Sprouts Farmers Market Target of Unusually Large Options Trading (NASDAQ:SFM)

Sprouts Farmers Market Inc (NASDAQ:SFM) was the target of some unusual options trading on Thursday. Investors acquired 966 put options on the stock. This represents an increase of approximately 1,078% compared to the average daily volume of 82 put options.

Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in shares of Sprouts Farmers Market by 24.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,964,500 shares of the company’s stock worth $112,669,000 after acquiring an additional 1,183,000 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Sprouts Farmers Market by 792.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,296,570 shares of the company’s stock worth $24,492,000 after acquiring an additional 1,151,243 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Sprouts Farmers Market by 397.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,232,124 shares of the company’s stock worth $23,275,000 after acquiring an additional 984,434 shares in the last quarter. Impax Asset Management Group plc boosted its stake in shares of Sprouts Farmers Market by 51.1% during the 2nd quarter. Impax Asset Management Group plc now owns 1,839,150 shares of the company’s stock worth $34,742,000 after acquiring an additional 621,658 shares in the last quarter. Finally, PGGM Investments bought a new stake in shares of Sprouts Farmers Market during the 2nd quarter worth about $10,109,000. Hedge funds and other institutional investors own 94.18% of the company’s stock.

A number of brokerages have recently issued reports on SFM. BidaskClub raised Sprouts Farmers Market from a “strong sell” rating to a “sell” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered Sprouts Farmers Market from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $19.00 in a research report on Friday, August 2nd. Oppenheimer lowered Sprouts Farmers Market from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 23rd. CIBC reaffirmed a “market perform” rating on shares of Sprouts Farmers Market in a research report on Tuesday, July 23rd. Finally, Bank of America reaffirmed an “underperform” rating and set a $19.00 target price (down from $21.00) on shares of Sprouts Farmers Market in a research report on Wednesday, May 29th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $22.47.

NASDAQ:SFM traded up $0.24 during trading hours on Friday, hitting $19.98. 34,913 shares of the company’s stock traded hands, compared to its average volume of 1,323,380. The firm has a market cap of $2.35 billion, a P/E ratio of 15.39, a P/E/G ratio of 2.26 and a beta of 0.38. Sprouts Farmers Market has a twelve month low of $16.46 and a twelve month high of $28.69. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.25 and a current ratio of 0.85. The stock’s fifty day moving average price is $17.90 and its two-hundred day moving average price is $20.15.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.01). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.45 billion. Sprouts Farmers Market had a net margin of 2.61% and a return on equity of 26.10%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, equities research analysts predict that Sprouts Farmers Market will post 1.1 earnings per share for the current year.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc, a healthy grocery store, provides fresh, natural, and organic food products in the United States. Its stores offer fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, baked goods, dairy products, frozen foods, beer and wine, natural body care and household items.

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