Brighton Jones LLC Takes Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Brighton Jones LLC purchased a new position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,691 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in shares of Sprouts Farmers Market during the first quarter worth about $26,000. Crewe Advisors LLC increased its position in Sprouts Farmers Market by 223.5% during the second quarter. Crewe Advisors LLC now owns 317 shares of the company’s stock worth $27,000 after buying an additional 219 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Sprouts Farmers Market in the second quarter valued at approximately $29,000. Hanseatic Management Services Inc. acquired a new stake in shares of Sprouts Farmers Market in the second quarter valued at approximately $63,000. Finally, Parallel Advisors LLC grew its position in shares of Sprouts Farmers Market by 11.7% during the fourth quarter. Parallel Advisors LLC now owns 1,987 shares of the company’s stock worth $96,000 after acquiring an additional 208 shares during the last quarter.

Analyst Ratings Changes

A number of analysts recently weighed in on SFM shares. BMO Capital Markets upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $40.00 to $102.00 in a research note on Tuesday, July 30th. Royal Bank of Canada initiated coverage on Sprouts Farmers Market in a report on Thursday, September 12th. They set a “sector perform” rating and a $107.00 price target on the stock. The Goldman Sachs Group upped their price objective on Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company upgraded Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $62.00 to $90.00 in a research note on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $99.22.

Sprouts Farmers Market Price Performance

Sprouts Farmers Market stock opened at $105.70 on Monday. The company has a market cap of $10.62 billion, a P/E ratio of 36.45, a price-to-earnings-growth ratio of 3.03 and a beta of 0.56. Sprouts Farmers Market, Inc. has a one year low of $39.50 and a one year high of $107.90. The business has a fifty day moving average of $96.26 and a two-hundred day moving average of $80.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.44 and a current ratio of 1.03.

Sprouts Farmers Market (NASDAQ:SFM) last released 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. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.84 billion. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. The firm’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.71 earnings per share. As a group, analysts predict that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction of $476,433.32. Following the completion of the transaction, the chief executive officer now owns 245,288 shares of the company’s stock, valued at approximately $20,452,113.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jack Sinclair sold 5,714 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $83.38, for a total transaction of $476,433.32. Following the completion of the transaction, the chief executive officer now directly owns 245,288 shares of the company’s stock, valued at approximately $20,452,113.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Timmi Zalatoris sold 56,800 shares of the stock in a transaction 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 sale, the insider now owns 10,895 shares in the company, valued at approximately $1,089,500. The disclosure for this sale can be found here. Insiders sold a total of 123,221 shares of company stock worth $12,130,609 over the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

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.