Alberta Investment Management Corp Has $2.56 Million Stock Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Key Points

• Alberta Investment Management Corp increased its stake in Sprouts Farmers Market by 29.2%, purchasing an additional 3,800 shares, bringing its total holdings to 16,800 shares valued at approximately $2.56 million.
• Sprouts Farmers Market is forecasted to report earnings per share of 4.29 for the current fiscal year, with its recent quarter showing a 17.3% year-over-year revenue increase to $2.22 billion.
• Several analysts have set varying price targets for Sprouts Farmers Market, with the consensus target currently at $171.53, reflecting a "Moderate Buy" rating from analysts.

Alberta Investment Management Corp lifted its stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 29.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,800 shares of the company's stock after purchasing an additional 3,800 shares during the period. Alberta Investment Management Corp's holdings in Sprouts Farmers Market were worth $2,564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sound View Wealth Advisors Group LLC acquired a new stake in shares of Sprouts Farmers Market in the 1st quarter valued at about $236,000. Private Advisory Group LLC lifted its stake in shares of Sprouts Farmers Market by 3.5% in the 1st quarter. Private Advisory Group LLC now owns 6,489 shares of the company's stock valued at $990,000 after acquiring an additional 218 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Sprouts Farmers Market by 10.7% in the 1st quarter. Natixis Advisors LLC now owns 53,678 shares of the company's stock valued at $8,193,000 after acquiring an additional 5,179 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its stake in shares of Sprouts Farmers Market by 26.9% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 7,842 shares of the company's stock valued at $1,197,000 after acquiring an additional 1,664 shares during the last quarter. Finally, Arkadios Wealth Advisors bought a new position in shares of Sprouts Farmers Market in the 1st quarter valued at $589,000.

Insider Activity

In related news, insider John Scott Neal sold 17,721 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $160.89, for a total transaction of $2,851,131.69. Following the completion of the sale, the insider directly owned 14,178 shares in the company, valued at approximately $2,281,098.42. This trade represents a 55.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph D. O'leary sold 2,000 shares of Sprouts Farmers Market stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $159.40, for a total transaction of $318,800.00. Following the completion of the transaction, the director directly owned 17,931 shares in the company, valued at approximately $2,858,201.40. This represents a 10.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 65,743 shares of company stock worth $10,769,633 in the last 90 days. 1.10% of the stock is currently owned by corporate insiders.

Sprouts Farmers Market Price Performance

Shares of SFM traded down $0.65 during midday trading on Tuesday, reaching $153.16. The stock had a trading volume of 133,347 shares, compared to its average volume of 1,738,643. Sprouts Farmers Market, Inc. has a 1-year low of $93.42 and a 1-year high of $182.00. The company's fifty day simple moving average is $163.54 and its two-hundred day simple moving average is $158.67. The company has a market cap of $14.97 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 1.74 and a beta of 0.78.

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

Analysts Set New Price Targets

Several research firms have issued reports on SFM. Barclays upgraded shares of Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $173.00 to $185.00 in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada increased their target price on shares of Sprouts Farmers Market from $173.00 to $176.00 and gave the stock a "sector perform" rating in a report on Thursday, July 31st. Jefferies Financial Group upgraded shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating and set a $190.00 target price for the company in a report on Friday. Finally, Evercore ISI increased their target price on shares of Sprouts Farmers Market from $180.00 to $185.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $171.87.

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.