Bank of New York Mellon Corp Sells 22,586 Shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Bank of New York Mellon Corp lowered its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 860,138 shares of the company's stock after selling 22,586 shares during the quarter. Bank of New York Mellon Corp owned about 0.88% of Sprouts Farmers Market worth $131,292,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Whipplewood Advisors LLC grew its holdings in Sprouts Farmers Market by 92.0% during the 1st quarter. Whipplewood Advisors LLC now owns 192 shares of the company's stock valued at $29,000 after buying an additional 92 shares in the last quarter. GeoWealth Management LLC raised its holdings in shares of Sprouts Farmers Market by 115.4% during the fourth quarter. GeoWealth Management LLC now owns 265 shares of the company's stock valued at $34,000 after acquiring an additional 142 shares in the last quarter. Versant Capital Management Inc grew its stake in Sprouts Farmers Market by 111.3% in the first quarter. Versant Capital Management Inc now owns 319 shares of the company's stock worth $49,000 after purchasing an additional 168 shares during the period. SBI Securities Co. Ltd. purchased a new stake in Sprouts Farmers Market in the fourth quarter worth $51,000. Finally, Toronto Dominion Bank purchased a new position in Sprouts Farmers Market in the fourth quarter worth about $63,000.

Sprouts Farmers Market Trading Down 3.2%

Shares of Sprouts Farmers Market stock opened at $158.88 on Wednesday. The company has a market capitalization of $15.55 billion, a price-to-earnings ratio of 35.70, a PEG ratio of 2.05 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 0.95 and a debt-to-equity ratio of 0.01. Sprouts Farmers Market, Inc. has a 12-month low of $79.34 and a 12-month high of $182.00. The firm's 50-day moving average price is $165.08 and its two-hundred day moving average price is $155.01.

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

Analysts Set New Price Targets

SFM has been the subject of a number of analyst reports. Evercore ISI increased their price objective on shares of Sprouts Farmers Market from $180.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. 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 report on Thursday, May 1st. Wall Street Zen raised shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a report on Wednesday, April 23rd. Roth Capital set a $155.00 target price on Sprouts Farmers Market and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company raised their target price 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. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $167.79.

Insiders Place Their Bets

In related news, insider Timmi Zalatoris sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $164.38, for a total value of $328,760.00. Following the transaction, the insider directly owned 13,263 shares of the company's stock, valued at approximately $2,180,171.94. The trade was 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 hyperlink. Also, Director Terri F. Graham sold 1,278 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were 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. This trade represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,990 shares of company stock worth $11,554,626 in the last quarter. Insiders own 1.10% of the company's stock.

About Sprouts Farmers Market

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.

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