Rhumbline Advisers Increases Holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Rhumbline Advisers lifted its position in Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 0.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 324,805 shares of the company’s stock after purchasing an additional 1,862 shares during the quarter. Rhumbline Advisers’ holdings in Sprouts Farmers Market were worth $27,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dorsey Wright & Associates acquired a new stake in Sprouts Farmers Market during the fourth quarter worth about $1,378,000. Cetera Advisors LLC acquired a new stake in Sprouts Farmers Market during the first quarter worth about $349,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Sprouts Farmers Market by 8.5% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 616,429 shares of the company’s stock worth $39,748,000 after acquiring an additional 48,225 shares during the period. Point72 Asset Management L.P. grew its holdings 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 worth $74,013,000 after acquiring an additional 1,237,610 shares during the period. Finally, Inspire Investing LLC grew its holdings in Sprouts Farmers Market by 78.8% during the first quarter. Inspire Investing LLC now owns 26,113 shares of the company’s stock worth $1,684,000 after acquiring an additional 11,508 shares during the period.

Insider Buying and Selling

In related news, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total transaction 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 document filed with the SEC, which is accessible through this link. In other Sprouts Farmers Market news, CEO Jack Sinclair sold 5,714 shares of Sprouts Farmers Market stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $83.38, for a total value of $476,433.32. Following the sale, the chief executive officer now owns 245,288 shares in the company, valued at $20,452,113.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Scott Neal sold 6,535 shares of Sprouts Farmers Market stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $102.29, for a total value of $668,465.15. Following the completion of the sale, the insider now owns 14,293 shares in the company, valued at approximately $1,462,030.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 126,942 shares of company stock worth $12,373,193. 1.10% of the stock is owned by corporate insiders.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ:SFM opened at $98.83 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.03 and a quick ratio of 0.44. The business’s 50 day moving average price is $92.01 and its 200-day moving average price is $77.57. The firm has a market capitalization of $9.93 billion, a PE ratio of 34.08, a P/E/G ratio of 2.78 and a beta of 0.56. Sprouts Farmers Market, Inc. has a 1 year low of $38.46 and a 1 year high of $104.41.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.16. Sprouts Farmers Market had a return on equity of 27.53% and a net margin of 4.52%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter last year, the business posted $0.71 earnings per share. The firm’s revenue was up 12.3% compared to the same quarter last year. As a group, equities research analysts expect that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America raised their target price on Sprouts Farmers Market from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI raised their price objective on Sprouts Farmers Market from $84.00 to $96.00 and gave the company an “in-line” rating in a report on Tuesday, July 30th. BMO Capital Markets raised Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $40.00 to $102.00 in a report on Tuesday, July 30th. Wells Fargo & Company raised Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $62.00 to $90.00 in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group raised their price objective on Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.25.

Sprouts Farmers Market Company 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.