Allspring Global Investments Holdings LLC Reduces Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Allspring Global Investments Holdings LLC trimmed its stake in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 24.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,975 shares of the company's stock after selling 3,157 shares during the period. Allspring Global Investments Holdings LLC's holdings in Sprouts Farmers Market were worth $1,549,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Sprouts Farmers Market by 1,033.4% during the 1st 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 during the last quarter. Norges Bank purchased a new stake in Sprouts Farmers Market in the 4th quarter worth about $143,113,000. Wealthfront Advisers LLC purchased a new stake in Sprouts Farmers Market in the 4th quarter worth about $64,117,000. Leigh Baldwin & CO. LLC purchased a new stake in Sprouts Farmers Market in the 4th quarter worth about $53,946,000. Finally, GAMMA Investing LLC raised its position in Sprouts Farmers Market by 18,234.0% in the 1st quarter. GAMMA Investing LLC now owns 358,246 shares of the company's stock worth $54,683,000 after purchasing an additional 356,292 shares during the period.

Insiders Place Their Bets

In related news, insider Timmi Zalatoris sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $164.38, for a total transaction of $328,760.00. Following the sale, the insider directly owned 13,263 shares of the company's stock, valued at $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 is accessible through this hyperlink. Also, Director Terri F. Graham sold 1,278 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $180.00, for a total transaction of $230,040.00. Following the sale, the director directly owned 32,910 shares in the company, valued at approximately $5,923,800. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,905 shares of company stock worth $11,990,011. Insiders own 1.10% of the company's stock.

Sprouts Farmers Market Price Performance

SFM traded down $5.31 on Tuesday, reaching $158.88. 1,581,809 shares of the company's stock were exchanged, compared to its average volume of 1,564,160. The stock has a market cap of $15.55 billion, a PE ratio of 35.70, a P/E/G ratio of 2.03 and a beta of 0.77. Sprouts Farmers Market, Inc. has a twelve month low of $79.34 and a twelve month high of $182.00. The stock's fifty day moving average price is $165.35 and its 200-day moving average price is $154.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.95 and a quick ratio of 0.51.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.27. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.20 billion. Sprouts Farmers Market had a net margin of 5.53% and a return on equity of 34.20%. Sprouts Farmers Market's quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. Sell-side analysts expect that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current year.

Analyst Upgrades and Downgrades

SFM has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Sprouts Farmers Market from $131.00 to $136.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th. Wall Street Zen upgraded shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada lifted their price objective on shares of Sprouts Farmers Market from $160.00 to $172.00 and gave the stock a "sector perform" rating in a research note on Thursday, May 1st. Wells Fargo & Company lifted their price objective on shares of Sprouts Farmers Market from $170.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Finally, Evercore ISI raised 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. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $167.79.

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.