Victory Capital Management Inc. lifted its holdings in shares of Sprouts Farmers Market (NASDAQ:SFM) by 6,484.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 505,019 shares of the company’s stock after purchasing an additional 497,349 shares during the period. Victory Capital Management Inc. owned 0.38% of Sprouts Farmers Market worth $11,853,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Macquarie Group Ltd. bought a new position in Sprouts Farmers Market in the fourth quarter valued at about $168,000. Meeder Asset Management Inc. boosted its holdings in Sprouts Farmers Market by 61.3% in the first quarter. Meeder Asset Management Inc. now owns 8,712 shares of the company’s stock valued at $204,000 after acquiring an additional 3,310 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Sprouts Farmers Market in the fourth quarter valued at about $216,000. Acadian Asset Management LLC bought a new position in Sprouts Farmers Market in the fourth quarter valued at about $224,000. Finally, State of Alaska Department of Revenue bought a new position in Sprouts Farmers Market in the fourth quarter valued at about $233,000. Institutional investors own 93.09% of the company’s stock.
Sprouts Farmers Market opened at $21.96 on Tuesday, according to MarketBeat. The stock has a market cap of $2.87 billion, a PE ratio of 21.74, a price-to-earnings-growth ratio of 1.37 and a beta of 0.88. The company has a current ratio of 1.00, a quick ratio of 0.24 and a debt-to-equity ratio of 0.76. Sprouts Farmers Market has a one year low of $17.55 and a one year high of $28.29.
Sprouts Farmers Market declared that its board has initiated a share buyback program on Thursday, February 22nd that permits the company to buyback $350.00 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.
Several equities analysts have weighed in on the company. Jefferies Group set a $26.00 target price on Sprouts Farmers Market and gave the company a “hold” rating in a research note on Monday, February 12th. Stephens set a $25.00 target price on Sprouts Farmers Market and gave the company a “hold” rating in a research note on Friday, February 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 target price on shares of Sprouts Farmers Market in a research note on Thursday, February 15th. BidaskClub raised Sprouts Farmers Market from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Finally, Gordon Haskett raised Sprouts Farmers Market from an “accumulate” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Wednesday, January 31st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Sprouts Farmers Market presently has a consensus rating of “Hold” and a consensus target price of $26.39.
In related news, insider Theodore Edward Frumkin II sold 1,722 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $25.24, for a total transaction of $43,463.28. Following the completion of the transaction, the insider now directly owns 37,125 shares in the company, valued at $937,035. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Shawn R. Gensch sold 997 shares of the stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $25.24, for a total value of $25,164.28. Following the transaction, the chief marketing officer now owns 26,423 shares of the company’s stock, valued at $666,916.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,474 shares of company stock valued at $5,559,885. 1.80% of the stock is owned by corporate insiders.
Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, meat and seafood, deli and baked goods, packaged groceries, vitamins and supplements, bulk foods, dairy and dairy alternatives, frozen foods, beer and wine, and natural body care and household items.
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