Burney Co. Cuts Stock Position in Sprouts Farmers Market, Inc. (NASDAQ:SFM)

Burney Co. trimmed its holdings in Sprouts Farmers Market, Inc. (NASDAQ:SFM - Free Report) by 18.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 12,974 shares of the company's stock after selling 2,849 shares during the quarter. Burney Co.'s holdings in Sprouts Farmers Market were worth $1,980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Whipplewood Advisors LLC raised 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 during the last quarter. Dogwood Wealth Management LLC purchased a new position in Sprouts Farmers Market during the 1st quarter valued at $30,000. GeoWealth Management LLC increased its position in Sprouts Farmers Market by 115.4% during the 4th quarter. GeoWealth Management LLC now owns 265 shares of the company's stock valued at $34,000 after purchasing an additional 142 shares during the period. Versant Capital Management Inc increased its position in Sprouts Farmers Market by 111.3% during the 1st quarter. Versant Capital Management Inc now owns 319 shares of the company's stock valued at $49,000 after purchasing an additional 168 shares during the period. Finally, Toronto Dominion Bank purchased a new position in Sprouts Farmers Market during the 4th quarter valued at $63,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SFM shares. 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. Wall Street Zen raised shares of Sprouts Farmers Market from a "hold" rating to a "buy" rating in a research report on Wednesday, April 23rd. Evercore ISI upped their target price on shares of Sprouts Farmers Market from $180.00 to $185.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. UBS Group upped their target price on shares of Sprouts Farmers Market from $195.00 to $196.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $173.00 price target (up previously from $172.00) on shares of Sprouts Farmers Market in a research note on Tuesday, July 15th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Sprouts Farmers Market presently has an average rating of "Hold" and a consensus price target of $168.20.

Sprouts Farmers Market Stock Performance

Sprouts Farmers Market stock traded up $1.06 during midday trading on Thursday, hitting $164.40. The stock had a trading volume of 1,050,899 shares, compared to its average volume of 2,081,863. The firm's fifty day moving average is $164.75 and its two-hundred day moving average is $157.41. The company has a market capitalization of $16.09 billion, a PE ratio of 36.94, a P/E/G ratio of 2.04 and a beta of 0.77. Sprouts Farmers Market, Inc. has a 52-week low of $82.54 and a 52-week high of $182.00. The company has a current ratio of 0.95, a quick ratio of 0.51 and a debt-to-equity ratio of 0.01.

Sprouts Farmers Market (NASDAQ:SFM - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.20 billion. During the same quarter last year, the business posted $1.12 earnings per share. The company's revenue for the quarter was up 18.7% compared to the same quarter last year. On average, research analysts forecast that Sprouts Farmers Market, Inc. will post 4.29 EPS for the current year.

Insider Buying and Selling

In related news, Director Douglas Gregory Rauch sold 1,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $167.16, for a total value of $167,160.00. Following the completion of the sale, the director directly owned 8,598 shares in the company, valued at $1,437,241.68. This trade represents a 10.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Terri F. Graham sold 1,278 shares of Sprouts Farmers Market stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $180.00, for a total value of $230,040.00. Following the sale, the director owned 32,910 shares of the company's stock, 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 sold 74,035 shares of company stock valued at $12,213,719 over the last 90 days. 1.10% of the stock is currently owned by insiders.

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.