Intech Investment Management LLC Takes $2.21 Million Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Intech Investment Management LLC acquired a new position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 26,351 shares of the company’s stock, valued at approximately $2,205,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rise Advisors LLC purchased a new stake in Sprouts Farmers Market during the first quarter worth about $26,000. Crewe Advisors LLC increased 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 worth $27,000 after buying an additional 219 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Sprouts Farmers Market during the 2nd quarter worth approximately $29,000. Hanseatic Management Services Inc. purchased a new position in Sprouts Farmers Market in the 2nd quarter valued at approximately $63,000. Finally, Parallel Advisors LLC grew its stake in shares of Sprouts Farmers Market by 11.7% in 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 in the last quarter.

Insider Activity at Sprouts Farmers Market

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

Sprouts Farmers Market Stock Up 3.0 %

Shares of NASDAQ:SFM opened at $108.89 on Tuesday. The firm has a 50 day simple moving average of $96.76 and a 200-day simple moving average of $81.04. Sprouts Farmers Market, Inc. has a twelve month low of $39.76 and a twelve month high of $109.01. The company has a current ratio of 1.03, a quick ratio of 0.44 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $10.94 billion, a PE ratio of 37.55, a P/E/G ratio of 3.03 and a beta of 0.56.

Sprouts Farmers Market (NASDAQ:SFM) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.16. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Sprouts Farmers Market had a net margin of 4.52% and a return on equity of 27.53%. Sprouts Farmers Market’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. On average, equities analysts predict that Sprouts Farmers Market, Inc. will post 3.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SFM. Melius Research started coverage on Sprouts Farmers Market in a research note on Monday. They issued a “hold” rating and a $105.00 price objective on the stock. The Goldman Sachs Group increased their price target on Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Bank of America boosted their price objective on Sprouts Farmers Market from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Royal Bank of Canada assumed coverage on shares of Sprouts Farmers Market in a report on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 target price on the stock. Finally, BMO Capital Markets upgraded shares of Sprouts Farmers Market from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $40.00 to $102.00 in a report on Tuesday, July 30th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Sprouts Farmers Market currently has a consensus rating of “Hold” and a consensus price target of $99.80.

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.