Point72 Asset Management L.P. Decreases Stock Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Point72 Asset Management L.P. trimmed its position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 493,603 shares of the company’s stock after selling 25,109 shares during the period. Point72 Asset Management L.P. owned approximately 0.49% of Sprouts Farmers Market worth $41,295,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new stake in shares of Sprouts Farmers Market during the first quarter valued at about $26,000. Crewe Advisors LLC grew its stake in Sprouts Farmers Market by 223.5% during the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock valued at $27,000 after purchasing an additional 219 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in Sprouts Farmers Market during the 2nd quarter worth approximately $29,000. Hanseatic Management Services Inc. acquired a new position in shares of Sprouts Farmers Market in the 2nd quarter valued at approximately $63,000. Finally, Parallel Advisors LLC boosted its stake in shares of Sprouts Farmers Market by 11.7% during the 4th quarter. Parallel Advisors LLC now owns 1,987 shares of the company’s stock valued at $96,000 after buying an additional 208 shares during the last quarter.

Insider Activity

In related news, insider Timmi Zalatoris sold 56,800 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $100.00, for a total value of $5,680,000.00. Following the completion of the transaction, the insider now directly owns 10,895 shares of the company’s stock, valued at approximately $1,089,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Timmi Zalatoris sold 56,800 shares of Sprouts Farmers Market stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $100.00, for a total transaction of $5,680,000.00. Following the sale, the insider now directly owns 10,895 shares in the company, valued at $1,089,500. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joel D. Anderson sold 20,851 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $96.16, for a total transaction of $2,005,032.16. Following the completion of the transaction, the director now owns 18,809 shares of the company’s stock, valued at approximately $1,808,673.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,221 shares of company stock valued at $12,130,609. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SFM. Wells Fargo & Company upgraded shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $62.00 to $90.00 in a research note on Tuesday, July 30th. UBS Group boosted their target price on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Sprouts Farmers Market from $63.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Evercore ISI upgraded Sprouts Farmers Market from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $96.00 to $120.00 in a research note on Monday, September 16th. Finally, BMO Capital Markets upgraded Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $40.00 to $102.00 in a research note on Tuesday, July 30th. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $99.80.

Sprouts Farmers Market Stock Performance

SFM stock opened at $110.14 on Thursday. Sprouts Farmers Market, Inc. has a 1 year low of $39.76 and a 1 year high of $110.17. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of 37.98, a PEG ratio of 3.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 1.03. The stock’s fifty day moving average is $97.78 and its two-hundred day moving average is $81.57.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings data 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. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period last year, the firm posted $0.71 EPS. Sprouts Farmers Market’s quarterly revenue was up 12.3% compared to the same quarter last year. On average, research analysts predict that Sprouts Farmers Market, Inc. will post 3.37 EPS for the current year.

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.