The Manufacturers Life Insurance Company Sells 1,570 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

The Manufacturers Life Insurance Company lessened its position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 121,087 shares of the company’s stock after selling 1,570 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Sprouts Farmers Market were worth $10,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SFM. Norges Bank purchased a new stake in Sprouts Farmers Market during the fourth quarter valued at about $8,650,000. Hsbc Holdings PLC boosted its holdings in Sprouts Farmers Market by 67.1% in the 4th quarter. Hsbc Holdings PLC now owns 43,850 shares of the company’s stock worth $2,110,000 after buying an additional 17,607 shares during the period. Parallel Advisors LLC boosted its holdings in Sprouts Farmers Market by 11.7% in the 4th quarter. Parallel Advisors LLC now owns 1,987 shares of the company’s stock worth $96,000 after buying an additional 208 shares during the period. Blueshift Asset Management LLC bought a new position in Sprouts Farmers Market in the 4th quarter worth approximately $214,000. Finally, Crossmark Global Holdings Inc. grew its stake in Sprouts Farmers Market by 1.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 16,219 shares of the company’s stock valued at $780,000 after buying an additional 258 shares in the last quarter.

Wall Street Analyst Weigh In

SFM has been the topic of several recent research reports. BMO Capital Markets upgraded Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $40.00 to $102.00 in a research report on Tuesday, July 30th. Melius Research initiated coverage on Sprouts Farmers Market in a report on Monday, September 23rd. They set a “hold” rating and a $105.00 price objective on the stock. The Goldman Sachs Group lifted 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. Royal Bank of Canada started coverage on shares of Sprouts Farmers Market in a report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 price target on the stock. Finally, UBS Group upped their target price on shares of Sprouts Farmers Market from $68.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $99.80.

Insiders Place Their Bets

In other news, insider Dustin Hamilton sold 500 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total transaction of $48,760.00. Following the transaction, the insider now directly owns 27,188 shares in the company, valued at approximately $2,651,373.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sprouts Farmers Market news, insider Timmi Zalatoris sold 56,800 shares of the company’s 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 completion of the sale, the insider now directly owns 10,895 shares in the company, valued at $1,089,500. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Dustin Hamilton sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $97.52, for a total value of $48,760.00. Following the transaction, the insider now directly owns 27,188 shares in the company, valued at $2,651,373.76. The disclosure for this sale can be found here. Insiders sold a total of 117,507 shares of company stock valued at $11,654,176 over the last 90 days. Insiders own 1.10% of the company’s stock.

Sprouts Farmers Market Trading Up 0.3 %

Shares of Sprouts Farmers Market stock opened at $111.04 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. Sprouts Farmers Market, Inc. has a 1 year low of $39.76 and a 1 year high of $111.96. The firm has a market cap of $11.12 billion, a PE ratio of 37.93, a PEG ratio of 3.07 and a beta of 0.56. The company has a 50 day simple moving average of $100.45 and a two-hundred day simple moving average of $83.19.

Sprouts Farmers Market (NASDAQ:SFM) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $0.71 EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Analysts expect that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current fiscal 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.