Acadian Asset Management LLC Acquires Shares of 2,577 Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Acadian Asset Management LLC acquired a new stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM) during the second quarter, according to its most recent filing with the SEC. The firm acquired 2,577 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently bought and sold shares of SFM. Principal Securities Inc. bought a new position in Sprouts Farmers Market in the 4th quarter valued at $54,000. Norges Bank bought a new position in shares of Sprouts Farmers Market in the 4th quarter worth $8,650,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Sprouts Farmers Market in the 4th quarter worth $442,000. Corient Private Wealth LLC boosted its position in shares of Sprouts Farmers Market by 11.0% in the 4th quarter. Corient Private Wealth LLC now owns 40,330 shares of the company’s stock worth $1,940,000 after purchasing an additional 3,986 shares during the last quarter. Finally, Quest Partners LLC bought a new position in shares of Sprouts Farmers Market in the 4th quarter worth $463,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SFM. Bank of America raised their price target 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. Wells Fargo & Company raised Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $62.00 to $90.00 in a research note on Tuesday, July 30th. The Goldman Sachs Group increased their price target on Sprouts Farmers Market from $89.00 to $111.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. 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 objective on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Sprouts Farmers Market from $63.00 to $76.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $99.22.

Insider Transactions at Sprouts Farmers Market

In other news, insider Dustin Hamilton sold 1,997 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $99.20, for a total transaction of $198,102.40. Following the completion of the sale, the insider now owns 26,172 shares in the company, valued at approximately $2,596,262.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Timmi Zalatoris sold 56,800 shares of the firm’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 transaction, the insider now directly owns 10,895 shares of the company’s stock, valued at $1,089,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Dustin Hamilton sold 1,997 shares of Sprouts Farmers Market stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $99.20, for a total transaction of $198,102.40. Following the completion of the sale, the insider now owns 26,172 shares of the company’s stock, valued at approximately $2,596,262.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,221 shares of company stock worth $12,130,609. 1.10% of the stock is owned by insiders.

Sprouts Farmers Market Stock Performance

SFM opened at $105.70 on Friday. The business’s 50-day simple moving average is $96.26 and its 200 day simple moving average is $80.48. Sprouts Farmers Market, Inc. has a 52-week low of $39.50 and a 52-week high of $107.90. The firm has a market capitalization of $10.58 billion, a PE ratio of 36.45, a PEG ratio of 3.03 and a beta of 0.56. 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 announced 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 the consensus estimate of $1.84 billion. During the same quarter in the previous year, the business earned $0.71 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. As a group, sell-side 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.