Sprouts Farmers Market, Inc. (NASDAQ:SFM) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC decreased its position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) by 66.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,041 shares of the company’s stock after selling 15,940 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Sprouts Farmers Market were worth $673,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Crewe Advisors LLC grew its holdings in Sprouts Farmers Market by 223.5% in the 2nd quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock worth $27,000 after buying an additional 219 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Sprouts Farmers Market during the 2nd quarter worth $29,000. Rise Advisors LLC bought a new position in shares of Sprouts Farmers Market in the first quarter worth $26,000. Hanseatic Management Services Inc. acquired a new position in shares of Sprouts Farmers Market during the second quarter valued at $63,000. Finally, Principal Securities Inc. bought a new stake in shares of Sprouts Farmers Market during the fourth quarter valued at about $54,000.

Sprouts Farmers Market Stock Performance

Shares of NASDAQ SFM opened at $105.44 on Friday. The stock’s fifty day simple moving average is $95.80 and its 200 day simple moving average is $80.19. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 36.36, a PEG ratio of 3.03 and a beta of 0.56. The company has a quick ratio of 0.44, a current ratio of 1.03 and a debt-to-equity ratio of 0.01. Sprouts Farmers Market, Inc. has a 52-week low of $39.50 and a 52-week high of $107.90.

Sprouts Farmers Market (NASDAQ:SFM) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share 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 analysts’ expectations of $1.84 billion. During the same quarter last year, the business posted $0.71 EPS. Sprouts Farmers Market’s revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts forecast that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Timmi Zalatoris sold 56,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 owns 10,895 shares of the company’s stock, valued at approximately $1,089,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Stacy W. Hilgendorf sold 1,904 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $101.12, for a total value of $192,532.48. Following the transaction, the vice president now owns 10,237 shares in the company, valued at approximately $1,035,165.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timmi Zalatoris sold 56,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $100.00, for a total transaction of $5,680,000.00. Following the sale, the insider now owns 10,895 shares of the company’s stock, valued at $1,089,500. The disclosure for this sale can be found here. Insiders have sold 123,221 shares of company stock worth $12,130,609 over the last 90 days. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SFM shares. Evercore ISI raised shares of Sprouts Farmers Market from an “in-line” rating to an “outperform” rating and raised their target price for the company from $96.00 to $120.00 in a research note on Monday. Royal Bank of Canada started coverage on shares of Sprouts Farmers Market in a research note on Thursday, September 12th. They set a “sector perform” rating and a $107.00 price objective on the stock. The Goldman Sachs Group upped their target price on Sprouts Farmers Market from $89.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Roth Mkm lifted their price target on Sprouts Farmers Market from $58.00 to $78.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company upgraded Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $62.00 to $90.00 in a report on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $99.22.

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.