Nuveen LLC Takes $106.85 Million Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Key Points

• Nuveen LLC has purchased 700,029 shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM) valued at approximately $106.85 million, representing about 0.72% of the company's total shares as per their recent SEC filing.
• Assenagon Asset Management S.A. significantly increased its stake by 1,033.4%, now holding 1,476,351 shares valued at about $225.35 million.
• Sprouts Farmers Market reported earnings of $1.35 per share, exceeding analyst estimates, with revenue reaching $2.22 billion for the quarter, up 17.3% year over year.

Nuveen LLC bought a new position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 700,029 shares of the company's stock, valued at approximately $106,852,000. Nuveen LLC owned about 0.72% of Sprouts Farmers Market as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SFM. Marshall Wace LLP lifted its holdings in Sprouts Farmers Market by 10.1% during the 4th quarter. Marshall Wace LLP now owns 1,843,320 shares of the company's stock worth $234,231,000 after buying an additional 168,605 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of 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 worth $225,350,000 after purchasing an additional 1,346,097 shares in the last quarter. Northern Trust Corp increased its position in shares of Sprouts Farmers Market by 13.5% during the fourth quarter. Northern Trust Corp now owns 1,355,147 shares of the company's stock worth $172,199,000 after purchasing an additional 160,882 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Sprouts Farmers Market by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 997,152 shares of the company's stock worth $152,205,000 after purchasing an additional 10,059 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its position in shares of Sprouts Farmers Market by 5.2% during the fourth quarter. Driehaus Capital Management LLC now owns 942,785 shares of the company's stock worth $119,800,000 after purchasing an additional 46,258 shares in the last quarter.

Insider Activity

In other Sprouts Farmers Market news, insider Timmi Zalatoris sold 2,000 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $164.38, for a total transaction of $328,760.00. Following the sale, the insider owned 13,263 shares in the company, valued at approximately $2,180,171.94. This represents a 13.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jack Sinclair sold 4,045 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $156.76, for a total value of $634,094.20. Following the sale, the chief executive officer owned 174,740 shares in the company, valued at approximately $27,392,242.40. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,504 shares of company stock worth $9,574,851 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

Sprouts Farmers Market Stock Performance

SFM stock traded down $2.77 during midday trading on Thursday, hitting $143.41. 1,572,502 shares of the stock were exchanged, compared to its average volume of 1,596,808. The stock's 50-day moving average price is $159.90 and its 200-day moving average price is $158.62. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.65 and a beta of 0.78. Sprouts Farmers Market, Inc. has a fifty-two week low of $95.25 and a fifty-two week high of $182.00.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.12. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations 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 revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. Research analysts anticipate that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current year.

Wall Street Analysts Forecast Growth

SFM has been the topic of a number of research analyst reports. Evercore ISI cut their target price on Sprouts Farmers Market from $195.00 to $190.00 and set an "outperform" rating on the stock in a research report on Tuesday. UBS Group set a $180.00 price target on Sprouts Farmers Market in a research report on Thursday, July 31st. Roth Capital set a $155.00 price objective on Sprouts Farmers Market and gave the company a "neutral" rating in a research note on Thursday, May 1st. Royal Bank Of Canada upped their price objective on Sprouts Farmers Market from $173.00 to $176.00 and gave the company a "sector perform" rating in a research note on Thursday, July 31st. Finally, Wall Street Zen raised Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Sprouts Farmers Market currently has a consensus rating of "Moderate Buy" and an average price target of $172.20.

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.