Kingsview Wealth Management LLC Reduces Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Kingsview Wealth Management LLC lessened its stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 32.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,365 shares of the company’s stock after selling 1,585 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Sprouts Farmers Market were worth $372,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Cerity Partners LLC boosted its stake in shares of Sprouts Farmers Market by 17.8% during the third quarter. Cerity Partners LLC now owns 27,557 shares of the company’s stock valued at $3,043,000 after purchasing an additional 4,171 shares during the period. Citigroup Inc. lifted its stake in Sprouts Farmers Market by 137.7% in the third quarter. Citigroup Inc. now owns 249,914 shares of the company’s stock worth $27,593,000 after acquiring an additional 144,761 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Sprouts Farmers Market by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 983,257 shares of the company’s stock worth $108,561,000 after acquiring an additional 48,103 shares during the period. Intech Investment Management LLC lifted its stake in Sprouts Farmers Market by 273.6% in the third quarter. Intech Investment Management LLC now owns 98,438 shares of the company’s stock worth $10,869,000 after acquiring an additional 72,087 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in Sprouts Farmers Market by 80.6% in the third quarter. First Horizon Advisors Inc. now owns 363 shares of the company’s stock worth $40,000 after acquiring an additional 162 shares during the period.

Sprouts Farmers Market Price Performance

Shares of NASDAQ:SFM opened at $151.97 on Friday. Sprouts Farmers Market, Inc. has a 1-year low of $41.27 and a 1-year high of $154.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.13 and a quick ratio of 0.59. The business has a fifty day moving average price of $125.28 and a 200-day moving average price of $101.00. The company has a market capitalization of $15.20 billion, a PE ratio of 43.92, a PEG ratio of 2.24 and a beta of 0.54.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.14. Sprouts Farmers Market had a return on equity of 28.24% and a net margin of 4.73%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the company earned $0.65 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. As a group, equities analysts expect that Sprouts Farmers Market, Inc. will post 3.68 EPS for the current fiscal year.

Insider Activity

In related news, insider Dustin Hamilton sold 921 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $113.60, for a total transaction of $104,625.60. Following the sale, the insider now directly owns 25,251 shares of the company’s stock, valued at $2,868,513.60. This trade represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jack Sinclair sold 5,714 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $101.09, for a total value of $577,628.26. Following the sale, the chief executive officer now directly owns 222,432 shares in the company, valued at $22,485,650.88. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,516 shares of company stock worth $4,465,466 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SFM has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Sprouts Farmers Market from $90.00 to $130.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Melius Research initiated coverage on Sprouts Farmers Market in a research note on Monday, September 23rd. They issued a “hold” rating and a $105.00 price target for the company. StockNews.com raised Sprouts Farmers Market from a “hold” rating to a “buy” rating in a research note on Thursday. Bank of America raised their price target on Sprouts Farmers Market from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group increased their price objective on Sprouts Farmers Market from $127.00 to $159.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $115.40.

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.