Bank of Nova Scotia Purchases New Shares in Sprouts Farmers Market, Inc. $SFM

Key Points

• Bank of Nova Scotia acquired 216,283 shares of Sprouts Farmers Market during the second quarter, valued at approximately $18.3 million and representing about 0.23% of the company.
• Analyst sentiment is mixed but generally constructive: seven analysts rate SFM a Buy, six rate it Hold, and one rates it Sell, with an average price target of $91.58.
• Sprouts exceeded quarterly expectations with $1.37 in earnings per share and $2.33 billion in revenue, while revenue increased 4.7% year over year. However, company insiders sold 58,289 shares worth roughly $5.0 million over the past 90 days.

Bank of Nova Scotia acquired a new stake in shares of Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 216,283 shares of the company's stock, valued at approximately $18,293,000. Bank of Nova Scotia owned approximately 0.23% of Sprouts Farmers Market at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Newbridge Financial Services Group Inc. purchased a new position in Sprouts Farmers Market during the second quarter worth about $29,000. TD Private Client Wealth LLC increased its stake in Sprouts Farmers Market by 1,309.1% in the 4th quarter. TD Private Client Wealth LLC now owns 310 shares of the company's stock valued at $25,000 after buying an additional 288 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Sprouts Farmers Market during the 1st quarter worth approximately $25,000. Bell Investment Advisors Inc bought a new position in shares of Sprouts Farmers Market during the 2nd quarter worth approximately $29,000. Finally, Clearstead Advisors LLC boosted its stake in shares of Sprouts Farmers Market by 72.7% in the 4th quarter. Clearstead Advisors LLC now owns 380 shares of the company's stock worth $30,000 after buying an additional 160 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SFM shares. Evercore reaffirmed an "outperform" rating on shares of Sprouts Farmers Market in a report on Monday, July 27th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $84.00 price objective on shares of Sprouts Farmers Market in a research report on Thursday, July 30th. JPMorgan Chase & Co. upgraded Sprouts Farmers Market from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $80.00 to $103.00 in a research note on Thursday, July 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $114.00 target price on shares of Sprouts Farmers Market in a research report on Monday, June 1st. Finally, Roth Capital set a $82.00 target price on Sprouts Farmers Market in a research note on Friday, July 31st. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $91.58.

Sprouts Farmers Market Stock Performance

Shares of SFM stock opened at $81.08 on Monday. The company has a 50 day moving average of $81.59 and a 200-day moving average of $79.06. The company has a quick ratio of 0.43, a current ratio of 0.99 and a debt-to-equity ratio of 0.07. Sprouts Farmers Market, Inc. has a 12-month low of $64.75 and a 12-month high of $149.66. The firm has a market cap of $7.56 billion, a P/E ratio of 15.53, a PEG ratio of 2.01 and a beta of 0.68.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.02. Sprouts Farmers Market had a net margin of 5.58% and a return on equity of 34.84%. The company had revenue of $2.33 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the previous year, the firm posted $1.35 EPS. Sprouts Farmers Market's revenue was up 4.7% on a year-over-year basis. Sprouts Farmers Market has set its Q3 2026 guidance at 1.200-1.240 EPS and its FY 2026 guidance at 5.320-5.400 EPS. Sell-side analysts anticipate that Sprouts Farmers Market, Inc. will post 5.55 earnings per share for the current year.

Insider Activity

In other news, COO Nicholas Konat sold 12,538 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $87.90, for a total transaction of $1,102,090.20. Following the completion of the transaction, the chief operating officer owned 66,119 shares in the company, valued at approximately $5,811,860.10. This represents a 15.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jack Sinclair sold 10,790 shares of Sprouts Farmers Market stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $82.04, for a total value of $885,211.60. Following the completion of the sale, the chief executive officer directly owned 269,980 shares of the company's stock, valued at approximately $22,149,159.20. This trade represents a 3.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 58,289 shares of company stock valued at $4,991,405 in the last 90 days. Insiders own 1.30% of the company's stock.

About Sprouts Farmers Market

Sprouts Farmers Market, Inc NASDAQ: SFM is a specialty grocery retailer focused on fresh, natural and organic foods. Headquartered in Phoenix, Arizona, the company operates stores designed to offer an open-market shopping experience, emphasizing quality produce sourced from regional farmers alongside organic pantry staples, dairy, meat and seafood. Sprouts' product assortment also includes bulk foods, vitamins and supplements, a deli and prepared foods, reflecting its commitment to wellness and affordable healthy living.

Founded in 2002 by members of the Boney family, Sprouts began as a single farmers market in Chandler, Arizona.

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