Eagle Asset Management Inc. Raises Position in Sprouts Farmers Market Inc. (SFM)
Eagle Asset Management Inc. boosted its position in shares of Sprouts Farmers Market Inc. (NASDAQ:SFM) by 172.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 989,891 shares of the company’s stock after buying an additional 627,183 shares during the period. Eagle Asset Management Inc.’s holdings in Sprouts Farmers Market were worth $20,441,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Sprouts Farmers Market by 3.3% in the second quarter. Vanguard Group Inc. now owns 10,811,104 shares of the company’s stock worth $247,574,000 after buying an additional 343,615 shares in the last quarter. Jennison Associates LLC boosted its stake in Sprouts Farmers Market by 19.5% in the second quarter. Jennison Associates LLC now owns 6,918,927 shares of the company’s stock worth $158,443,000 after buying an additional 1,129,029 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Sprouts Farmers Market by 0.5% in the second quarter. JPMorgan Chase & Co. now owns 5,655,331 shares of the company’s stock worth $129,506,000 after buying an additional 28,629 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Sprouts Farmers Market by 2.5% in the second quarter. BlackRock Fund Advisors now owns 5,037,756 shares of the company’s stock worth $115,365,000 after buying an additional 123,620 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in Sprouts Farmers Market by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,203,500 shares of the company’s stock worth $96,260,000 after buying an additional 14,212 shares in the last quarter. 92.59% of the stock is owned by institutional investors.
Sprouts Farmers Market Inc. (NASDAQ:SFM) traded down 2.60% during midday trading on Tuesday, reaching $20.60. 891,333 shares of the company’s stock were exchanged. Sprouts Farmers Market Inc. has a 12 month low of $18.70 and a 12 month high of $30.00. The firm has a 50 day moving average of $21.53 and a 200-day moving average of $22.33. The stock has a market cap of $2.93 billion, a PE ratio of 23.17 and a beta of 0.67.
Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.01. Sprouts Farmers Market had a return on equity of 17.00% and a net margin of 3.40%. The firm earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts predict that Sprouts Farmers Market Inc. will post $0.84 earnings per share for the current year.
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Several analysts have weighed in on SFM shares. Deutsche Bank AG upgraded shares of Sprouts Farmers Market from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $20.00 to $24.00 in a research note on Thursday, August 25th. Wells Fargo & Co. reiterated an “outperform” rating on shares of Sprouts Farmers Market in a research note on Thursday, August 4th. RBC Capital Markets reiterated an “outperform” rating and issued a $33.00 price objective on shares of Sprouts Farmers Market in a research note on Tuesday, August 2nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $33.00 price objective on shares of Sprouts Farmers Market in a research note on Tuesday, August 2nd. Finally, Vetr upgraded shares of Sprouts Farmers Market from a “buy” rating to a “strong-buy” rating and set a $26.50 price objective for the company in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.50.
In related news, insider Brandon F. Lombardi sold 22,959 shares of the firm’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $21.03, for a total value of $482,827.77. Following the sale, the insider now directly owns 30,118 shares of the company’s stock, valued at $633,381.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bradley Lukow bought 2,000 shares of the stock in a transaction that occurred on Friday, September 16th. The stock was bought at an average cost of $20.05 per share, for a total transaction of $40,100.00. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by insiders.
Sprouts Farmers Market Company Profile
Sprouts Farmers Market, Inc is a food retailer that offers natural and organic food, including produce, bulk foods, meat and seafood, bakery, dairy, frozen foods, body care and natural household items. The Company categorizes its products as perishable and non-perishable. Its perishable product category includes produce, meat, seafood, deli and bakery.
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