “market perform” rating to an “outperform” rating in a research report on Friday, June 16th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $25.00.
Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) opened at 18.27 on Thursday. The stock has a market capitalization of $2.48 billion, a P/E ratio of 20.60 and a beta of 0.54. 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 of $19.48 and a 200-day moving average of $22.42.
Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. Sprouts Farmers Market had a return on equity of 18.79% and a net margin of 2.96%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, analysts anticipate that Sprouts Farmers Market, Inc. will post $0.93 EPS for the current year.
In other news, CFO Bradley Lukow acquired 7,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average cost of $19.80 per share, with a total value of $138,600.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel Bruni acquired 15,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The shares were purchased at an average cost of $19.00 per share, for a total transaction of $285,000.00. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.
Sprouts Farmers Market Company Profile
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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