King Luther Capital Management Corp Invests $218,000 in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

King Luther Capital Management Corp acquired a new stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) during the second quarter, according to its most recent filing with the SEC. The fund acquired 2,600 shares of the company’s stock, valued at approximately $218,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Promethos Capital LLC increased its holdings in Sprouts Farmers Market by 55.9% during the 2nd quarter. Promethos Capital LLC now owns 63,546 shares of the company’s stock worth $5,316,000 after acquiring an additional 22,790 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Sprouts Farmers Market by 84.9% in the second quarter. Canada Pension Plan Investment Board now owns 164,000 shares of the company’s stock worth $13,720,000 after purchasing an additional 75,300 shares during the period. Divisadero Street Capital Management LP purchased a new stake in shares of Sprouts Farmers Market in the second quarter worth $2,092,000. Brighton Jones LLC bought a new stake in Sprouts Farmers Market during the second quarter valued at $225,000. Finally, Intech Investment Management LLC purchased a new position in Sprouts Farmers Market during the second quarter worth about $2,205,000.

Insiders Place Their Bets

In other news, insider Dustin Hamilton sold 500 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $97.52, for a total transaction of $48,760.00. Following the completion of the transaction, the insider now directly owns 27,188 shares of the company’s stock, valued at $2,651,373.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Dustin Hamilton sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $97.52, for a total transaction of $48,760.00. Following the transaction, the insider now directly owns 27,188 shares of the company’s stock, valued at $2,651,373.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jack Sinclair sold 5,714 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $101.09, for a total value of $577,628.26. Following the completion of the sale, the chief executive officer now directly owns 222,432 shares of the company’s stock, valued at approximately $22,485,650.88. The disclosure for this sale can be found here. Insiders have sold a total of 123,221 shares of company stock valued at $12,130,609 in the last quarter. Insiders own 1.10% of the company’s stock.

Sprouts Farmers Market Trading Up 3.0 %

Shares of SFM stock opened at $108.89 on Tuesday. The business has a 50-day moving average of $96.76 and a 200 day moving average of $81.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.03 and a quick ratio of 0.44. Sprouts Farmers Market, Inc. has a 1-year low of $39.76 and a 1-year high of $109.01. The stock 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 released its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sprouts Farmers Market, Inc. will post 3.37 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on SFM shares. Bank of America raised their price target on Sprouts Farmers Market from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, September 5th. The Goldman Sachs Group lifted their target price on shares of Sprouts Farmers Market from $89.00 to $111.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Melius Research started coverage on shares of Sprouts Farmers Market in a report on Monday. They issued a “hold” rating and a $105.00 price target on the stock. Wells Fargo & Company raised shares of Sprouts Farmers Market from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $62.00 to $90.00 in a report on Tuesday, July 30th. Finally, Royal Bank of Canada began coverage on Sprouts Farmers Market in a research note on Thursday, September 12th. They issued a “sector perform” rating and a $107.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Sprouts Farmers Market presently has an average rating of “Hold” and an average price target of $99.80.

Sprouts Farmers Market 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.