Blueshift Asset Management LLC Takes Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Key Points

• Blueshift Asset Management LLC has acquired a new stake in Sprouts Farmers Market, Inc., purchasing 3,736 shares valued at approximately $570,000 in the first quarter.
• In the same period, several large investors increased their holdings significantly, with Assenagon Asset Management boosting its position by 1,033.4%, acquiring over 1.4 million shares.
• Sprouts Farmers Market reported a quarterly EPS of $1.35, surpassing analysts' expectations and indicating a 17.3% year-over-year revenue growth to $2.22 billion.

Blueshift Asset Management LLC bought a new position in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,736 shares of the company's stock, valued at approximately $570,000.

Several other hedge funds have also recently bought and sold shares of SFM. Whipplewood Advisors LLC raised its stake in shares of Sprouts Farmers Market by 92.0% in the 1st quarter. Whipplewood Advisors LLC now owns 192 shares of the company's stock valued at $29,000 after purchasing an additional 92 shares in the last quarter. Dogwood Wealth Management LLC bought a new position in Sprouts Farmers Market during the first quarter worth $30,000. 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 worth $34,000 after purchasing an additional 142 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Sprouts Farmers Market by 111.3% in the 1st quarter. Versant Capital Management Inc now owns 319 shares of the company's stock valued at $49,000 after buying an additional 168 shares during the period. Finally, Toronto Dominion Bank bought a new stake in shares of Sprouts Farmers Market during the 4th quarter valued at about $63,000.

Sprouts Farmers Market Price Performance

Shares of NASDAQ SFM traded down $0.27 during mid-day trading on Monday, reaching $153.81. 1,833,329 shares of the company's stock traded hands, compared to its average volume of 1,464,830. The business has a 50-day simple moving average of $163.73 and a 200 day simple moving average of $158.57. The stock has a market cap of $15.03 billion, a P/E ratio of 31.65, a PEG ratio of 1.74 and a beta of 0.78. Sprouts Farmers Market, Inc. has a 1-year low of $91.36 and a 1-year high of $182.00.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.35 earnings per share 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 for the quarter, compared to analyst estimates of $2.16 billion. During the same period last year, the firm earned $0.94 earnings per share. The firm's revenue was up 17.3% on a year-over-year basis. Equities research analysts anticipate that Sprouts Farmers Market, Inc. will post 4.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Sprouts Farmers Market

In other news, COO Nicholas Konat sold 20,270 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $167.50, for a total value of $3,395,225.00. Following the transaction, the chief operating officer owned 55,675 shares of the company's stock, valued at approximately $9,325,562.50. This represents a 26.69% 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, CEO Jack Sinclair sold 4,045 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $162.94, for a total transaction of $659,092.30. Following the completion of the transaction, the chief executive officer owned 174,740 shares in the company, valued at approximately $28,472,135.60. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 65,743 shares of company stock valued at $10,769,633. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SFM. Roth Capital set a $155.00 price target on shares of Sprouts Farmers Market and gave the company a "neutral" rating in a report on Thursday, May 1st. UBS Group set a $180.00 price objective on Sprouts Farmers Market in a report on Thursday. Evercore ISI increased their price target on Sprouts Farmers Market from $180.00 to $185.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. 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. Finally, Royal Bank Of Canada increased their target price 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. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Sprouts Farmers Market presently has a consensus rating of "Moderate Buy" and an average price target of $171.53.

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.