Alberta Investment Management Corp Purchases 3,800 Shares of 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 increased its position in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 29.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,800 shares of the company's stock after buying 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 reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Sound View Wealth Advisors Group LLC acquired a new position in shares of Sprouts Farmers Market in the 1st quarter valued at about $236,000. Private Advisory Group LLC raised its holdings 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 worth $990,000 after purchasing an additional 218 shares in the last quarter. Natixis Advisors LLC raised its holdings 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 worth $8,193,000 after purchasing an additional 5,179 shares in the last quarter. Baader Bank Aktiengesellschaft increased its position in shares of Sprouts Farmers Market by 26.9% in the first quarter. Baader Bank Aktiengesellschaft now owns 7,842 shares of the company's stock worth $1,197,000 after acquiring an additional 1,664 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new position in shares of Sprouts Farmers Market in the first quarter worth approximately $589,000.

Analyst Upgrades and Downgrades

SFM has been the topic of several analyst reports. Roth Capital set a $155.00 target price on shares of Sprouts Farmers Market and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Royal Bank Of Canada boosted their price objective on shares of Sprouts Farmers Market from $173.00 to $176.00 and gave the company a "sector perform" rating in a research report on Thursday, July 31st. Jefferies Financial Group raised shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating and set a $190.00 price objective on the stock in a research report on Friday, August 1st. Wells Fargo & Company raised shares of Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $175.00 to $180.00 in a research report on Tuesday. Finally, Barclays raised shares of Sprouts Farmers Market from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $173.00 to $185.00 in a research report on Thursday, July 31st. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $171.87.

Sprouts Farmers Market Stock Performance

Shares of SFM stock traded up $0.45 during mid-day trading on Thursday, reaching $151.20. The company's stock had a trading volume of 57,541 shares, compared to its average volume of 1,736,242. Sprouts Farmers Market, Inc. has a 1-year low of $94.15 and a 1-year high of $182.00. The company has a market cap of $14.78 billion, a P/E ratio of 31.06, a PEG ratio of 1.68 and a beta of 0.78. The firm's 50-day moving average is $162.87 and its two-hundred day moving average is $158.55.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last announced its quarterly earnings data 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. Sprouts Farmers Market had a net margin of 5.77% and a return on equity of 36.53%. The company had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the prior year, the company posted $0.94 EPS. The business's revenue was up 17.3% on a year-over-year basis. Sell-side analysts anticipate that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current year.

Insider Transactions at Sprouts Farmers Market

In other Sprouts Farmers Market news, Director Joseph D. O'leary sold 2,937 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $150.07, for a total value of $440,755.59. Following the completion of the sale, the director owned 14,994 shares in the company, valued at approximately $2,250,149.58. This trade represents a 16.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jack Sinclair sold 4,045 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $156.76, for a total transaction of $634,094.20. Following the completion of the transaction, the chief executive officer directly owned 174,740 shares in the company, valued at $27,392,242.40. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,725 shares of company stock worth $11,511,003. Corporate insiders own 1.10% of the company's stock.

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.