Congress Wealth Management LLC DE Lowers Stock Holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Congress Wealth Management LLC DE cut its stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 12.6% in the 1st quarter, Holdings Channel reports. The fund owned 138,749 shares of the company’s stock after selling 20,051 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Sprouts Farmers Market were worth $8,947,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SFM. Nordea Investment Management AB increased its stake in shares of Sprouts Farmers Market by 614.5% during the fourth quarter. Nordea Investment Management AB now owns 3,039,640 shares of the company’s stock worth $146,359,000 after acquiring an additional 2,614,241 shares during the period. Point72 Asset Management L.P. increased its position in Sprouts Farmers Market by 411.4% during the 4th quarter. Point72 Asset Management L.P. now owns 1,538,410 shares of the company’s stock worth $74,013,000 after purchasing an additional 1,237,610 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Sprouts Farmers Market by 36.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,478,588 shares of the company’s stock worth $71,135,000 after buying an additional 398,901 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of Sprouts Farmers Market by 1.2% in the 4th quarter. Boston Trust Walden Corp now owns 1,477,341 shares of the company’s stock valued at $71,075,000 after buying an additional 17,565 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Sprouts Farmers Market by 1.3% in the fourth quarter. Assetmark Inc. now owns 1,055,002 shares of the company’s stock valued at $50,756,000 after buying an additional 13,184 shares in the last quarter.

Sprouts Farmers Market Stock Performance

Sprouts Farmers Market stock opened at $83.57 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.19 and a quick ratio of 0.65. Sprouts Farmers Market, Inc. has a 12 month low of $36.16 and a 12 month high of $84.46. The company has a market cap of $8.40 billion, a price-to-earnings ratio of 28.82, a price-to-earnings-growth ratio of 3.19 and a beta of 0.55. The stock’s 50-day moving average is $76.39 and its 200-day moving average is $63.24.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.12. Sprouts Farmers Market had a net margin of 4.25% and a return on equity of 26.77%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the company posted $0.98 earnings per share. Sprouts Farmers Market’s revenue was up 8.7% compared to the same quarter last year. Equities analysts anticipate that Sprouts Farmers Market, Inc. will post 3.12 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their target price on shares of Sprouts Farmers Market from $56.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Oppenheimer reaffirmed a “market perform” rating on shares of Sprouts Farmers Market in a research note on Monday, April 29th. UBS Group raised their target price on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the company a “neutral” rating in a report on Friday. Evercore ISI upped their price target on shares of Sprouts Farmers Market from $74.00 to $75.00 and gave the company an “in-line” rating in a report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Sprouts Farmers Market from $60.00 to $63.00 and gave the company a “hold” rating in a research note on Thursday, May 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.00.

Insider Activity at Sprouts Farmers Market

In related news, Director Joe Fortunato sold 5,000 shares of the stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $78.48, for a total value of $392,400.00. Following the completion of the sale, the director now directly owns 52,966 shares in the company, valued at approximately $4,156,771.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Sprouts Farmers Market news, Director Joe Fortunato sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $78.48, for a total value of $392,400.00. Following the completion of the transaction, the director now owns 52,966 shares in the company, valued at approximately $4,156,771.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kim Coffin sold 1,322 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $75.05, for a total transaction of $99,216.10. Following the completion of the sale, the senior vice president now directly owns 5,500 shares of the company’s stock, valued at approximately $412,775. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,433 shares of company stock worth $4,522,865. 1.10% of the stock is currently owned by corporate insiders.

Sprouts Farmers Market Profile

Sprouts Farmers Market, Inc, together with its subsidiaries, engages in the retailing of fresh, natural, and organic food products under the Sprouts brand in the United States. It offers perishable product categories, including fresh produce, meat and meat alternatives, seafood, deli, bakery, floral, and dairy and dairy alternatives; and non-perishable product categories, such as grocery, vitamins and supplements, bulk items, frozen foods, beer and wine, and natural health and body care.