Sprouts Farmers Market, Inc. (NASDAQ:SFM) Stock Position Boosted by Ritholtz Wealth Management

Ritholtz Wealth Management grew its stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 59.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,790 shares of the company’s stock after buying an additional 6,286 shares during the quarter. Ritholtz Wealth Management’s holdings in Sprouts Farmers Market were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SFM. Point72 Asset Management L.P. boosted its stake in Sprouts Farmers Market by 411.4% during the fourth quarter. Point72 Asset Management L.P. now owns 1,538,410 shares of the company’s stock valued at $74,013,000 after buying an additional 1,237,610 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in Sprouts Farmers Market in the 4th quarter valued at about $23,992,000. Goldman Sachs Group Inc. boosted its position 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 valued at $71,135,000 after purchasing an additional 398,901 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Sprouts Farmers Market by 9.8% in the 1st quarter. Nordea Investment Management AB now owns 3,336,707 shares of the company’s stock worth $216,419,000 after purchasing an additional 297,067 shares during the last quarter. Finally, Invenomic Capital Management LP bought a new stake in shares of Sprouts Farmers Market in the 4th quarter worth approximately $13,840,000.

Sprouts Farmers Market Stock Performance

Shares of Sprouts Farmers Market stock opened at $104.05 on Tuesday. Sprouts Farmers Market, Inc. has a 12 month low of $38.46 and a 12 month high of $104.41. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 0.01. The stock has a market cap of $10.45 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.96 and a beta of 0.55. The business has a fifty day simple moving average of $90.72 and a 200-day simple moving average of $76.44.

Sprouts Farmers Market (NASDAQ:SFM) last released its earnings results on Monday, July 29th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.16. The company had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.71 EPS. On average, sell-side analysts anticipate that Sprouts Farmers Market, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SFM. BMO Capital Markets upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $40.00 to $102.00 in a research report on Tuesday, July 30th. Roth Mkm lifted their target price on Sprouts Farmers Market from $58.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. The Goldman Sachs Group upped their target price on Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Evercore ISI lifted their price target on Sprouts Farmers Market from $84.00 to $96.00 and gave the stock an “in-line” rating in a research note on Tuesday, July 30th. Finally, Bank of America boosted their price objective on Sprouts Farmers Market from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Sprouts Farmers Market has an average rating of “Hold” and a consensus price target of $93.38.

Insider Activity at Sprouts Farmers Market

In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $83.38, for a total value of $476,433.32. Following the completion of the sale, the chief executive officer now owns 245,288 shares in the company, valued at approximately $20,452,113.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,714 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total value of $476,433.32. Following the transaction, the chief executive officer now owns 245,288 shares in the company, valued at $20,452,113.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Scott Neal sold 6,535 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $102.29, for a total value of $668,465.15. Following the completion of the transaction, the insider now directly owns 14,293 shares in the company, valued at $1,462,030.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,228 shares of company stock valued at $11,795,565. Corporate insiders own 1.10% of the company’s stock.

About Sprouts Farmers Market

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.