469,725 Shares in Sprouts Farmers Market, Inc. (NASDAQ:SFM) Acquired by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP acquired 469,725 shares of Sprouts Farmers Market, Inc. for approximately $71.7 million, establishing a new position in the company.
• Several hedge funds have increased their holdings in Sprouts, with Wells Fargo raising its stake by 26.2% and Andrew Hill Investment Advisors increasing theirs by 145.8%.
• Recent analyst ratings include upgrades from Jefferies Financial Group and UBS Group, with price targets for Sprouts Farmers Market now ranging from $175.00 to $190.00, highlighting strong market confidence.

Westfield Capital Management Co. LP bought a new stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 469,725 shares of the company's stock, valued at approximately $71,699,000. Westfield Capital Management Co. LP owned about 0.48% of Sprouts Farmers Market at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its position in Sprouts Farmers Market by 1,033.4% during the first quarter. Assenagon Asset Management S.A. now owns 1,476,351 shares of the company's stock valued at $225,350,000 after purchasing an additional 1,346,097 shares in the last quarter. Leigh Baldwin & CO. LLC acquired a new stake in shares of Sprouts Farmers Market in the 4th quarter valued at $53,946,000. GAMMA Investing LLC lifted its stake in shares of Sprouts Farmers Market by 18,234.0% in the 1st quarter. GAMMA Investing LLC now owns 358,246 shares of the company's stock valued at $54,683,000 after purchasing an additional 356,292 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Sprouts Farmers Market by 22.9% in the 4th quarter. Invesco Ltd. now owns 1,582,896 shares of the company's stock valued at $201,139,000 after purchasing an additional 294,553 shares during the last quarter. Finally, Man Group plc lifted its stake in shares of Sprouts Farmers Market by 204.7% in the 4th quarter. Man Group plc now owns 289,929 shares of the company's stock valued at $36,841,000 after purchasing an additional 194,792 shares during the last quarter.

Sprouts Farmers Market Trading Down 1.6%

Shares of Sprouts Farmers Market stock traded down $2.41 during trading on Friday, reaching $148.88. The stock had a trading volume of 521,338 shares, compared to its average volume of 1,737,118. The company has a market capitalization of $14.55 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 1.70 and a beta of 0.78. The stock has a fifty day moving average price of $162.54 and a two-hundred day moving average price of $158.63. Sprouts Farmers Market, Inc. has a 52 week low of $94.15 and a 52 week high of $182.00.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.12. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. Sprouts Farmers Market had a return on equity of 36.53% and a net margin of 5.77%. Sprouts Farmers Market's quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.94 earnings per share. On average, equities analysts forecast that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on SFM shares. Wall Street Zen raised shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. UBS Group set a $180.00 target price on Sprouts Farmers Market in a research report on Thursday, July 31st. Barclays upgraded Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $173.00 to $185.00 in a research note on Thursday, July 31st. Royal Bank Of Canada increased their target price on Sprouts Farmers Market from $173.00 to $176.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Finally, Evercore ISI upped their price target on Sprouts Farmers Market from $180.00 to $185.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Sprouts Farmers Market has a consensus rating of "Moderate Buy" and an average target price of $171.87.

Insiders Place Their Bets

In related news, Director Terri F. Graham sold 1,278 shares of Sprouts Farmers Market stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $180.00, for a total value of $230,040.00. Following the sale, the director owned 32,910 shares of the company's stock, valued at approximately $5,923,800. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jack Sinclair sold 4,045 shares of Sprouts Farmers Market stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $156.76, for a total value of $634,094.20. Following the transaction, the chief executive officer owned 174,740 shares of the company's stock, valued at $27,392,242.40. The trade was a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,725 shares of company stock valued at $11,511,003 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

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.